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Fuel companies absorbed Rs 26.6k cr losses on sales in 5 years: Oil Ministry

2014-10-03 12:55:28| Oil & Gas - Topix.net

With CAG castigating state-owned fuel retailers for overcharging customers by Rs 26,626 crore over 5 years, Oil Ministry has defended the PSUs saying they had absorbed Rs 28,680 crore in losses on fuel sales during that period. The Comptroller and Auditor General of India in its latest report stated that Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp overcharged customers by Rs 26,626 crore from 2007-08 to 2011-12 by charging notional levies like customs duty on fuel they sold.

Tags: years sales companies oil

Category:Energy and Environment

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