The news source noted that Numaligarh Refinery’s (NRL) management had earlier decided to increase fuel prices at its retail outlets on par with the rise in international crude oil prices and also due to the non-payment of compensation by the Indian government.
The company has met with its dealers to discuss the fuel price hikes. After NRL has subsequently decided not to hike prices at outlets, fearing widening of losses. The company, which is active in the Indian Northeast, has also put on hold plans to expand its retail outlet network, according to PetrolWorld.
The company will reportedly initiate demand management measures, including reducing supplies, to shore up losses. NRL could also make changes in the working hours at its retail outlets, according to a senior company official.
NRL has also submitted demands to the government to be covered under the subsidy regime currently availed by the state-run retailers. The company stated that it is eligible for such an inclusion, as the state-run Bharat Petroleum owns an equity stake in NRL, according to the news source.
