Jan 26, 2013

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Posted on 3:35:00 PM | Categories:

Diesel decontrol sparks fresh hopes for pvt oil marketers

To be sure, private fuel retailers are no strangers to the market. Private fuel retailers had entered the sector after it was opened up in 2003. However, by 2006 most of them had started folding up their operations as international prices rose and it became difficult for them to compete with state-controlled Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, which sold petrol and diesel at government-dictated subsidised rates. As a result, diesel sales were virtually negligible for private oil companies since their price was higher than the oil marketing companies by about Rs 12 per litre.
Posted on 3:10:00 PM | Categories: