RIL begins selling petrol at same rate as PSUs in Gujarat
Mukesh Ambani-led Reliance Industries Limited today said its petrol pumps across Gujarat have begun selling the fuel at the same rate as that of oil PSUs, following the decontrol of petrol pricing.business Updated: Aug 10, 2010 23:19 IST
Mukesh Ambani-led Reliance Industries Limited today said its petrol pumps across Gujarat have begun selling the fuel at the same rate as that of oil PSUs, following the decontrol of petrol pricing.
"RIL's 162 petrol pumps across Gujarat have resumed operation today and have begun selling petrol at the same price as that of PSU oil companies," a company spokesperson said.
Of the 162 petrol pumps in Gujarat, 103 are company-owned-dealer-operated (CODO) and dealer-owned-dealer-operated (DODO), while 59 are company-owned-company-operated (COCO), he said.
According to the RIL spokesperson, the company was earlier at a disadvantage as it was not given the government subsidy that allowed the oil PSUs to sell petrol at lower prices.
"With the decontrol of petrol pricing, there is a level playing field and our petrol will be sold at the same price as that of other oil companies," he said.
RIL had closed down two-thirds of its petrol pumps across the country in 2008, when prices of crude oil shot up and petrol sales from its outlets became uneconomical due to higher prices compared to the PSU oil companies.
In June, the government had decontrolled petrol prices, causing a hike of Rs 3.5 per litre, and increased diesel rates by Rs 2 a litre, LPG by Rs 35 a cylinder and kerosene by Rs 3 a litre.