Daily fuel prices rolled out, but dealers unhappy, shut shop in Karnataka

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At least 1000 petrol pumps across 7 districts in Karnataka has shut shop protesting against the move

 

Latest news : On a day when state-run oil marketing companies (OMCs) like Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) launched the daily revision of fuel prices, at least 1000 petrol pumps across seven districts in Karnataka have shut shop protesting against the move.

 

This comes after fuel dealer associations called off their plan to go for “no purchase” of fuel following intervention from Petroleum Minister Dharmendra Pradhan. “The move will wipe out the entire margins of marginal dealers. While oil marketing companies claim that 95 per cent of retail outlets are automated, only 5 per cent are automated. At least 1000 petrol pumps are shut down in seven districts of Karnataka with no purchase and no sale, while some outlets in Bangalore too have opted to go for no purchase,” said Ranjith Hegde, secretary of Mysore Petroleum Traders Association.

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All the major associations had called off their strike  after the government assured an increase in dealer commission from July.  When asked about this, a senior official from IOC told Business Standard, “The rollout of daily pricing was done smoothly and there is no disruption reported so far.” Pradhan had assured the dealers that the automation of petrol pumps will happen as soon as possible and a committee is set to submit a report on this within a month.

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