The Economic Times

Rs 3 a litre fuel price hike cuts losses by 25 per cent; daily loss drops to Rs 750 crore

In a noteworthy shift, Indian oil corporations have curtailed daily losses by almost 25% thanks to a Rs 3 per litre increase in petrol and diesel prices. Nevertheless, ongoing global crude oil fluctuation and a depreciating rupee mean that fuel prices still linger below production costs. Currently, there are no discussions surrounding a government financial rescue plan.