The dealers are demanding an ad valorem rate of 5% on the invoice value as their commission - about Rs 2 a litre on petrol and Rs 1.10 on diesel.
NEW DELHI: About 32,000 petrol pumps across the country will down their shutters from midnight tonight for a one day strike, to be followed by an indefinite strike from April 28 if their demand for a higher margin is not met.
The petroleum dealers of public sector companies, under the banner of the Federation of All India Petroleum Traders (FAIPT) had a meeting with petroleum minister Murli Deora on Wednesday, but with their demands unresolved, they have decided to go ahead with the strike.
The dealers are demanding an ad valorem rate of 5% on the invoice value as their commission. This translates to about Rs 2 a litre on petrol and Rs 1.10 on diesel. The margins that were fixed at 80 paise for petrol and 50 paise for diesel in 2005 were recently increased by 5 paise, but dealers are not happy with this.
They are also demanding that the evaporation loss that is borne by them should instead be borne by the oil companies. In a statement issued by the Union ministry of petroleum and natural gas after the meeting with dealers, Deora said the 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).
Regarding the issue of raising stock variation ceiling, the representatives of the federation were informed that a study by Indian Institute of Petroleum (IIP) has already been commissioned to research the impact of different climatic conditions on petrol and diesel stocks.
The IIP will be submitting its report by mid-July, which will be examined expeditiously. “The issue of stock variation requires in-depth and serious scientific studies before effecting any change in the present norms,” said the statement.
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