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Retail petrol and diesel prices, which already are at historic highs, should rise if the oil companies decide to pass on the surge in international oil prices to consumers.
Retail prices of petrol and diesel will not be impacted by the tax changes as state-owned oil firms will adjust them against the recent fall in oil prices, industry officials said.
Indian state retailers sold 50 per cent less refined fuel in the first two weeks of April than the same time a year ago as a nationwide lockdown to stem the spread of the new coronavirus hit transportation and industrial activity.
The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.
According to reports, several global oil companies such as Saudi-based Aramco have shown interest in the refinery.
Privatisation of BPCL will not just shake up fuel retailing sector long dominated by state-owned firms but also help meet at least a third of the government's Rs 1.05 lakh crore disinvestment target.
An unidentified source told Reuters that the company would lift up 1 million barrels this month.
Except for a deep breath on Wednesday, fuel prices have risen continuously for 11 days till Friday.
Petrol in Thiruvananthapuram was selling for Rs 82. 04 per litre up by 18 paise. Diesel has hit Rs 75.53 inching up by 24 paise.
The plant at Mahul road in Chembur area of Mumbai caught fire at around 3 pm, an official said.