Fuel retailer Jio-BP reported 30% Year-on-Year (YoY) petrol sales growth in March. According to a Reuters report, the private sector company’s retail diesel sales also grew by 25% YoY during the same period.
According to the report, Akshay Wadhwa, CEO of Jio-BP, said that the company does not plan to raise fuel prices immediately. The statement comes amid the global fuel supply disruption due to the closure of the Strait of Hormuz.
Jio-BP is a 50:50 joint venture of Indian petroleum behemoth Reliance Industries and British Petroleum. The company operates about 2,000 retail outlets across India.
No plan to limit fuel dispensation
Wadhwa said that the company has adequate fuel supplies and has not imposed any limits on retail sales of petrol and diesel. His clarification comes after the earlier Bloomberg report that the company was capping sales at Rs 1,000 per customer.
The Jio-BP CEO clarified that there is no mandate limiting the amount of fuel dispensed to customers, and that an isolated, localized situation may have led to this experience.
Petrol-Diesel price today
Petrol and Diesel prices remain unchanged across the country. Today, April 10, the petrol price in Delhi is Rs 94.77 per liter. Petrol prices in other major metro cities, Mumbai, Chennai, and Kolkata is Rs 103.54 per liter, Rs 100.84 per liter, and Rs 105.45 per liter, respectively.
Furthermore, today, the retail diesel price in Delhi is Rs 87.67 per liter. The diesel price in other metropolitan cities, Mumbai, Chennai, and Kolkata, is Rs 90.03 per liter, Rs 92.39 per liter, and Rs 92.02 per liter, respectively.
Crude oil price today
Oil prices climbed on Friday, driven by fresh anxiety over Saudi Arabian supplies and by tanker traffic through the critical Strait of Hormuz remaining largely frozen. Prices were still headed for a loss as nerves eased over a fragile two-week ceasefire between the U.S. and Iran, while Israel signaled a potential diplomatic opening, saying it was ready to begin direct talks with Lebanon as soon as possible.
Brent crude futures added 96 cents, or 1%, to $96.88 a barrel on Friday. West Texas Intermediate futures were up 78 cents, 0.80%, at $98.65 a barrel.