RIL’s petrol pump at risk of closure due to high oil prices, Reliance plans to compensate dealers

RIL will give compensation to petrol pump dealers

The company may provide some financial assistance to these dealers or may pay overhead expenses or may also change the supply of fuel. However, in 2008, RIL had compensated dealers due to high crude oil prices and lack of support from the government.

There is good news for the pump dealers who are on the verge of shutting down the pump due to the crisis of diesel supply. reliance Industries Limited ,RIL) That is, RIL and BP plc are preparing to give relief to their dealers… so let us know what the relief will be. Actually, RIL and BP Plc have a plan to compensate their dealers. But what happened, so that he was forced to make such a plan. Actually diesel (DieselReliance supplied fuel to its dealers on 16 March due to a loss of Rs 10-12 per liter on daily sales of Rs.fuel supply) was almost halved. RIL is still not fully resumed fuel supply. However, now RIL is considering some options to avoid closure of retail outlets.

What relief can you get

The company may provide some financial assistance to these dealers or may pay overhead expenses or may also change the supply of fuel. However, in 2008, RIL had compensated dealers due to high crude oil prices and lack of support from the government. Reliance had offered an additional margin of Rs 500 per kiloliter on diesel and Rs 400 per kiloliter on petrol. Dealers who decided to stop selling the fuel were given a 12.5 per cent return on the capital invested in restarting operations. Some dealers feel that if the compensation scheme works, it will be of great help to them. Now they also know how many pumps of RIL and BP are operating across the country. So there are more than 1400 pumps running across the country.

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loss to companies on retail sale of oil

This situation has come because there is a sharp jump in the prices of crude oil in the foreign markets, due to which the oil marketing companies are incurring high losses on retail sales. Now they know how much loss the oil marketing companies are facing on petrol and diesel. Officials of oil marketing companies said that they are incurring losses of up to Rs 10 per liter on petrol and Rs 20 per liter on diesel. From 22 March to 6 April, the prices of petrol and diesel were increased 14 times. Due to the Russia-Ukraine crisis, the price of Brett crude has remained consistently above $100 per barrel. This has increased the pressure on the oil companies.