Petrol pumps not to buy fuel from OMCs starting June 16, may go dry
Move comes in protest of daily change in petrol, diesel prices effective from June 16 Current Affairs : Petrol pump owners in India have decided not to purchase fuel starting from June 16, protesting against the “unilateral” decision by the government to roll-out the daily revision of fuel prices nationally. Though the associations are not terming it as a strike, they claim that “no-purchase” from June 16 onwards means petrol pumps are likely to go dry from the day their stock gets over. “It is not a strike, but there will be no purchase of petrol or diesel, starting from June 16,” Ajay Bansal, president of All India Petroleum Dealers' Association, told Business Standard. According to industry figures, India has about 57,000 fuel retail outlets, out of which state-run Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have a combined network of close to 53,000 outlets. Currently, IOC, BPCL and HPCL review ret...