Nobody is allowed to cap fuel sales: Petroleum Secretary
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Petroleum Secretary Neeraj Mittal said on Thursday that oil companies cannot cap fuel sales.
- ✓The government will tell retailers like Jio-bp and Nayara Energy that these limits are not acceptable.
- ✓Mittal said, "Nobody is allowed to put a cap on sales." Officials are now working to ensure fuel remains available.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Petroleum Secretary Neeraj Mittal said on Thursday that the oil marketing companies (OMCs) are not allowed to cap fuel sales and that the government will convey the same to the companies.
The government's response comes amidst reports of private retailers such as Jio-bp and Nayara Energy capping diesel sales. While Jio-bp is understood to have capped sales at 50 litres of diesel per transaction per day, Nayara has reportedly restricted sales in the range of 70-200 litres per transaction per day.
"Nobody is allowed to put a cap on sales, so if they are putting a cap on sale, we will take it up. We will tell them that it is not acceptable, it is not done. In the past also, letters have been issued. So, the same thing applies even today. There is no change in the government's view on this," Mittal said responding to reporters on the sidelines of the launch event of GOBARdhan scheme.
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