Oil PSUs post loss of Rs 65,000 cr

“Oil prices in the international market are again on the rise. State-owned oil marketing firms are estimated to make a revenue loss of Rs 65,000 crore in this fiscal,” Petroleum Minister Murli Deora indicated while addressing Parliamentary Standing Committee attached to Petroleum Ministry here.

As a result of rising global oil prices the oil marketing companies are incurring under recovery of Rs 4.11 per litre on diesel, Rs16.88 per litre on PDS kerosene and Rs 272 per cylinder on domestic LPG sale.  “The government will continue to closely monitor prices and will strive for a balance between consumers' interest and financial health of oil PSUs.”