Indian Railways diesel fuel subsidy to end

State-owned Indian Oil Corp., Hindustan Petroleum, Bharat Petroleum and Mangalore Refining and Petrochemical Ltd. (MRPL) decided to stop selling subsidized diesel fuel to Indian Railways from 2008. With spiralling global oil prices leading to a decline in the fortunes of India’s public-sector oil companies, “We can’t give discounts to anybody when we are making losses,” a senior HPCL official said. (October 8, 2007)