Shares of oil marketing companies in India, including Bharat Petroleum, Hindustan Petroleum, and Indian Oil Corporation, have continued to decline despite a recent ₹3 (approximately $0.04 USD) per litre increase in retail fuel prices. This increase is seen as inadequate to offset the substantial losses incurred due to elevated crude oil prices, which have surged by 53% since the start of the West Asia conflict. Analysts indicate that a price hike of nearly ₹20 (about $0.24 USD) per litre would be necessary to fully cover these losses. As a result, oil marketing companies are currently facing daily losses of up to ₹1,200 crore (roughly $145 million USD) on petrol, diesel, and LPG sales. The Nifty and Sensex indices also showed a decline of 0.2% on the same day. Market experts are anticipating another price revision in the coming weeks, with some suggesting that the government may need to raise fuel prices by as much as ₹30 (around $0.36 USD) in the future. Given the uncertainty surrounding crude prices and geopolitical tensions, analysts recommend that investors remain cautious and await clearer signals before making new investments in this sector.