Indian fuel retailers lost $2.25 billion in last five months: Moody’s
NEW DELHI: Oil Marketing Companies have lost around $2.25 billion in revenues from 5th November to 21st March, the period when they stopped revising fuel prices despite high crude prices in the international market.
As per a study by Moody’s Investors Service, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) are incurring around $70 million in daily losses on petrol and diesel sales.
