Newspro24x7
BUSINESS NEWS ALERT

Now six private companies will also sell petrol and diesel in India, consumers can benefit

New Delhi. Very soon six private companies are going to enter the petrol-diesel market in the country. According to media reports, soon the government may allow all these companies to sell petrol and diesel. The names of these companies are IMC, Onsite Energy, Assam Gas Company, Emkay Agrotech, RBML Solutions India, Manas Agro Industries and Infrastructure Limited. After starting the business of these companies, a total of 14 companies in the country will start selling petrol and diesel. It is noteworthy that in the year 2019, the revised Market Transportation Fuel Rules were issued. In these, a provision was made to allow private companies to do business in the fuel market.

 

At present, government companies dominate

At present, the state-owned companies of the country have complete control in the petroleum market. About 90 per cent of the market business is in the hands of government companies, the remaining ten per cent is with RIL, Shell and Naira Energy. It is believed that these new companies will increase the competition going on in the market and fuel can be supplied to the remote and rural areas of the country. At present there are total 77094 petrol pumps in the country. Of these, IOC has 32062, BPCL has 18637, HPCL has 18634, RIL/RBML has 1420, NEL has 6059 and Shell has 264 petrol pumps. The remaining 18 petrol pumps are with others.

 

common man will benefit

According to experts, the government has allowed private companies to do business in order to increase competition in the petroleum retail business and benefit the consumers. According to the guidelines of the government, only those companies whose minimum net worth is Rs 250 crore will be given license. Companies will have to invest a minimum of Rs 2000 crore in this business. Apart from this, within five years of getting the license, companies will have to create at least 100 outlets, of which five percent should be in remote rural areas of the country.

 

Let us tell you that at present, government companies revise the prices of petrol and diesel every day. Giving business discounts to new companies will increase competition in the market and its benefits will reach the common consumers in the form of low prices of petrol and diesel.

Related posts

Three Pakistani terrorists of Jaish-e-Mohammed killed in Baramulla, one policeman martyred

Team Newspro24x7

India closed today on many issues including caste census, know where it will have more impact

Team Newspro24x7

Home Minister Amit Shah will see Akshay Kumar’s ‘Prithviraj’ on June 1, before the release, know why special screenings are being held

Team Newspro24x7

Government panicked by record exports, after wheat, now sugar exports are also banned from June 1

Team Newspro24x7

Violence over renaming of district in Andhra Pradesh, minister’s house burnt, many injured

Team Newspro24x7

Weather updates : There is a possibility of rain in Delhi even today, there is a possibility of thunderstorms in these states

Team Newspro24x7

Major accident in Karnataka, 7 killed, 26 badly injured in passenger bus and lorry collision

Team Newspro24x7

US President raised the issue of Russia-Ukraine war, Modi said – Quad became effective in a short time, democratic powers are getting energy

Team Newspro24x7

Qutub Minar is a monument, no religion is allowed to worship, ASI’s affidavit in Saket court

Team Newspro24x7

13 countries including India, America will become an alternative to China-centric supply chain

Team Newspro24x7

Good News on Inflation: Modi government alerted on inflation, first increased inflation, now it will fight inflation

Team Newspro24x7

Gyanvapi Masjid case : Another petition filed in Supreme Court, know what was demanded

Team Newspro24x7

Security forces on target of terrorists, red alert issued in Srinagar

Team Newspro24x7

Strong welcome to PM Modi in Japan, meeting with Japanese industrialists in Tokyo

Team Newspro24x7

Trees uprooted at many places in Delhi-NCR due to storm and rain, airlines affected

Team Newspro24x7

Big accident at Patna airport, iron structure collapsed during construction work, two laborers died, one broken spine

Team Newspro24x7

Important disclosure in WHO emergency meeting on monkeypox ; More than 100 cases confirmed in Europe so far, know 10 updates

Team Newspro24x7

The water of 60 big dams out of 140 in the country decreased, three dams in Rajasthan too

Team Newspro24x7

Corona’s fourth wave will come at the end of June? Know what the former director of AIIMS gave the answer

Team Newspro24x7

‘I will quit playing cricket’ – Virat Kohli surprised by hinting at retirement

Team Newspro24x7

The price is highest in Rajasthan, now the difference in the price of Diesel-CNG is only Rs.12

Team Newspro24x7

Car full of processions collides with tree, 7 killed, 10 injured in Karnataka

Team Newspro24x7

Weather Update: Change in weather patterns in these states including Delhi, possibility of thunderstorm and rain

Team Newspro24x7

Know how many new cases of corona came in Uttarakhand?

Team Newspro24x7

International Yoga Day camp will be organized on June 21 in Kedarnath

Team Newspro24x7

Education Minister’s daughter was given instructions to sack the Calcutta High Court, 41 months salary will have to be returned

Team Newspro24x7

Supreme Court extended the tenure of the inquiry committee by 4 weeks, now hearing will be held in July

Team Newspro24x7

Navjot Singh Sidhu sought time from the court for surrender, told the reason for ill health

Team Newspro24x7

Prashant Kishor told Congress’s Chintan Shivir failed, said – ‘nothing will be achieved’

Team Newspro24x7

Air India plane’s engine stopped in mid-air as soon as it took off, pilot had to make emergency landing

Team Newspro24x7