When will the reliance petrol pumps are re-opened?
November 25, 2008 18:34 IST Reliance Industries [Get Quote], India’s largest private sector oil company that shut down all of its petrol pumps earlier this year because of huge losses, wants to restart selling petrol and diesel after margins on the two fuels turned positive. “Reliance has informed us that they are keen on reopening their outlets,” Petroleum Secretary R S Pandey said. The Mukesh Ambani-run company had shut all of its 1,432 petrol pumps around March after it could not compete with public sector companies, who sold fuel at rates much lower than their cost, as they got government subsidies. However, with the fall in international oil prices, margins on both petrol and diesel have turned positive. State-run oil companies Indian Oil [Get Quote], Bharat Petroleum and Hindustan Petroleum are making a neat profit of Rs 9.86 a litre on petrol and Rs 0.70 per litre on diesel. Essar Oil [Get Quote], the second-largest private fuel retailer in the country, had begun reopening its p
