Petrol Pump Business – The petrol pump business has always been a profitable venture. If you are thinking of opening a petrol pump, this information is very useful for you. Opening a petrol pump requires some important steps, which we will explain in detail.
First, you’ll need to choose a suitable location to open a petrol pump. This location should be high-traffic and easily accessible. Next, you will need to obtain a license from the petroleum company. You will need to apply for this by visiting the company’s website. You will also need to submit the required documents along with the application.
After obtaining the license, you will need to set up the necessary infrastructure for setting up a petrol pump. This includes tanks, dispensing units, and other equipment. To open a petrol pump, you’ll also need to obtain certain permissions from the government. These include environmental clearance, fire safety certificates, and other necessary documents.
After opening a petrol pump, you’ll need to hire employees to serve customers. Additionally, you’ll need to promote your petrol pump to attract more people. After starting a petrol pump business, you’ll need to regularly maintain it and provide quality service to your customers. If you follow these steps correctly, your petrol pump business will surely be successful and generate good revenue.
Major changes were made in 2019
Before 2019, to obtain a petrol pump license, a company was required to invest at least Rs 2,000 crore in hydrocarbon exploration, refining, pipelines, or LNG terminals. However, in 2019, the government relaxed these rules, stating that a company’s net worth must be at least Rs 250 crore to sell petrol and diesel in retail.
A minimum net worth of Rs 500 crore was set for both retail and bulk sales. It is mandatory to create infrastructure for an alternative fuel (CNG, LNG, biofuel, or EV charging) within three years of starting operations. At least 5% of the 100 retail outlets must be opened in rural areas.