Reliance and BP draft plan for fuel dealers to avoid closures
Reliance Industries Ltd (RIL) and BP Plc, which operate more than 1,400 fuel retail outlets under the Jio-BP brand name, are drawing up a compensation plan for dealers to stave off closure, said three dealers aware of the discussions.
On March 16, RIL nearly halved fuel supply to its dealers owing to losses of Rs 10-12 per litre daily on the sale of diesel. The company has not resumed fuel supplies fully.
“To avoid shutting down the retail outlets, RIL is mulling a few options for compensating us. This could be either by way of financial support, payment of overhead expenses to an extent or altering the fuel supply further,” said a dealer from Bihar on condition of anonymity.
