Petroleum and Natural Gas Minister Veerappa Moily has advocated for corrective steps to check losses on sale of subsidised fuel sales. In his letter written to the Prime Minister he has apprehended losses will rise to unprecedented one lakh 80 thousand crore rupees compared to last year's one lakh 61 thousand crore rupees. Moily has said that cost of importing oil has been rising following devaluation of India currency.AIR correspondent reports that losses on diesel sales at government-controlled rates have widened to 10.22 rupees per litre from 9.29 rupees a litre at the beginning of the month and less than 3 rupees per litre in May, even as prices are raised by 50 paise a litre every month. Besides, the oil companies lose 33.54 rupees per litre on kerosene and 412 rupees per 14.2-kg cooking gas (LPG) cylinder.
News On AIR | August 31, 2013 9:40 PM
Moily advocates for steps to check losses on sale of subsidised fuel sales