Indian Oil flags 617 rupee loss per LPG cylinder as regional conflict raises costs
Indian Oil Corp is reporting a loss of 617 rupees ($6.39) on each 14.2-kilogram liquefied petroleum gas cylinder sold, a sharp rise from 171 rupees in April, driven by supply disruptions linked to the Iran war and the closure of the Strait of Hormuz. The state-run fuel retailer has diversified crude, LPG and LNG sourcing, purchased LNG from non-Mid…