Petrol prices must be raised to cut rising losses: IOC
New Delhi   07-Sep-2011

Petrol prices need to be raised as revenue losses for refiners spiral, IOC finance head PK Goyal said on Tuesday. Losses on petrol sales stood at about Rs 3 as against about Rs 0.41 a litre in the fortnight ended August 31 due to a rise in Singapore spot prices, he added.