Business
Oil secretary says private fuel sales caps are not allowed
Business Standard··2 Oct
Petroleum Secretary Neeraj Mittal said Thursday the government will direct private retailers to stop limiting petrol and diesel sales. Jio-bp capped diesel at 50 litres per customer per day while Nayara limits ranged from 70 to 200 litres, reports said. Mittal said nobody is allowed to cap sales. Hardeep Singh Puri said consumers remain insulated from energy price shocks.
Prism
What It Means For You
- Drivers using Jio-bp or Nayara stations may see caps lifted if companies comply after government directions.
- Households relying on retail petrol and diesel have seen pump prices unchanged since May despite crude volatility.
- Bulk diesel users such as telecom tower firms have crowded retail outlets, pressuring supply, reports said.
What's Happening
- Mittal spoke on the sidelines of the GOBARdhan scheme launch as the government targets 5 million new domestic piped gas connections.
- During PNG Drive 2.0 average daily domestic PNG connections rose 43 percent to 6,690.
- Puri said Brent crude was down to around $95 per barrel and could slip further.
Retailer Responses
- A Jio-bp spokesperson said measures aim to ensure equitable fuel availability amid industrial demand.
- Nayara Energy said its priority is optimum supplies to over 7,000 stations and bulk channels.
- Reliance Industries and Nayara restricted sales to limit losses from below-market retail pricing.
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