India has no plans for financial support for fuel retailers, official says
- Companies raise prices for some industrial, bulk customers
NEW DELHI: India has no plans to compensate state-run fuel retailers for losses from selling transport fuels below market prices, a senior petroleum ministry official said on Monday, even as companies raised prices for some industrial and bulk customers.
Indian state fuel retailers have raised prices of liquefied petroleum gas for industrial customers and jet fuel sold to foreign carriers, but there has been no increase in retail prices of gasoline, gasoil, LPG or jet fuel for Indian carriers.
READ MORE: India raises cooking gas, jet fuel prices
Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp have also raised diesel prices for bulk buyers.
Sharma said bulk customers account for about 10% of overall diesel sales.
The government’s efforts are focused on protecting the retail customers, she added.
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