State oil firms keep Delhi fuel prices unchanged amid volatility

State-owned oil giants face losses

State-owned oil giants like Indian Oil, BPCL, and HPCL have kept prices frozen since April 2022, but it's costing them big time, think losses of ₹18 per liter on gasoline and ₹35 on diesel.
Meanwhile, private players like Shell and Nayara aren't holding back: Shell hiked up its rates on April 1, and Nayara had also increased prices earlier.

So while your local pump price might look calm, there's a lot going on under the surface.