Oil firms losing Rs 1.37 a litre on petrol:
State-owned oil firms are losing Rs 1.37 a litre on petrol despite last month's Rs 0.70 per litre price hike, oil minister S. Jaipal Reddy said on Tuesday, but did not indicate if the rates will go up anytime soon.
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.