IOC Warns LPG Losses Will Rise in November and December
Indian Oil says crude oil prices are volatile, with its buying swinging between discounts and premiums. It projects LPG under-recoveries of ₹309 per cylinder in November and ₹370 per cylinder in December. The statement came from Anuj Jain, Director (Finance).
Context
Context: Indian Oil is a state-run company that sells LPG, the cooking gas used in most Indian homes. When under-recoveries rise, oil firms lose money on each cylinder, which can lead to higher prices or government support.
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