Business Standard

Private players seek govt intervention as fuel shortage rises in India

FIPI says companies are suffering a loss of Rs 20-25 a litre on diesel and Rs 14-18 a litre on petrol at present due to the non-revision of prices

fuel, oil, petrol

Fuel prices remained unchanged since May 21 when finance minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 a litre and diesel by Rs 6 a litre.

Shine Jacob Chennai
Despite the government bringing in private players under the universal service obligation last week (USO), there was a dry out of fuel outlets across the country on Sunday. While Madhya Pradesh, Rajasthan and Karnataka were mainly affected last week, reports of fuel shortage are now coming from Tamil Nadu, Chattisgarh, Odisha, Kashmir and other states too.

This comes as Industry body Federation of Indian Petroleum Industry (FIPI), which represents private fuel retailers such ad Jio-bp and Nayara Energy, approached the government stating that under-recoveries will limit the ability of private players to make further investment and expand. FIPI had said that

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First Published: Jun 19 2022 | 4:56 PM IST

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