Bulk consumers usually buy fuel directly from petroleum companies, but this time they have bought from petrol pumps. This has increased the losses of the fuel retailing companies.
Diesel Price Hike: Diesel has become costlier by Rs 25 per liter for bulk consumers. Giving this information, sources said that this step has been taken after a 40 percent jump in international crude oil prices. However, there has been no change in the retail prices of diesel sold through petrol pumps. There has been a 20 percent jump in sales through petrol pumps this month. Bulk consumers like bus operators and malls usually buy fuel directly from petroleum companies, but this time they have bought from petrol pumps. This has increased the losses of the fuel retailing companies. Companies like Naira Energy, Geo-BP and Shell have been the most affected by this.
Due to the huge difference of Rs 25 in the rates for bulk consumers and petrol pump prices, wholesale consumers are buying fuel from petrol pumps. They are not booking tankers directly from petroleum companies. Due to this the loss of petroleum companies has increased further. Naira Energy did not respond to e-mails sent in this regard. Jio-BP said that there has been a huge increase in demand at retail outlets. Due to the difference of Rs 25 per liter in retail and industrial price, wholesale consumers are also buying from retail petrol pumps.
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Fuel prices have not increased since record 136 days
Three sources with knowledge of the matter said that the fuel prices have not increased for a record 136 days, due to which it would be the right option for the companies to shut down the petrol pumps instead of selling more fuel at these rates. Public sector petroleum companies have not increased the prices of petrol and diesel from November 4, 2021. However, there has been a jump in fuel prices globally during this period. It is believed that due to the assembly elections of five states, the fuel prices were not increased. The results of the assembly elections have come on March 10, but even after that, due to the second phase of the budget session of Parliament, the prices have not increased at the moment.
Rates have become so much in big cities
The price of diesel has increased to Rs 122.05 per liter for bulk consumers in Mumbai. At the same time, diesel is being sold at petrol pumps at a price of Rs 94.14 per liter. Similarly, diesel is priced at Rs 86.67 per liter at petrol stations in Delhi while it costs Rs 115 per liter for wholesale or industrial users.
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When Reliance Industries closed 1,432 petrol pumps
In 2008, the sales of Reliance Industries had come down to zero, after which the company closed all its 1,432 petrol pumps. Sources said that the same situation is happening even today. Wholesale consumers are buying from petrol pumps, due to which the losses of these retailers are increasing.
(Input-PTI)
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