Fuel dealers seek compensation from NOC

fuel-dealers-seek-compensation-from-noc

, April 2

Petroleum dealers have sought from citing that dealers had to bear a loss of almost Rs 400 million following the ’s decision to bring down fuel price notably effective from today.

The state-owned fuel supplier has slashed price of petrol and diesel by Rs 10 per litre each while price of aviation turbine fuel (ATF) has been dropped by Rs 15 a litre effective from today amid plummeting price of fuel in the international market. However, dealers have claimed that they had huge volume of fuel in stock which was purchased at higher rates from NOC.

“We have large volume of fuel, which was purchased at a higher price, in stock as there have been no sales due to the ongoing lockdown. As a result, dealers have faced huge loss due to the significant drop in fuel price by NOC,” said Lilendra Pradhan, president of Petroleum Dealers Association (NPDA).

NPDA today wrote a letter to NOC bringing to light the loss faced by dealers and sought necessary compensation from the corporation. “We are not in a position to bear this loss. Thus, we have sought compensation from the corporation,” added Pradhan.

Pradhan claimed that dealers had kept fuel in stock following the direction of the government to maintain enough stock of petroleum products and ensure effective supply in the market.

With NOC’s decision to reduce price, dealers are obliged to sell petrol and diesel th


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