IOC, HPCL, BPCL may post 2nd consecutive quarterly loss in July-Sept
In the first quarter, record refining margins were wiped away by losses booked on not revising petrol and diesel prices daily in line with cost. While the difference between cost and retail selling price of petrol and diesel has narrowed, refining margins have fallen in the second quarter (July-September), worsening finances of the three firms.
