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VERIFIEDET Finance·neutral
Rs 3 a litre fuel price hike cuts losses by 25 per cent; daily loss drops to Rs 750 crore
AI Summary
- ·Indian oil corporations reduced daily losses by approximately 25% following a Rs 3 per litre hike in petrol and diesel prices.
- ·Fuel prices remain below production costs due to fluctuating global crude oil prices and a depreciating rupee.
- ·There are no current discussions regarding a government financial rescue plan.