IOC losing Rs 85 cr/day on sales

New Delhi, May 15 (UNI) State-run IndianOil Corporation (IOC) today said it was losing Rs 85 crore per day on sale of oil products.

''The company's revenue loss on sales of petrol stood at Rs 5.24 per litre, while on diesel it was losing Rs 4.4 a litre,'' Chairman S Behuria told reporters on the sidelines of a conference.

The company's current gross refining margins stood at 9-10 dollars per barrel, he added.

UNI