Petrol price revision: Traders threaten indefinite strike

New Delhi [India] June 10, (ANI): The Federation of All India Petroleum Traders (FAIPT) has threatened to go on an indefinite strike from June 24th, in protest against the daily revision of petrol prices.

"Dealers of the entire country have unanimously decided that the decision of daily revision of petrol prices should not be shelved, else the dealers shall observe "No Purchase No Sale" on June 16 for one day. In the event of no favorable response to drop this draconian decision, then they can go on an indefinite "No Purchase No Sale" from June 24, till such time this decision is annulled," Ashok Badhwar, president of FAIPT said in a statement.

The federation wrote to the Ministry for Petroleum and Natural Gas, stating that the move to introduce daily changes in petrol prices would only benefit oil companies and harms the petrol dealers involved in retailing of petroleum.

"Certain reports in a section of media suggest that oil marketing companies are planning to start daily revision of price of petroleum products. If the news is correct then it shall kill the petrol dealers involved in retailing of petroleum products in the entire country," the statement added.

The FAIPT president further said that if there would be a daily revision in prices, then the dealer shall have to be personally present at the retail outlet every night to implement the revised prices of petrol and diesel, which is beyond their physical competence.

"The new prices are communicated by the oil industry much later than 12:00 am. The dealer has to ensure the implementation of new prices in the dispensing units and thus he has to stay awake to effect price change," he said.

Asserting that the entire work of PSU oil companies not fully automated, Badhwar said changing the prices in the dispensing units through remote operations is not possible.

"We have never believed in giving any kind of strike call but such a measure of daily price revision shall ruin the very existence of dealers. Therefore, the Federation of All India Petroleum Traders pleads that system of daily revision of petrol prices should be dropped," Badhwar said in a statement.

He further sought the ministry's intervention to stop the oil companies not to embark on the decision.

In a bid to counter undercutting by private retailers and to bring India at par with the US oil market, state-run fuel retailers will revise petrol and diesel prices daily from June 16 across the country. (ANI)