Indian Oil Corporation review meeting later this week

The next phase of rise in diesel prices seems, unlike earlier, to be a non-combined exercise from the three government oil marketing companies ( OMCs). On January 17, the government allowed Indian Oil Corporation ( IOC), Hindustan Petroleum Corporation (HPC) and Bharat Petroleum Corporation (BPC) to eliminate the loss on sale of diesel to bulk consumers at one go and do a gradual rise in prices at monthly intervals for retail outlets — the government had suggested a 45-50p/litre rise at a time. A month gets over this Sunday, since the decision