As reports of fuel shortages start coming in from
areas like Tamil Nadu, Chattisgarh, Odisha, Kashmir and other states, the
Federation of Indian Petroleum Industry (FIPI) has urged the government to
intervene in the matter.
In its letter to the Oil Ministry, it said that
selling petrol at a loss of Rs 14-18 per litre and diesel at Rs 20-25 per litre
below soaring crude oil market prices is unsustainable.
The industry body has sought government
intervention to create a viable investment environment. It pointed out that the
loss was unsustainable amid a price freeze announced by the government.
The huge loss is forcing a cut in supply, which
is resulting in a dry run in states, said a report.