Reliance to compensate its petrol dealers

Agencies
Posted: 2008-04-05 18:05:13+05:30 IST
Updated: Apr 05, 2008 at 1805 hrs IST

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Reliance Industries will compensate its petrol pump dealers for the losses they incur while running the pumps, the company's President (Petroleum) Partha Maitra said.

RIL had set up about 1,350 petrol pumps across the country, of which 950 were owned by the company and have been closed due to unremunerative prices. However, the remaining 400 petrol pumps run by dealers are still in operation.

Maitra said the company will keep all its 950 petrol pumps idle and take review of the situation later. The Government cannot keep the present situation continue for long. Oil price in India will need to match the international prices, he said.

"This is the only segment in our business where we are making losses," he said.

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Reliance to compensate its petrol dealers

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