Oil marketing companies ( OMCs) are losing Rs518 crore per day on sale of diesel, kerosene and domestic liquefied petroleum gas ( LPG), government data showed yesterday (May 01, 2012).
Oil retailers are expected to lose Rs13.91 on sale of each litre of diesel in the first fortnight of May, while under recoveries on domestic LPG are pegged at Rs480.50 per cylinder, according to data released by the petroleum and natural gas ministry.
Marketing firms are losing Rs31.49 on the sale of every litre of kerosene through the public distribution system.
An empowered group of ministers ( EGoM) headed by Finance Minister Pranab Mukherjee is likely to meet later this month to work out a mechanism to cut losses of oil marketing firms like IOC, HPCL and BPCL.
....more info
Oil retailers are expected to lose Rs13.91 on sale of each litre of diesel in the first fortnight of May, while under recoveries on domestic LPG are pegged at Rs480.50 per cylinder, according to data released by the petroleum and natural gas ministry.
Marketing firms are losing Rs31.49 on the sale of every litre of kerosene through the public distribution system.
An empowered group of ministers ( EGoM) headed by Finance Minister Pranab Mukherjee is likely to meet later this month to work out a mechanism to cut losses of oil marketing firms like IOC, HPCL and BPCL.
....more info