OIL & GAS

No change in basic selling price of petrol, diesel: IndianOil

IndianOil has announced that oil marketing companies (OMCs) have made no change in the basic selling price of petrol and diesel.

“Considering the current crisis brought on by the COVID-19 pandemic, the OMCs have kept the prices of petrol and diesel unchanged with effect from April 1, 2020, which were otherwise also being maintained steady,” said IOC spokesperson in a press release.

The release also said that as per their commitment to the nation, PSU OMCs — IndianOil, BPCL, and HPCL — have fully transitioned to BS-VI compliant petrol and diesel across the country with effect from April 1, 2020, even in the face of the constraints posed by the COVID-19 pandemic.

However, the increase in the retail selling prices (RSPs) of petrol and diesel in some states like Maharashtra, Karnataka, West Bengal, etc., with effect from April 1 “is purely on account of the increase in VAT rates by the respective State Governments on both the products from that date.”

Source
ET Energy World
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