Price of diesel sold to bulk users hiked by ₹25 per litre: Report
The price of diesel for bulk users has been increased by about ₹25 per litre in line with a nearly 40 per cent rise in international oil prices. However, retail rates for individual buyers at petrol pumps remain unchanged, PTI reported, citing sources.
Price of diesel sold to bulk users has been increased to ₹122.05 per litre in Mumbai as compared to ₹94.14 a litre price of the fuel sold to individuals. In Delhi, diesel costs ₹86.67 a litre at the petrol pump, but for bulk or industrial users it is priced at about ₹115.
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Sales of petrol pumps have jumped by a fifth this month after bulk users like bus fleet operators and malls lined up at petrol bunks to buy fuel rather than ordering directly from oil companies, widening the losses of retailers. The effect of this price hike has hit private retailers such as Nayara Energy, Jio-bp and Shell.
The huge difference of about ₹25 per litre between the bulk user rate and petrol pump price has prompted various bulk users to refuel at petrol pumps rather than booking tankers directly from oil companies. This has led to widening losses of oil companies, who were already selling petrol and diesel at way below the cost.
Looking at the current situation, closure of petrol pumps seems a more viable solution than continuing to sell more fuel at rates that have been unchanged for a record 136 days, three sources said. The retail prices of petrol and diesel have not been raised by PSU oil companies since November 4, 2021 despite a surge in global oil and fuel prices.
While Oil Minister Hardeep Singh Puri last week said that fuel sales increased 20 per cent due to hoarding in anticipation of price increase, PTI sources insisted the sales also increased because of bulk users are buying at petrol pumps.