India: State Oil Companies Highlight Fuel Loses
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Sunday, 23 August 2009 |
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Indian Oil Corp (IOC) has told local media that it is losing more than
Rs 4 a litre on selling petrol and over Rs 2 per litre on diesel.
Mr GC Dagga , IOC Director (Marketing) said the other state oil
companies Bharat Petroleum and Hindustan Petroleum are losing Rs 4.60
on sale of every litre of petrol and Rs 2.33 per litre of diesel
currently. Besides, they lose Rs 15.46 per litre on kerosene and
Rs 158.78 per domestic LPG cylinder as Government has not allowed them
to revise retail prices.
The three firms together lose about Rs 200 crore per day on sale of the
four fuels. Dagga said IOC may not import petrol and diesel
during the current financial year and instead will meet the shortfall
by procuring from local refineries like Reliance Industries Ltd.
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