Road Transport Corporation (RTC) in Telangana and Andhra Pradesh received a major shot in the arm for covering up the losses after Indian Oil Corporation (IOC) agreed to give 30 Paise concession to the corporation on every liter diesel they buy.
An MOU regarding this between IOC and RTC was signed on Saturday. Through the 219 depots in Andhra Pradesh and Telangana, RTC is using 48 Crore liters of diesel every year. IOC, BPCL and HPCL are supply this diesel to the corporation. In this IOC alone is supply 75% of the Diesel.
As a part of the losses covering, RTC is proposing this concession for some time and finally IOC responded. As a result, RTC will be saving 10.5 Crore every year on Diesel. Currently Diesel costs 52.13 in Telangana and 53.75 in Andhra Pradesh, IOC suppply diesel will cost 30 Paise less from now.
