{"id":478585,"date":"2022-03-25T11:08:04","date_gmt":"2022-03-25T05:38:04","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=478585"},"modified":"2022-03-25T11:08:04","modified_gmt":"2022-03-25T05:38:04","slug":"price-freeze-cost-ioc-bpcl-hpcl-2-billion-revenue-moodys","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/price-freeze-cost-ioc-bpcl-hpcl-2-billion-revenue-moodys\/","title":{"rendered":"Price freeze cost IOC, BPCL, HPCL $2 billion revenue: Moody&#8217;s"},"content":{"rendered":"<p>NEW DELHI: State-run fuel retailers, which control 90% of the Indian market, have lost more than $2 billion, or about Rs 19,000 crore, revenue by freezing pump prices between November 5 last year and March Deven though India&#8217;s average crude cost rose 35% during this period, Moody&#8217;s Investors Service said on Thursday.<br \/>\n\u201cBased on our estimates of average sales volume between November and first three weeks of March, the state-owned refining and marketing companies (IndianOil, Bharat Petroleum and Hindustan Petroleum) together have lost around $2.25 billion in revenue on petrol and diesel sales,\u201d the agency said in a report.<br \/>\n\u201cBased on current market prices, the oil marketing companies are currently incurring a revenue loss of around $25 (about Rs 1,900) per barrel and $24 per barrel on sale of petrol and diesel, respectively,\u201d the agency said in a report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: State-run fuel retailers, which control 90% of the Indian market, have lost more than $2 billion, or about Rs 19,000 crore, revenue by freezing pump prices between November 5 last year and March Deven though India&#8217;s average crude cost rose 35% during this period, Moody&#8217;s Investors Service said on Thursday. \u201cBased on our estimates of average sales volume between November and first three weeks of March, the state-owned refining and marketing companies (IndianOil, Bharat Petroleum and Hindustan Petroleum) together have lost around $2.25 billion in revenue on petrol and diesel sales,\u201d the agency said in a report. \u201cBased [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-478585","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/478585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=478585"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/478585\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=478585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=478585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=478585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}