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Tuesday, April 11, 2017

Be Prepared! Petrol, Diesel Pumps may remain closed on Sundays from May

Be Prepared! Petrol, Diesel Pumps may remain closed on Sundays from May

You may have to alter the weekly fill of fuel for your vehicle as petrol and diesel retailers across the country plan to remain closed on Sundays beginning May 10. The fuel retailers could also decide to be operational only for 8-9 hours on weekdays, according to multiple media reports.
The Consortium of Indian Petroleum Dealers (CIPD) meeting, attended by representatives from various states, has threatened to close fuel pumps on Sundays if their demand for an increase in dealer’s commission is not fulfilled by the central government.
In January, petrol pump owners had withdrawn their strike after public oil companies assured them of a revision in commission rates. So far, no concrete decision has been taken on the matter.
According to an Indian Oil Corporation circular, dealer commission on petrol currently stands at Rs 2.56 per litre while on diesel, the commission is Rs 1.65 per litre as on April 1.
On May 10, there will be ‘no purchase’ of diesel or petrol. From May 14 onwards, petrol pumps will remain closed on Sundays.
While CIPD is all for a quiet agitation, the All India Petroleum Dealers Association have decided to distance themselves from it.
“This will create panic. The association that has called for such a move has presence in only Kerala, Tamil Nadu, Karnataka, and Maharashtra. We are not supporting this decision, while we also have the same demands to increase (dealer’s commission),” Ajay Bansal, President of AIPDA said.
Petroleum Dealers’ Association said that dealers were only following Prime Minister Narendra Modi’s message of cutting fuel costs per day.
India has nearly 56,190 retail outlets. Of this, 52,604 are owned by public oil companies like Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum.
The three PSUs also control 95 percent of the market.
A recent report also suggests that the petrol pumps could have different fuel prices everyday. The state oil companies plan to review rates daily in sync with international practice, as against current practice of reviewing the every month.
India lifted control on diesel price in 2010 and petrol price in 2014, leaving them to be governed by market forces.
Source: Moneycontrol

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