Business EconomyPosted at: Apr 30 2025 11:50PM


IOC chairman AS Sahney rules out reduction in fuel prices

New Delhi, Apr 30 (UNI) Indian Oil Corporation (IOC) on Wednesday said it is not in a position to reduce fuel prices at this stage, citing tight profit margins despite improved operational performance and high capital expenditure requirements.
Responding to public expectations of a reduction in fuel prices, the IOC Chairman and Managing Director AS Sahney said, "We cannot comment on that. Despite significantly improved gross refining margins and operational efficiencies in Q4, including better distillate yields and reduced fuel and loss, we are still operating on tight profit margins.”
He stressed that any cut in fuel prices would adversely impact the company’s ability to pursue its growth agenda. "IOC is investing over Rs 40,000 crore annually in capital expenditure. This year alone, we plan to spend between Rs 30,000 to Rs 32,000 crore. These funds are crucial for our future readiness and infrastructure expansion," he added.
The Chairman made it clear that the current price levels must be maintained to ensure the financial health of the company. "While we are doing our best operationally, a reduction in fuel prices is not feasible at this stage," he said.
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