Last year, Durga Puja/Dussehra as well as Diwali fell in October. This year the festival season, when consumption picks up, starts in the second half of October.
Petrol sales soared 12.1 per cent to 2.78 million tonnes in October, as compared to 2.48 million tonnes of consumption in the same month last year.
Petrol and diesel prices rose by Rs 10 per litre between March 22 and April 6 — the highest ever increase during a 16-day period since fuel prices were deregulated two decades back.
PK Goyal, director-finance, Indian Oil Corporation says, in an interview to CNBC-TV18, that there was no loss on petrol sales and adds that it was upto the government to tweak fuel prices.
State-run Indian Oil Corp has asked the government to reimburse Rs 2000 crore (USD 390.8 million) of under recoveries for petrol sales for the current financial year ending March, Chairman RS Butola said on Friday.