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IOC losing Rs 118 cr per day on subsidised fuel sales

Posted on: December 21st 2010 in Press Releases.

State-owned Indian Oil Corp (IOC) is losing Rs 118 crore a day in revenue on selling diesel, domestic LPG and kerosene below their imported cost, a company official said today. “We are losing very heavily on diesel after international oil prices firmed up to $90 a barrel,” he…

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