Govt asks oil retailers not to raise petrol, diesel prices: Sources

Companies including IOC, Bharat Petroleum and HPCL will have bear a loss of up to Rs 1 per litre on sale of diesel and gasoline

India’s state-run oil retailers have been asked not to increase retail diesel and gasoline prices and absorb a part of the losses due to the recent recovery in global crude oil, people with knowledge of the matter said.

Companies including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. will have bear a loss of up to 1 rupee per liter on sale of diesel and gasoline, the people said asking not to be identified as the matter is private. Shares of Indian Oil fell as much as 7.6 percent in Mumbai, the most since November 2016 in intraday