IOC losing Rs. 151 cr per day on diesel sales
New Delhi   07-Jan-2011

State-owned IndianOil (IOC) is losing Rs. 151 crore per day in revenue on selling diesel, domestic liquefied petroleum gas (LPG) and kerosene below their imported cost, a company official said on Thursday.

IOC is losing Rs. 6.99 per litre of diesel, Rs. 19.60 a litre of kerosene and Rs. 366.28 per 14.2-kg domestic LPG cylinder.

IOC and the two other state-owned oil marketing companies, Hindustan Petroleum Corp. Ltd and Bharat Petroleum Corp. Ltd, are projected to lose Rs. 72,812 crore in revenue on subsidized fuel sales in fiscal 2011.