Wednesday, May 22, 2024
    HomeHyderabadHyderabad Fuel Vendors in Need of Assistance for Uncertain Future

    Hyderabad Fuel Vendors in Need of Assistance for Uncertain Future

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    Retail petroleum dealers in Hyderabad are considering going on strike because they are worried about low dealership commissions and the potential for private companies to take over. They are also concerned about the increasing number of electric vehicles, which could impact their earnings in the next five years.

    The dealers feel that there has been a trend of approving more outlets owned by different companies like IOC and BP, without providing any financial guarantees or security to the existing 4000 petrol filling stations in the state.

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    Oil companies are now demanding bank guarantees and land from dealers to set up new fuel outlets, instead of conducting financial viability studies as they did in the past. This has led to a decrease in sales for existing dealers, especially in urban areas like Telangana.

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    The Indian Oil Corporation (IOC) petroleum dealers association state secretary Anil stated that running petrol pump outlets has become difficult, with some outlets struggling to cover monthly maintenance costs. Despite this, rural outlets still see profits during the farming season.

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    The association leaders are planning a strike to pressure the government and oil companies to address their concerns and demands.

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