IOC losing 1 bln rupees a day on fuel sales

State-run Indian Oil Corp, the country's biggest oil retailer, is currently suffering a daily revenue loss of 1 billion rupees on fuel sales in the domestic market, its chairman told reporters on Monday.

State-run Indian Oil Corp, the country's biggest oil retailer, is currently suffering a daily revenue loss of 1 billion rupees on fuel sales in the domestic market, its chairman told reporters on Monday.

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B M Bansal said a panel of ministers, which would meet later in the day, was expected to take a decision on recommendations of a government committee that favoured deregulation of petrol and diesel prices.