The headquarters of Indian Oil Corporation Limited (IOC) all dressed up to welcome in the New Year but 2008 did not quite start on such a good note for India's largest fuel retailer. The crude oil price has crossed the historical $100 dollar a barrel mark that means IOC will now see more red on its books for selling fuel products at prices capped by the government.
Oil cos' subsidy burden rises steeply
The headquarters of Indian Oil Corporation Limited (IOC) all dressed up to welcome in the New Year but 2008 did not quite start on such a good note for India's largest fuel retailer. The crude oil price has crossed the historical $100 dollar a barrel mark that means IOC will now see more red on its books for selling fuel products at prices capped by the government.
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