Arya questions discrepancy between Govt’s claim of loss to oil companies & available data

PIONEER EDGE NEWS SERVICE/ Dehradun

 Questioning the discrepancy between the claims of the central government about the losses incurred to the state-owned oil companies and the actual figures, the leader of opposition (LoP) Yashpal Arya has said that there is a need for transparency in oil pricing and real facts should be placed before the public.

He said that the Union Petroleum minister had stated that state-owned oil companies were incurring losses of approximately Rs 1,000 crore per day. However the data shows that these companies reported profits of approximately Rs 19,470 crore in the fourth quarter (January to March) of 2026, an increase of approximately 41 per cent compared to the previous year. 

“Now the question is: if the companies were making such substantial profits, how did the loss story suddenly emerge? It is worth noting that the war began on February 28 . Its direct economic impact can be seen from April. This means that the alleged losses span approximately 40 days,” he said.  

Arya said that oil prices have been steadily rising since May 10. The public perception is growing that long-term price increases are being justified based on potential limited-term losses.  “Will the public’s pockets be used to compensate for the losses of a few days, when the companies had already earned profits worth thousands of crores before that,’’ he questioned.

Arya said that the increasing fuel prices make the transportation more expensive and drive up the prices of food grains and vegetables, increase the cost of farming, impact small businesses and ultimately impact household budgets.

He said that since the companies are making profits, the public should not be burdened.  

“People of the country want to understand whether the objective of government companies is only to make profits, or is it also their responsibility to provide relief to the public in difficult times? When profits were made, why were the benefits not passed on to the common people, and when losses were incurred, why were they being paid directly from the pockets of the citizens,” he questioned.