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Energy

Government to tell private fuel retailers to end sales rationing

Deccan Age · Energy · 2 min read
Banknote of India
Photo: Wikimedia Commons contributors (CC BY / CC BY-SA) — full credits

India will ask private fuel retailers to stop rationing fuel sales, Oil Secretary Neeraj Mittal said on Thursday: nobody is allowed to cap fuel sales. Reliance and Nayara have restricted diesel and gasoline sales to limit losses, since retail prices haven't been revised since May despite rising crude.

India will ask private fuel retailers to stop rationing fuel sales, Oil Secretary Neeraj Mittal said on Thursday, declaring that nobody is allowed to cap fuel sales.

Private refiners Reliance Industries and Nayara Energy have restricted diesel and gasoline sales to limit losses from selling below market rates, as retail prices have not been revised since May despite crude climbing above $100 a barrel.

State-run retailers are reportedly losing about Rs 50 per litre on diesel, underscoring the strain across the fuel supply chain.

Originally reported by Reuters. Article compiled by the Deccan Age desk.
#Fuel#Oil#Economy

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