Oil marketing firms losing Rs.518 crore per day
Oil retailers are expected to lose Rs.13.91 on sale of each litre of diesel in the first fortnight of May.
Under recoveries on domestic LPG are pegged at Rs.480.50 per cylinder, according to data released by the petroleum and natural gas ministry here.
Marketing firms are losing Rs.31.49 on the sale of every litre of kerosene through the public distribution system. An empowered group of ministers headed by Finance Minister Pranab Mukherjee is likely to meet later this month to work out a mechanism to cut losses of oil marketing firms like Indian Oil, Hindustan Petroleum and Bharat Petroleum.
Image Source: AP
The water level of the Yamuna river has crossed the danger mark in Delhi, increasing the threat of flood. Locals are gearing to face the crisis as the rains are at least twice as heavy as usual in northwest and central parts of India.
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