Petrol-diesel price today: There is going to be a huge shortage of diesel! This company has supplied half

Highlights

  • There may be a shortage of diesel at Reliance’s petrol pumps
  • The company cuts the supply to petrol pump dealers by half
  • Loss of Rs 10-12 on the sale of one liter of petrol
  • Plan to increase supply to Europe for better profits

new Delhi: There may soon be a huge shortage of diesel at the petrol pumps of Reliance Industries, the country’s most valuable company. The Mukesh Ambani-led company has asked its dealers to be ready for a 50 per cent cut in the supply of diesel. Experts say that the company is incurring a huge loss of 10 to 12 rupees on the sale of one liter of diesel. Reliance may increase supplies to European countries for better profits where supplies have been affected due to the Russo-Ukraine war.

Sources told ET that Reliance’s meeting held on Wednesday night took the decision to cut diesel supply by half from Thursday. A Jio-BP dealer said, “My area manager told me last night that Reliance is going to cut diesel supply by half. That is, now I will get only half of the diesel I sold in December, 2021. They are considering December sales as their benchmark. After that the business was affected due to the Omicron variant of Corona.

India-Russia oil deal: India close to the deal with ‘Maha-discount’ of oil from Russia, relief will reach you!
1400 petrol pumps across the country
Reliance runs petrol pumps across the country under the brand name Jio-BP. It is part of BP-Reliance BP Mobility Limited (RBML). It was formed in 2020. BP had bought 49% stake in it for Rs 7,000 crore. It currently has 1400 petrol pumps across the country but the company plans to take this number beyond 5,500. For this, the company has planned to invest Rs 3,000 crore.

Another dealer said his diesel trucks returned empty from the dispensing station on Thursday. “Our area manager has told us not to sell more diesel to any customer as the supply is being short,” he said. This is not the first time that Reliance is doing this. This has happened before in 2006, 2009, 2012 and 2014 also.

Petrol-diesel price today: Government will stop companies from giving a blow to petrol
export to european countries
Industry experts say that Reliance may increase exports of diesel to European countries as it will benefit more from it. Supply to European countries has been affected after Russia’s attack on Ukraine. A senior official of an oil marketing company said that Reliance’s emphasis is on exports. The Eastern Provinces of Europe and America are its big customers. Even if prices rise domestically, it will be more profitable than export margins.

There has been a huge increase in the price of crude oil internationally but there has been no change in the price of petrol and diesel in the country since Diwali. Due to this, oil companies are incurring a loss of up to Rs 25 on one liter of petrol and diesel. On November 4, the price of crude oil was $ 83 a barrel, which is currently $ 99.15 a barrel. Meanwhile, on March 7, it had reached $ 139. Petrol in the capital Delhi costs Rs 95.41 and diesel Rs 86.67.

Petrol-diesel price: Petrol price in America is at record high, yet it is much cheaper than India
Reliance has two refineries in Gujarat that process 13.6 lakh barrels of crude oil per day. The company’s emphasis is on exports. After Russia’s attack on Ukraine, Europe has emerged as an attractive market for Asian refineries. The US and its allies have banned the import of crude oil from Russia.

Related Articles

Back to top button