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HPCL makes marginal profit on sale of petrol
After the recent easing of global crude oil prices, state-owned Hindustan Petroleum Corporation Ltd is making a marginal profit on domestic sales of petrol.
After the recent easing of global crude oil prices, state-owned Hindustan Petroleum Corporation Ltd is making a marginal profit on domestic sales of petrol.
"As of now, on an average we are making a profit of about 88 paise per litre on the sale of petrol,'' Mr M.B. Lal, Chairman and Managing Director, HPCL, told newspersons.
He said HPCL was losing about Rs 191 on every 14.2 kg cylinder of cooking gas, and Rs 19 on a litre of kerosene. "We are losing about Rs 5.90 a litre on sale of diesel,'' he said at the sidelines of a function here.
The public sector oil marketing companies have not been allowed to raise petroleum product prices in line with global crude oil rates as part of Government attempts to cushion domestic consumers from the fluctuations in the international crude prices.
India, which imports 70 per cent of the oil, raised retail petrol prices by 9.2 per cent and diesel prices by 6.6 per cent in June, the second time after September 2005, while crude oil rose by 12.3 per cent between the two price hikes.
The public sector oil marketing companies have not been allowed to raise petroleum product prices in line with global crude oil rates as part of Government attempts to cushion domestic consumers from the fluctuations in the international crude prices. 
