IOC to earn profit on petrol sales again!

Indian Oil Corporation on Friday said it will again start earning profit on sale of petrol from Saturday, as the international crude prices have come down.

"Petrol margins will turn positive from Saturday. Based on the average crude price of second fortnight of October, it (margin) should be around Rs 4 a litre," IOC Chairman Sarthak Behuria told reporters.

However, the company would continue to make losses on diesel sales at about Rs 1 a litre.

Losses on sale of kerosene would be Rs 22 a litre and on LPG (cooking gas) Rs 343 per cylinder.

Global crude prices, which touched a record $147 a barrel in July, have since receded to $64 level on fears of a global recession.