Indian oil companies are experiencing substantial financial pressure in the first quarter as fuel prices have not kept pace with a 50% increase in crude oil prices. Petrol and diesel prices have remained at rates set two years ago, Rs 94.77 per litre and Rs 87.67 per litre respectively. Although domestic cooking gas (LPG) prices were increased by Rs 60 per cylinder in March, they still fall short of covering actual costs. This pricing gap is causing significant losses that could potentially eliminate the entire fiscal year's earnings for these companies, highlighting the challenges faced by the sector amid rising global oil prices and regulated domestic fuel pricing.