Under-recoveries plunge, but ONGC left high & dry

Helped by a fall in global crude prices and the ongoing deregulation of fuel prices, under-recoveries at oil marketing companies plunged an annual 40% in the first quarter of this fiscal, but upstream oil major ONGC has been given little relief, having to foot exactly the same amount of subsidy bill in the five quarters through Q1FY14. 

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