State-run oil retailers are expected to save around 930 million rupees a year from 5 percent cuts to petrol and diesel freight rates announced in Tuesday's rail budget.
Leading oil marketing firm Indian Oil Corp is only expected to gain by around 200 million rupees in the next fiscal year from April as it uses its own pipeline network for transporting fuels, a company spokesman said.
Hindustan Petroleum Corp's director of finance, Bhaswar Mukherjee, said his firm would be better off to the tune of 380 million rupees in 2008/09.
"On the basis of estimated numbers for next fiscal we will save 80 million on petrol and 300 million on diesel," he said.
Bharat Petroleum Corp will save around 350 million rupees, its director finance S. K. Joshi said.
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