India's state-run oil marketing companies (OMCs) are facing significant financial strain, incurring losses of ₹1,000 crore (approximately $120 million USD) daily due to stagnant fuel prices despite rising international crude oil costs. Petroleum Minister Hardeep Singh Puri stated that this situation cannot continue indefinitely, highlighting that the current quarter's losses could negate the entire profit after tax from last year for these companies. He noted that under-recoveries, the gap between production costs and retail prices, are projected to reach ₹2 trillion this quarter, with net losses around ₹1 trillion. Puri dismissed claims that the government has refrained from increasing fuel prices to avoid political backlash during elections, asserting that elections and fuel price adjustments are unrelated. The geopolitical situation, particularly the blockade of the Strait of Hormuz, has severely affected India's crude imports, which account for 90% of its requirements. The Prime Minister has urged citizens to reduce fuel consumption to alleviate financial pressure on the country. In response, Puri assured that there is no immediate shortage of petrol and diesel, with current LPG production levels increasing significantly. The government is also looking to enhance its strategic fuel reserves as part of its long-term energy security strategy.