New Delhi: Different states of India may possibly witness a decline in prices of petrol and diesel prior to New Year’s celebrations according to the Union Minister for Petroleum and Natural Gas – Hardeep Singh Puri on Tuesday. The announcement which has provoked fuel consumers, it was_IN_ made through the social media platform X (formerly known as twitter) with the possible reduction of fuel price to make its benefits available to several parts of India.
Hardeep Singh Puri, in his social media post, wrote: “It gives us immense pleasure to announce an increase in commission for petrol pump dealers by Bharat Petroleum Corporation Limited (BPCL), from 30 October 2024. It will expand customer services and employees’ well-being at the petrol stations while deleting no added costs for clients. We look forward to our channel partners to continue to deliver service to our customers with trust, convenience and reliability.’
Expanding on the initiative, Ministry of Petroleum and Natural Gas, Hardeep Singh Puri said, “In our endeavour to provide affordable fuel to everyone, we are going to start an inter-state freight rationalisation to reign in on the price differential of petrol and diesel across states. This is will be of advantage to the consumers especially in the remote areas but for those states in the model code of conduct it will not be applicable.”
Out of all these rationalisation plans, this specific aim seeks to eliminate cross-regional disparities in fuel prices due to the cost of transporting petrol and diesel across states which should backward integrate the product to those in the less connected regions.
Big Discounts Only for Certain States
Hardeep Singh Puri also emphasised, “I welcome the decision by oil marketing companies to increase dealer commissions and streamline inter-state freight, aimed at providing relief to consumers in far-flung areas (those located far from oil marketing companies’ petrol and diesel depots). It means that many areas in the country will experience a lower price of petrol and diesel. However, this decision will be implemented at a later stage in those states which carry out elections and constituencies in accordance with the election code.
This, if well effected, could be big boost to consumers, especially given the fact that prices in remote areas and some states could drop. However, since few states are holding the elections, those modifications will take impact only after the election period in the concerned states.
A Positive Development to Beneficial to both the Dealers and the Consumers
Even the announcement of an increase in the commission for fuel pump dealers are one other act of BPCL that has sustained fair dealer margins while at the same time offering a just and reasonable price to the ultimate customer. The action is expected to enhance to service delivery to Puma customers with an indirect effect on Petrol stations, to selective customers’ benefit within the country.
The move to eliminate cross-subsidisation or more specifically a move which brought price differentials down whilst at the same time increasing dealer margins has been seen as a way of making fuel cheaper but also to offer better customer service at the pump.
As a New Year is on its way, the Indian consumers might be gearing for a lighter fuel expense – a boon ahead of the celebrations and New Year 2025.
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