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Indian fuel subsidies suffocating refiners

Indian fuel prices must rise immediately or the country's downstream companies could face bankruptcy. But they probably won't, Yeshi Seli reports from New Delhi

PETROLEUM products prices must be raised immediately or India's oil-marketing companies could face bankruptcy, according to a government committee. India's public-sector oil-marketing companies will make large losses this year after selling refined products at below cost because of government price controls. That prospect has intensified the downstream industry's appeals for the government to relax price controls. A government committee set up in December to find solutions to a problem that discourages downstream investment and has in the past forced companies to shut down retail operations has called for immediate price rises. But this recommendation seems unlikely to be implemented: simil

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