State-owned oil companies today warned of disruptions in fuel supplies if they are not allowed to raise petrol price or compensated for the Rs 48 crore per day loss they incur on selling fuel below cost.
“The situation is very critical. We are losing Rs 7.67 per litre on petrol and after adding 20 per cent sales tax, the desired increase in rates in Delhi is Rs 9.20 per litre,” Indian Oil Corp (IOC) Chairman R S Butola told reporters said.
From: http://ping.fm/55tO9
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