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New Delhi : Nayara Energy, the country’s largest private fuel retailer, has started selling petrol and diesel at Re 1 less than public sector oil marketing companies. Reliance Industries Limited (RIL) and its UK partner BP Plc are already selling fuel at a lower price than PSU companies.
A Nayara Energy spokesperson said in a statement on Tuesday that to promote domestic consumption and provide better service, a rebate of Re 1 is being given at its retail outlets till the end of June, 2023. The company is selling petrol and diesel at Re 1 per liter less than IOC, BPCL and HPCL in 10 states including Maharashtra and Rajasthan. Nayara Energy has a stake of over 7 per cent in India’s 86,925 petrol pumps.
Public sector oil marketing companies Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) have raised the prices of petrol and diesel in the domestic market for a long time despite the fall in crude oil prices in the international market. not deducted from. On the other hand, private sector fuel retailers are passing on the benefit of this fall to the consumers.
