Cabinet throws open fuel retailing for non-oil companies, too
In a move that is expected to make auto fuel retail business more attractive, the government has has tweaked the guidelines for granting authorisation to sell petrol and diesel in the country.
The Cabinet Committee on Economic Affairs on Wednesday revised the norms and has now allowed companies with a net worth of ₹ 250 crore and more to get into this business.
The earlier policy for marketing transportation fuels mandated a minimum prior investment of ₹ 2000 crore in the domestic oil and gas sector.
“The existing policy for granting authorisation to market transportation fuels had not undergone any changes for the last 17 years, since 2002.
