IOC losing over Rs 4 a litre on petrol sales
New Delhi: State-run Indian Oil Corp (IOC) on Friday said it is losing more than Rs 4 a litre on selling petrol and over Rs 2 per litre on diesel.
IOC and sister PSUs 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, IOC Director (Marketing) G C Dagga told reporters here.
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
``I don`t foresee any requirement for imports this year
(2009-10),`` he said.
The company has been buying petrol and diesel from RIL,
Essar Oil Ltd and Mangalore Refinery and Petrochemicals Ltd.
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: Exiled Kashmiri Pandits share their heart wrenching stories
- Basic ideals of Constitution are in danger: Sonia Gandhi
- DNA: 7th anniversary of 26/11 attacks, Nation pays homage to martyrs
- Candid chat with 'Tamasha' stars Deekipa Padukone, Ranbir Kapoor
- Panel discussion on Rajnath Singh's remarks on secularism in Parliament
- Woman commits suicide after heated discussion with husband over Aamir Khan's intolerance remark
- Setback to Kejriwal-led AAP as MLA Akhilesh Tripathi arrested in riot case
- See pic: Genelia marks son's birthday!
- Bigg Boss, Day 46: Priya Malik urinates inside the car!
- READ: New twist in Karisma Kapoor, Sunjay Kapur divorce saga!