RIL-BP: Fuel retail is unsustainable
Business Standard|May 24, 2022
Reliance (RBML) venture BP Mobility the joint of Reliance Industries and supermajor BP - has told the central government that fuels retailing for the private sector in India has become unsustainable after market-controlling public sector firms frequently froze petrol and diesel prices at rates way below the cost, sources said.
RIL-BP: Fuel retail is unsustainable

Despite a surge in oil prices, state-owned Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL) first froze petrol and diesel rates for a record 137 days beginning in early November 2021 when five states including Uttar Pradesh went to the polls, and last month again went into a hiatus that is now 47 days old.

"They (Reliance BP Mobility Ltd) has written to the petroleum ministry over the fuel pricing issue," a highly placed source in the government, who didn't want to be quoted, told reporters here.

Esta historia es de la edición May 24, 2022 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.

Esta historia es de la edición May 24, 2022 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS STANDARDVer todo
T20 WORLD CUP: NETHERLANDS BEAT NEPAL BY 6 WICKETS
Business Standard

T20 WORLD CUP: NETHERLANDS BEAT NEPAL BY 6 WICKETS

The Netherlands beat Nepal by six wickets with eight balls to spare in a tight contest that was delayed by rain at the Grand Prairie Stadium, Dallas, Texas, on Tuesday night.

time-read
1 min  |
June 06, 2024
Business Standard

QS Rankings: IIT Bombay, IIT Delhi in top 150

The Indian Institutes of Technology (IITs) Bombay and Delhi are among the top 150 universities in the world, while the Massachusetts Institute of Technology (MIT) retained the top rank globally for the 13th time, according to the QS World University Ranking, 2025 announced on Wednesday.

time-read
1 min  |
June 06, 2024
Delhi reports 3rd hospital fire incident in 2 weeks
Business Standard

Delhi reports 3rd hospital fire incident in 2 weeks

A major fire incident took place in an eye hospital based in Southeast Delhi's Lajpat Nagar on Wednesday, marking the third instance of hospital fire in the national capital in two weeks.

time-read
1 min  |
June 06, 2024
'Food processing industry should focus on quality'
Business Standard

'Food processing industry should focus on quality'

A mid growing scrutiny of processed food in the country, a senior official at the Ministry of Food Processing Industries on Wednesday asked that industry to take a cue from international standards even if they have to \"compromise a little\" on profit margins.

time-read
1 min  |
June 06, 2024
United Spirits may lose fizz on near-term woes
Business Standard

United Spirits may lose fizz on near-term woes

Long-term prospects promising, but there are no immediate triggers

time-read
2 minutos  |
June 06, 2024
VOLATILE DURING POLL RESULTS, LUCRATIVE 6 MONTHS LATER
Business Standard

VOLATILE DURING POLL RESULTS, LUCRATIVE 6 MONTHS LATER

As is the case now, equity markets always tend to be highly volatile around the time of election results.

time-read
1 min  |
June 06, 2024
Business Standard

Kronox Lab IPO subscribed 117.25x on last day

The initial public offering (IPO) of Kronox Lab Sciences garnered 117.25 times subscription on the closing day of bidding on Wednesday.

time-read
1 min  |
June 06, 2024
Business Standard

Policy, valuations could keep rural stocks in play

Most brokerages are betting that the new government will shift to a policy focusing on boosting rural incomes and consumption since that has clearly been a pain point.

time-read
2 minutos  |
June 06, 2024
Business Standard

Regulator mulls raising limit for basic-service demat account to ₹10 lakh

Markets regulator Securities and Exchange Board of India (Sebi) on Wednesday proposed to enhance the threshold for the basic service demat account (BSDA) to 10 lakh from the current ₹2 lakh in a bid to boost the participation of retail investors in the securities market.

time-read
1 min  |
June 06, 2024
Sebi eases timelines for FPIs to disclose material changes
Business Standard

Sebi eases timelines for FPIs to disclose material changes

The Securities and Exchange Board of India (Sebi) has relaxed the timeline for foreign portfolio investors (FPIs) for reporting and disclosing material changes.

time-read
1 min  |
June 06, 2024