Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Petroleum dealers call nationwide strike on July 12

Author: IANS/Monday, July 3, 2017/Categories: Oil & Gas

Petroleum dealers call nationwide strike on July 12

Kolkata, July 2 (IANS) - The All India Petroleum Dealers' Association has (AIPDA) called a nationwide petrol pump strike on July 12, protesting against the oil marketing companies' failure to install 100% automated system at the pumps and lack of transparency in the daily dynamic pricing mode. The daily dynamic pricing mode had been been started from June 16.
 
 "Our national body AIPDA has called the nationwide strike on July 12. Ahead of that, we won't purchase any oil on July 5 as a mark of protest," West Bengal Petroleum Dealers' Association President Tushar Sen said.
 
 He said after the introduction of the dynamic pricing system, petroleum prices have been on a downslide. "But we are totally in the dark about the process. Small dealers are facing crisis".
 
 In West Bengal and other states, the automated system has been installed in only one percent of the petrol pumps, Sen said.
 
 "The oil marketing companies were supposed to install 100% automated system at the pumps. But they have not done it," he said.
 
 The government and the petroleum dealers had agreed on a daily pricing system as opposed to the earlier practice of the state-run oil marketing companies (OMCs) reviewing and revising retail fuel prices every fortnight on the basis of global crude oil prices.
 
 That revision used to take effect from midnight, prompting dealers to give a representation to Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan for a change in timing as under the daily pricing regime they would have to deploy manpower everyday to change rates at midnight.

Print Rate this article:
No rating

Number of views (226)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free