Bulk Diesel Price Hiked By 25%: Petrol Pumps Shut Down Across India

As a consequence of the 25 percent hike in diesel prices, many petrol pumps across India were shut on Monday. The price of diesel sold to bulk users in India, post the increase in international crude prices, was hiked by about Rs 25 per litre.

Prices to Bulk Users

To the bulk users in Mumbai & Delhi, diesel shall be sold for Rs 122.05 per litre and Rs 115 per litre respectively.

There are private retailers who have far refused to curtail any volume despite a surge in sales are the ones who are worst affected by it. This includes Nayara Energy, Jio-bp and Shell.  Claiming that due to the price differences customers are now opting for IOC, BPCL, HPCL and hence being unable to compete with them, several pumps of Shell, Nayara and Jio-bp have shut shops.

The Price Gap Is a Menace To Petrol Pumps

They said that due to a large difference of about Rs 25 per litre between the bulk user rate and petrol pump price has prompted bulk users to refuel at petrol pumps rather than book tankers directly from oil companies. Already the companies were bleeding from selling petrol and diesel at way below the cost, and this gap has made the matters worse.

As far as Mumbai and Maharashtra are concerned, stock availability is not a problem as of now.

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