New Delhi: India is not considering raising retail fuel prices despite a rise in global crude oil prices, oil secretary R.S. Pandey said on Wednesday.
Separately, Indian Oil Corp. Ltd’s chairman Sarthak Behuria said his company was currently losing Rs2.30 per litre of diesel sold and Rs4.20 rupees per litre on petrol. Indian Oil may lose Rs23,000 crore on fuel sales in the year ending 31 March at current crude oil prices, Behuria said in New Delhi on Wednesday. The refiner is losing Rs74 crore a day on retail fuel sales, he said.