New Delhi, May 25 -- Even after the petrol and diesel price hike, the state-run oil marketing companies (OMCs) continue to lose around Rs 600 crore a day.
Sujata Sharma, Joint Secretary, Ministry of Petroleum said, "If you look at the global level, the price increase is in the range of 22 percent for motor spirit (MS) and 27 percent for high-speed diesel (HSD).""But in India, the hike is much less. For MS, it is 7.7 percent and 8.6 percent for HSD. But before increasing the prices, the government undertook all the possible measures. The government has reduced excise duty on petrol and diesel by Rs 10 per litre, resulting in a revenue impact of Rs 14,000 crore," Sharma said.
"Even after taking all these steps, OMCs were making losses of Rs...