Petrol prices are set to increase again by Rs 0.40 per litre, while diesel will see an increase of Rs 0.17 per litre, on an increase in dealers’ margin.
The increase will happen once the empowered group of ministers (EGoM) meets to review diesel prices. After a few cancellations, a fresh date for a meeting of the group has not been scheduled. Dealers currently get a commission of Rs 1.21 on every litre of petrol and Rs 0.76 on diesel.
Representatives of various dealers associations met Petroleum Minister Jaipal Reddy here today, seeking implementation of the increase in commission as suggested by a committee of the ministry. “The minister has assured us that the increase will happen after the meeting of the EGoM on fuel prices,” said Ashok Badhwar, president of the Federation of All India Petroleum Traders that represents around 38,000 petrol pumps.
The EGoM headed by Finance Minister Pranab Mukherjee will review the price of diesel, on which the oil companies are estimated to be losing Rs 14.66 on every litre. Badhwar said the pump owners have come under pressure due to an increase in wages, operating cost and high interest rates.
