Coal News We love to talk!

APR 13 2018

Oil PSUs have not been asked to absorb hike in crude price: Pradhan

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 13th APR 2018

 

Public sector oil marketing companies are free to fix the price of auto fuels in the country said the Minister for Petroleum and Natural Gas, Dharmendra Pradhan.

Denying reports that the oil companies have been asked to absorb further hikes in petrol and diesel prices, Pradhan said, “There have been no directives issued to oil companies.”

Shares of PSU oil companies had plunged after Bloomberg reported that oil companies including Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation will have to bear a loss of up to Re 1 per litre on sale of diesel and petrol citing unnamed sources.

Tags

Gas Natural Gas Oil Diesel Oil Marketing Companies Petrol Diesel Prices Petroleum PSU oil companies

Related News

  • Gogoi questions Centre on oil royalty  Read more
  • Mahindra Sustens storage-cum-solar project in the Andaman islands scrapped  Read more
  • ONGC to invest Rs10,600 crore in western offshore fields  Read more
  • Govt cracks the whip on ONGC  Read more
  • IOC, LanzaTech ink Rs 350-cr pact to build first off gas-to-bioethanol unit  Read more
  • IOC seeks 2,700 acres to expand Paradip petrochem project  Read more
  • Indias fuel demand surges 6.7 per cent in October on higher auto fuel use  Read more
  • GAIL places Rs. 306-crore order for pipeline project  Read more
  • Petrol price cut by Rs 1.46 per litre, diesel by Rs 1.53 per litre  Read more
  • Petroleum minister reaches out to industry on gas pricing issue  Read more