IOC refuses to comment on petrol price hike

Chennai, Sep 10 (UNI) Declining to speculate about hike in prices of petroluem products, Indian Oil Chairman Sarthak Behuria said it is for the Centre to decide on the issue.

Talking to reporters here after the CPCL's 41st annual general meeting, he said, ''We can't predict or decide anything about the hike in petroleum prices...it is up to the Government to decide.'' Mr Behuria pointed out that currently petroleum companies were selling petrol and diesel less than the production rates. ''We sell petrol at Rs 2.81 less and diesel at Rs 4.68 less than the production price,'' he added.

He said IOC was incurring about Rs 80 crore loss every day in petrol and diesel production.

UNI