BPCL slashes premium petrol & diesel prices
Bharat Petroleum Corp (BPCL) has slashed prices of its branded premium petrol and diesel with immediate effect that may force other oil marketing firms to follow suit.
By Rajeev Jayaswal, ET Bureau |
NEW DELHI: Bharat Petroleum Corp (BPCL) has slashed prices of its branded premium petrol and diesel with immediate effect that may force other oil marketing firms to follow suit.
Speed, its premium petrol, will be cheaper by Rs 2 per litre while the diesel variant, Hi-Speed, will come down by Re 0.50, bringing them closer to the regular petrol and diesel. With this, Speed will be only Rs 2 costlier than the company���s regular petrol retailed at Rs 40.62 per litre in Delhi, and Hi-Speed only Rs 1.75 more than the regular diesel prices at Rs 30.86 per litre.
The other two public sector oil marketing companies, Indian Oil Corp (IOC) and Hindustan Petroleum Corp (HPCL), are under pressure from dealers to reduce prices of premium products. ���We have demanded a reduction in prices of branded petrol and diesel to boost demand,��� Federation of All-India Petroleum Traders (FAIPT) secretary-general Ajay Bansal said.
Both companies as well as pump owners get higher margins on branded fuels. However, IOC, the biggest fuel retailer by marketshare, has no immediate plan to slash prices of its branded fuels, Xtrapremium petrol and Xtramile diesel.
���Our effort in making available branded auto fuels is not for profit considerations but to provide value-added fuels that can benefit the user and the vehicle. That is why we provide choice to buy normal or branded fuels to the customer in our retail outlets,��� IOC executive director (branding, corp comm and planning) N Srikumar said.
Speed, its premium petrol, will be cheaper by Rs 2 per litre while the diesel variant, Hi-Speed, will come down by Re 0.50, bringing them closer to the regular petrol and diesel. With this, Speed will be only Rs 2 costlier than the company���s regular petrol retailed at Rs 40.62 per litre in Delhi, and Hi-Speed only Rs 1.75 more than the regular diesel prices at Rs 30.86 per litre.
The other two public sector oil marketing companies, Indian Oil Corp (IOC) and Hindustan Petroleum Corp (HPCL), are under pressure from dealers to reduce prices of premium products. ���We have demanded a reduction in prices of branded petrol and diesel to boost demand,��� Federation of All-India Petroleum Traders (FAIPT) secretary-general Ajay Bansal said.
Both companies as well as pump owners get higher margins on branded fuels. However, IOC, the biggest fuel retailer by marketshare, has no immediate plan to slash prices of its branded fuels, Xtrapremium petrol and Xtramile diesel.
���Our effort in making available branded auto fuels is not for profit considerations but to provide value-added fuels that can benefit the user and the vehicle. That is why we provide choice to buy normal or branded fuels to the customer in our retail outlets,��� IOC executive director (branding, corp comm and planning) N Srikumar said.
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