Why reliance petrol pumps are closed

New Delhi: Reliance Industries has shut all of its 1, petrol pumps in the country after sales dropped to almost nil as it could not match the subsidized price offered by public sector competition. Public sector currently sell petrol at a loss of Rs Private firms such as Reliance were not entitled for the subsidy and priced fuel from their pumps at Rs a litre higher than public sector competition, leading to fall in market share.

Gujarat had the highest number of Reliance pumps at outlets, followed by Maharashtra , Uttar Pradesh , Andhra Pradesh and Rajasthan The gross under-recoveries of the state-run retailers on sale of petrol, diesel, domestic LPG and kerosene in are estimated at Rs77, crore, he said. Never miss a story!

RIL had captured the market share in by owning just 4 per cent of the total petrol pumps in the country. State-run retailers have since then swelled the network to 51, The company is again starting the fleet management programme wherein large fleet operators like truckers are given smartcards which their drivers could use for buying fuel without cash with deliveries that can be monitored online, thereby eliminating pilferage or theft.

RIL's present network comprises of about retail outlets that are owned by the company and the rest by dealers. We have updated our Privacy and Cookie Policy. If you continue to use our site, you agree to the updated Policies. Business , Companies. Updated Mar 29, , am IST. RIL had shut down all of its petrol pumps around March because of huge losses. RIL had shut down all of its 1, petrol pumps around March because of huge losses Representational Image. Piyush Pandey.

Rate Story. Font Size Abc Small. Abc Medium. Abc Large. We have decided to close all our company-owned retail outlets.

It has become unviable to transport fuel from our depots to retail outlets as the throughput from our retail outlets has almost become zero. ETPrime stories of the day Logistics How sustainable supply chains helped companies stay afloat in the pandemic. Subscribe to ETPrime. Browse Companies:. Find this comment offensive? This will alert our moderators to take action Name Reason for reporting: Foul language Slanderous Inciting hatred against a certain community Others.

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