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Shocker: Petrol Bunks to close at 8 pm in India
By: Tupaki Desk | 2 Sep 2013 2:54 PM GMT
The central government has been considering the proposal of shutting down the petrol bunks in the country between 8 pm to 8 am to check fuel demand as part of the move to cut the massive oil import bill. Oil Ministry is aiming to reduce India's oil imports by keeping a check on fuel supply across the country with the target of saving 20 billion US dollars.
Oil Minister Veerappa Moily confirmed that various proposals have been considered apart from shutting the petrol pumps for 12 hours. "We are looking into the idea of shut down of bunks at night. But, we haven't decided anything yet. We have to reduce consumption for bringing down the our imports. Else, this will lead to continues rise in petrol prices and fall in rupee," he told.
A fall of a rupee against US dollar will increase the import bill to Rs 7,900 crores. At present, Oil Companies have been incurring losses of Rs 10 per litre Diesel and Rs 33 per litre Kerosene. As per the estimates, the losses to the oil companies were to the tune of Rs 1,80,000 crores.
We have seen sharp rise in petrol (+2.35) and diesel (+50) prices per litre on Saturday. Don't be surprised if the prices go up after every week from now!
Oil Minister Veerappa Moily confirmed that various proposals have been considered apart from shutting the petrol pumps for 12 hours. "We are looking into the idea of shut down of bunks at night. But, we haven't decided anything yet. We have to reduce consumption for bringing down the our imports. Else, this will lead to continues rise in petrol prices and fall in rupee," he told.
A fall of a rupee against US dollar will increase the import bill to Rs 7,900 crores. At present, Oil Companies have been incurring losses of Rs 10 per litre Diesel and Rs 33 per litre Kerosene. As per the estimates, the losses to the oil companies were to the tune of Rs 1,80,000 crores.
We have seen sharp rise in petrol (+2.35) and diesel (+50) prices per litre on Saturday. Don't be surprised if the prices go up after every week from now!
