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Fuel Price Hikes Ease Daily Oil Company Losses
25 May
Summary
- Daily losses for state oil companies have decreased significantly.
- Under-recoveries now stand at approximately Rs 600 crore daily.
- Previous daily under-recoveries were as high as Rs 1,000 crore.
Financial burdens on state-run oil manufacturing companies have shown a slight easing. This improvement comes after a series of fuel price increases implemented by the government.
Previously, these companies faced substantial daily under-recoveries, estimated at around Rs 1,000 crore. As of Monday, this figure has decreased to approximately Rs 600 crore per day.
This reduction signifies a positive shift in the financial health of these state-owned entities. The repeated fuel price hikes appear to be effectively mitigating the extent of their financial stress.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
