IOC incurs losses on non-revision of fuel prices

New Delhi: Indian Oil Corporation today said it is losing Rs10.6 and Rs11.6 per litre on the sale of petrol and diesel respectively due to non-revision of fuel prices in line with the international cost.

IOC Director Finance S V Narsimhan said that the company was losing Rs331.4 on LPG and Rs19.89 a litre on kerosene.

“We are incurring a net loss of Rs40-45 crore a day," he said.

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