Daily under-recoveries to fall 20%

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation are projected to lose 20 per cent lesser every day from their sale of petrol, diesel, kerosene and cooking gas at subsidised prices, as oil prices fell over 16 per cent in the last fortnight.

The “under-realisation” on the sale of these products are projected to fall to Rs 660 crore daily from Rs 820 crore a fortnight ago as crude oil prices fell from record highs in the last fortnight. Under-realisation on petrol is projected to fall by up to 30 per cent from a fortnight ago, while that on diesel by 15 per cent.