Business Daily from THE HINDU group of publications
Friday, Apr 13, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Apr 13, 2007 ePaper |
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Marketing
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Channels and Franchises Industry & Economy - Petroleum Petrol dealers drop stir plan Our Bureau
New Delhi April 12 The Federation of All India Petrol Traders has called off their proposed agitation and call to close retail outlets on April 13. An announcement to this effect was made after a meeting with the Petroleum Minister, Mr Murli Deora, here today. Speaking after the meeting with the dealers, Mr Deora said, "the strike notice has been withdrawn, the strike has been cancelled. We will look into their demands." He said that Government would endeavour to take a decision on the demand of the FAIPT for increase in commission on petrol and diesel by May 1 after consultation with Oil Marketing Companies (OMCs). The dealers are demanding 5 per cent of invoice value in commissions for each transaction, citing a rise in the cost of wages and overheads. Currently the dealer commissions works out to be 1.6 per cent of the invoice value. The dealers get commission of Re 0.89 on sale of every litre of petrol and Re 0.52 on sale of every litre of diesel. Regarding the issue of raising stock variation ceiling, the representatives of FAIPT were informed that a study by Indian Institute of Petroleum (IIP) has already been commissioned to examine the impact of different climatic conditions in India on petrol and diesel stocks.
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