Due to expensive crude oil and stable retail prices, private companies like Reliance-BP and Nayara Energy have limited the sales of petrol and diesel. This claim has been made in the Bloomberg report. It has been told in this report that crude oil has reached $ 107 per barrel in the international market, but the prices at petrol pumps have not changed since May. Because of this companies are incurring losses. According to the report, by doing this the company wants to stop those hoarders who fill fuel in drums and sell it at high prices. At Nayara outlets, now only a maximum of 200 liters of diesel and 30 liters of petrol is being filled in a vehicle. It is not clear how many sales have been banned by Reliance. Supply reduced due to Russia-Ukraine war and Middle East tension. Due to the ongoing tension in the Middle East and the Russia-Ukraine war, the supply of petrol and diesel has been adversely affected across the world. Due to this supply crisis, prices have increased significantly at the international level. Companies get profit in export, loss in selling in the country. Due to high prices in the global market, it has become more profitable for Indian refineries to export oil abroad instead of selling cheap oil in the country. According to rating agency ICRA, till September 9, private companies were incurring a loss of about ₹ 5 per liter on petrol and ₹ 23 per liter on diesel. Now this loss has increased with crude oil crossing $107. Earlier, Reliance-BP had imposed similar restrictions in April also. Daily loss of ₹ 530 crore to government companies: After the ban on private pumps, now the crowd of customers is turning towards the petrol pumps of government companies like Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL). These three companies have 90% share in the country’s retail fuel market. According to Union Petroleum Minister Hardeep Singh Puri, government refineries are incurring a daily loss of around ₹530 crore due to selling fuel below cost. Truck drivers are forced to stop repeatedly to refuel. The biggest impact of limiting diesel sales is visible on the transport sector. Truck drivers say that due to reduction in the quantity of diesel per vehicle at private pumps, they have to stop repeatedly to fill fuel in their vehicles. Due to this, both the time and cost of their travel are increasing.
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Reliance and Nayara limited the sale of petrol and diesel: Losses increased as crude crossed $107; Only 200L diesel will be available in one vehicle at Naira pumps.
