Patiala: Following a hike in diesel prices by ₹25 per litre for bulk users, the Pepsu Road Transport Corporation (PRTC) has snapped its pact with the Indian Oil Corporation (IOC) over rebate issue.
With this, the state-run transport undertaking – PRTC – has moved to retail market for the purchase of diesel at market price to run its fleet of 1,113 buses across the state.
On March 21, the oil companies hiked price of diesel purchased by bulk buyers by ₹25 a litre due to high crude oil prices. The PRTC purchases diesel directly from the IOC under the pact. With the surge in prices for bulk purchasers, the PRTC would get diesel from IOC at ₹110.34 per litre. However, in retail, the corporation will get it at ₹85.34 a litre.
