The government and petroleum dealers have reached an agreement to increase the margin in four phases, with a 41 paise raise every fortnight, instead of a one-time increase.
After successful negotiations lasting seven hours, both parties have prepared a written agreement that will be signed by the Ministry of Petroleum, Oil and Gas Regulatory Authority (Ogra), and the Dealers Association.
Initially, the Ministry of Petroleum proposed a margin increase of Rs1.64 per liter on products. However, after several hours of refusal by the petroleum dealers, the increase will now be implemented gradually in four steps, with a 41 paisa raise every 15 days.
Sources privy to the petroleum dealers said that the full proposed increase will take two months to be realised.
Currently, the dealers’ margin per liter is Rs 6, which will eventually rise to Rs 7.64 per liter in the span of two months. Initially, petroleum dealers were demanding an Rs 11 per liter margin on products.
Govt reaches on agreement with petroleum dealers
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