Six more companies are preparing to enter the indian gasoline industry. The Centre would shortly approve IMC, Onsite Energy, assam Gas Company, RMBL Solutions India, Manas Agro industries and Infrastructure Limited, and MK Agrotech to sell petrol and fuel in the nation. According to a report, they would soon obtain clearance from the Centre to sell petrol and diesel across the nation. The overall number of businesses participating in the gasoline market will rise to 14 as a result of this. Private businesses, on the other hand, must still establish pricing after an average of 15 days which they are not clear on the pricing strategy.

The price of gasoline and diesel was reduced across the nation on Tuesday, according to a price notification given by state-run oil firms. petrol prices have dropped by 11 to 15 paise per litre, the second drop in three days. Government-owned firms presently control 90% of the petrol pump market. The price of diesel was reduced by 14 to 16 paise per lire.
New licences will be granted to firms with a net worth of at least Rs. 250 Crores, according to the Centre's rules. According to the 2019 requirements, firms must open at least 100 retail locations within five years after getting their licence, with five of them located in distant rural regions.
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Petrol & Diesel

Kailas Ashwin Sathish

24/08/2021 11:00 AM