For Quick Alerts
For Daily Alerts

RIL and Essar Oil unwilling to push up retail sale

By Religare

Reliance Industries and Essar Oil are unwilling to drive on the retail sales of diesel as they fear that the political considerations in the run-up to the elections may derail reforms again.

Oil companies are reluctant for private sales as the government earlier had decontrolled diesel prices in the past but re-imposed controls, making private pumps unviable, said the media report.

"The average crude oil prices, which was about $99 per barrel in the last fortnight, has risen by about USD 2. Both global crude prices and Indian political scenario are unpredictable," an executive of private oil firm told media.


Public as well as private fuel retailers feels that the month of May could provide an unique opportunity to the government to deregulate the fuel as it is expected that slide in the international crude oil prices may reverse, added the media report.

Moreover, current diesel are about Rs 3.80 per litre more than the government-defined market price, which is Rs 1.70 more than the price at which Indian firms export diesel. Thus private firms feel that exporting diesel gives them a better margin.

Read more about: ril essar oil
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more