Financial Daily from THE HINDU group of publications
Sunday, Apr 17, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 17, 2005 |
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Industry & Economy
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Petroleum Petro dealers to go on nation-wide strike on Monday Our Bureau
Mumbai , April 16 PETROL stations across the country will remain closed on April 18 in protest against `inadequate' dealer commissions. The All-India Petroleum Traders has said that it would intensify protests if the Government did not meet its demands. Dealers want their commission to be increased to five per cent of invoice value. "Dealers' margins were 8.2 per cent in 1960 and have eroded to 1.92 per cent in 2001. Today we get only 1.52 per cent on petrol and 1.27 per cent on diesel. With steep price hikes imminent in the near future, the viability of petrol pumps will be at stake," said Mr Ravi Shinde, Convenor, Federation of All- Maharashtra Petrol Dealer's Associations. Petroleum traders had met the Petroleum Minister, Mr Mani Shankar Aiyar, on February 15 to request early review of recommendations made by a committee, which included directors from various oil companies, to review dealer margins.
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