RIL, Essar respond to motor fuel retail discounts of OMCs

While RIL is offering flat discounts, Essar oil sticks to 0.75% discount on e-payments

Reliance Industries and Essar Oil, the two privately owned motor fuel retailers, are responding to the slump in sales due to demonetisation and the recent 0.75 per cent discount for cashless payment at public sector oil marketing companies (OMCs)-run outlets.

Reliance is offering a flat discount of Re 1 /litre, irrespective of the mode of payment. Essar is also giving a 0.75 per cent discount on digital/card payments.

"RIL's discount was started around two weeks earlier. Some market share was lost for a temporary period, as the public sector-run pumps were accepting the old Rs 500 and Rs 1,000 notes but the