Indian state-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), are reportedly losing nearly Rs 3 per liter on diesel, with reduced profit margins on petrol due to international oil price fluctuations. Despite a record Rs 69,000 crore profit in the first nine months of the fiscal year, the companies have not revised fuel prices for almost two years, citing market volatility and previous unrecouped losses.
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