IOC flags volatile crude prices and LPG under-recoveries
In short
Indian Oil said crude prices were volatile in the second quarter, and buying oil swung between discounts and premiums.
Anuj Jain also said LPG under-recoveries may be ₹309 per cylinder in November and ₹370 in December. The report does not say the final impact on IOC’s profits or customer prices.
What the reporting says
Indian Oil’s Director (Finance), Anuj Jain, said crude prices were volatile in the second quarter and that procurement moved between discounts and premiums, according to the supplied summary. He also projected LPG under-recoveries of ₹309 per cylinder in November and ₹370 in December. The reporting does not state whether these estimates change IOC’s earnings or pricing decisions.
Why it matters
Indian Oil’s finance director, Anuj Jain, said crude prices were volatile in the second quarter and procurement shifted between discounts and premiums. He also projected LPG under-recoveries of ₹309 per cylinder in November and ₹370 in December. The reporting points to pressure on IOC’s fuel economics, but it does not say how much earnings, subsidies, or retail pricing will be affected.