Petrol Diesel limit: A new order has been issued by the government regarding oil. According to the new rules, customers who buy oil in bulk will no longer be able to buy oil from retail pumps. At the same time, a vehicle can now buy a maximum of 200 liters of diesel in a day. This decision has been taken by the central government in view of the losses being incurred by the oil companies. Let us tell you, due to the news of the agreement between Iran and America, the rate of crude oil in the international market has come down to the level of $ 86 per barrel. There was a time when the prices had crossed $ 100 per barrel.
Who will be unable to purchase petrol and diesel from retail outlets?
On June 11, the government enacted a ban on industrial and commercial clients from buying oil at retail pumps under the Essential Commodities Act (ECA). These clients are now required to obtain oil from consumer pumps to fulfill their needs. This group includes state government transport departments, IT parks, shopping malls, and industrial facilities.
What is the reason behind this decision?
The latest notification imposes the strictest limitations on diesel sales. This order will be in effect for a maximum of 90 days. Officials state that this measure aims to ensure that fuel is delivered to the appropriate recipients. Additionally, this decision seeks to prevent the diversion of auto fuel due to discrepancies between pump prices and bulk fuel prices. In Delhi, the price of diesel is Rs 95.20, while its wholesale price stands at Rs 134.50.
Decline in crude oil prices
India relies on imports for 88 percent of its crude oil requirements. The ongoing war has led to elevated prices, significantly increasing India’s import expenses. Prior to the Iran-US conflict, crude oil was priced around $70 per barrel, but it surged past $110 per barrel at one point. Fortunately, crude oil prices have recently dropped again. Just yesterday, the price fell to $86 per barrel.
This month, oil companies have refrained from raising petrol and diesel prices. In May, domestic petrol and diesel prices were increased four times, resulting in an approximate rise of Rs 7.5 per liter.