IOC losing Rs 107 cr a day on selling fuel below cost
Country's biggest fuel retailer Indian Oil Corporation today said it is losing Rs 107 crore a day on selling auto and cooking fuel below cost even as it awaits the government to announce clear compensation package.
State-owned fuel retailers have seen losses on diesel sale touch a record Rs 10.74 per litre as government continues to bar them from raising rates in line with spurt in cost of raw material.