new Delhi. In order to reduce the burden of rising crude oil prices in the global market, companies have increased the prices of diesel by Rs 25 per liter. Now wholesale consumers will get diesel by Rs 25 more at the petrol pump.
In fact, this step has been taken to compensate for the confusion and losses in the bulk purchase of diesel used by the bus operators and in the malls. Now for the purchase of diesel from these bus operators and malls, Rs 25 more will have to be paid. However, this purchase will not have any effect on retail customers.
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it was going on like this messed up
The retail rate of diesel at petrol pumps in Delhi is Rs 86.67 per liter, while the price of diesel purchased in bulk for commercial use like malls, buses is Rs 115 per liter. Due to this huge difference of about 25 rupees, wholesalers were taking oil from petrol pumps instead of buying oil directly from companies. Due to this, the wholesalers of diesel, Naira Energy, Geo-BP and Shell were suffering a lot.
suddenly increased sales at petrol pump
In March, there was a big jump of 20 percent in sales at petrol pumps, as bus operators and mall owners were buying cheaper diesel from petrol pumps instead of companies directly. Due to this, the companies doing wholesale sales were continuously incurring losses. In view of this, now the price of wholesale diesel at petrol pumps has been increased by Rs 25 per liter, so that these companies can be saved from losses.
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Pumps were on the verge of closure
Diesel wholesalers had to shut down their pumps due to continuous losses, as in 2008, Geo-BP had shut down 1,432 pumps due to declining sales. The company now has 1,454 pumps, while Naira Energy has 6,510 pumps. 90 percent of the country’s petrol pumps are with government companies, whose total number is 81,699.
Sales grew rapidly in 15 days
Private retail companies have not given their sales figures, but data from government companies shows that the sale of oil at petrol pumps has increased significantly between March 1-15. During this, companies sold 35.3 million tonnes of diesel, which is about 32.8 percent more than a month ago. This Kovid has also reached 17.3 percent more than the prior level.
Tags: Diesel At All-Time Highs, Diesel price
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