Besides, it loses Rs 15.46 per litre on kerosene and Rs 158.78 per domestic LPG cylinder as the Government has not allowed them to revise retail prices.
"Our under-recovery (revenue loss) on sale of petrol, diesel, domestic LPG and kerosene is about Rs 74 crore per day. For the full year, we anticipate Rs 23,000 crore under recovery if (international) crude oil prices are to stay at current levels," he said.
State fuel retailers IOC, Bharat Petroleum and Hindustan Petroleum together lose about Rs 140 crore per day on sale of the four fuels.
Petroleum Secretary R S Pandey, however, ruled out raising fuel prices in the near future. "The international oil rates are discomforting but I think we should wait for them to stabalise before deciding."
WHEN THE OIL PRICE CAME FROM 147 $ TO 54 $ DID GOVERNMENT AND OIL COIES REDUCE THEIR SELLING PRICE TO CUSTOMER THEN WHY WHEN THE PRICE GOES NOW TO 74 % PER BARREL THEY STARTED SHOUTING TO TO INCREASE THE RETAIL PRICE. THE POLICY OF THE OIL COIES AND GOVT IS JUST FOOL THE CITIZEN OF INDIA. WHEN PRICE OF OIL GOES IT START THINKING OF INCREASE FAST AND WHEN OIL PRICE GOES DOWN IT WILL NOT DECREASE ACCORDINGLY. TAKING MORE AND GIVING LESS. POOR CITIZEN OF INDIA IS SHOULDERING THE BURDEN DIRECTLY AND INDIRECTLY WITH EVERY INCREASE OF CRUDE PRICE SUCH THING IS NOT HAPPEN IN OTHER NATIONS.
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