Reliance Industries, which surrendered only-for-export status for one of its two refineries to enable domestic fuel sales, is set to start reopening its shut petrol pumps in next few days.
“Now that Reliance can sell fuel from its old refinery locally, petrol pumps will start reopening. All preparatory work is in progress and the first pump in Gujarat may start retailing petrol and diesel as early as Saturday,” an industry source said.
Reliance had a year ago shut its 1,432 petrol pumps as it could not compete with the subsidised rates of PSU retailers. With oil prices falling, the margins on auto fuel have turned positive again.
“The (old) refinery, which was operating as an Export Oriented Unit (EOU), will now operate as a non EOU refinery with effect from April 16 to cater to increasing demand of petroleum products in the country,” a company press release said on Friday.