Public sector oil marketing companies (OMCs) are incurring heavy losses on fuel sales amid the global price surge due to the West Asia war, but the government’s endeavour continues to be to keep prices stable for the common consumer, according to a top government source. The government is also not considering any proposal to ration fuels like petrol and diesel as there is no shortage of these fuels in the country, the source added. Notably, the OMCs’ combined losses in April-June quarter could wipe out their cumulative profits for the full financial year 2025-26 (FY26) if the global prices continue to remain high, the source said. “We have not increased prices in four years. Everyone wants prices to be stable. The government by default doesn’t want the prices to change,” said the source, but declined to comment for how long the OMCs can continue holding prices as there is no end in sight to the Strait of Hormuz crisis. “A primary function of the OMCs is to maintain price and supply stability.…