India State-Run Fuel Retailers Making Losses On Sales –Report

Indian state-run fuel retailers are incurring losses on the sale of diesel, gasoline, liquefied petroleum gas and kerosene, and companies could lose INR387 billion ($8.05 billion) in revenues this year, the Press Trust of India reported Tuesday, citing an industry official. Indian Oil Corp. (530965.BY), Bharat Petroleum Corp. (500547.BY) and Hindustan Petroleum Corp. (500104.BY) are selling diesel at a loss of INR2.96 a liter, the PTI reported the official as saying. “The three are currently losing Rs 135 crore per day on sale of petrol, diesel, domestic LPG and kerosene,” he said, the PTI reported. (June 18, 2009)