IOC seeks increase in petrol, diesel, LPG

NEW DELHI: Indian Oil Corp (IOC) on Tuesday sought an increase in the prices of petrol, diesel, domestic LPG and PDS kerosene as spiralling global oil prices had put enormous burden and may result in a revenue loss of over Rs 8,500 crore this fiscal.

“The government had taken a decision of sharing the burden of rising international oil prices equally between the oil companies, government and the consumer. I want the burden-sharing mechanism to be implemented... let the consumer pay,” IOC chairman Sarthak Behuria told a news conference here.