NEW DELHI - Indian Oil Corp, the country's biggest petroleum products retailer, is unlikely to be affected by the surge in global oil prices as the average price of Indian imports was still around $63 to $64 a barrel, its chairman said on Friday.
Situation is comfortable because in the current mechanism we get bonds from the government, S. Behuria told reporters, adding the price rise was not a worry yet.
However, if oil prices remained high he said it might affect the company's revenues next month.
At 1112 GMT, crude oil CLc1 was trading at $77.17 a barrel, after hitting a year high above $78 earlier in the day.
(Reporting by Nidhi Verma; )