Fuel sale coming back to pre-COVID level: IOC official

By: |
December 23, 2020 6:44 PM

In Maharashtra, the sale is yet to reach the pre-COVID situation and the deficit in diesel sale is still around 12 per cent, Executive Director and Maharashtra State head of Indian Oil Corporation Amitabh Akhauri told reporters here.

petrol priceBranded petrol is priced at Rs 92.12 per litre in Delhi and same grade diesel at Rs 82.99.

Fuel sale in the country is coming back to normal which also shows the reflection of normalcy in economy, a senior Indian Oil Corporation official said on Wednesday.

In Maharashtra, the sale is yet to reach the pre-COVID situation and the deficit in diesel sale is still around 12 per cent, Executive Director and Maharashtra State head of Indian Oil Corporation Amitabh Akhauri told reporters here.

“As an industry we saw growth in petrol sale in October by 2 per cent. But in November it remained down but this month we are expecting to reach back to pre-COVID situation,” he said.

“Since last month, the throughput of our refinery is 100 per cent and it shows that we are back to almost normal.”

About fuel sale in Maharashtra, he said that there are limitations in the state as cities are sometimes closed. “The COVID effect is still there as we can see there is night curfew imposed in cities. Still we expect to reach normal sale in terms of petrol but the deficit in diesel will remain,” he added.

Speaking about the new LPC cylinder named Chhotu which weighs just 5 kg, Akhauri said the company is planning to distribute it with the help of grocery shops and fuel outlets.

The cylinder can prove useful for travelling and floating population and can get the refill from any outlet of the company.

The company is also doing research in using hydrogen as fuel and batteries used for electric cars and also on charging stations.

The company has also launched XP 100 petrol used to enhance performance of high-end luxury cars and bikes in 15 cities across the country and Nagpur, Pune and Mumbai of Maharashtra are included in its first phase, Akhauri added.

About the company’s investments in Maharashtra, Akhauri said IOC is planning to invest Rs 2,600-2,700 crore in coming period. Of that, around Rs 800 crore will be invested in 2020-21.

The company is laying pipeline from Manmad to Solapur and the capacities of company in Manmad will be almost doubled.

The company is also establishing a bottling plant in Nagpur which will be operational in the next 2-3 months. The investment is of Rs 400 crore, he added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Centre asks states to curb hoarding of pulses; collect stock details from traders, importers, millers
2ISMA urges govt to raise minimum selling price of sugar to help mills clear cane dues
3Gold, silver rates surge for second week straight; expect bullion prices to continue rallying