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Chennai: Punk owners’ protest against the purchase of petrol and diesel in Tamil Nadu yesterday has affected the business of oil companies to the tune of Rs 450 crore.
Public sector oil companies have petrol and diesel depots at Tiruvallur-Attipatti, Chennai-Korukkupettai, Madurai-SIDCO Estate, Coimbatore-Irugur and Tirunelveli.
In this regard, the President of the Tamil Nadu Petroleum Vendors Association Murali said: The oil companies have ordered to keep the required stock of petrol and diesel for four days in the tanks in the petrol stock. Petrol and diesel are kept in reserve by paying all taxes accordingly. Three rupees for a liter of petrol; The commission for diesel is Rs 1.89.
Even if the federal government reduces the excise duty, the oil companies will have to set new prices only after the petrol and diesel reserves held by the punk owners are exhausted. Failure to do so will result in loss to the owners. This places a heavy burden on punk owners who are already paying low commissions.
When the excise duty is reduced, punk owners will have to set prices in a way that will not affect them. In Tamil Nadu, one day petrol and diesel purchases have affected the business of oil companies to the tune of Rs 450 crore. Our struggle has not affected the customers. Thus, he said.
Chennai: Punk owners have stopped buying petrol and diesel in Tamil Nadu and staged a protest yesterday.
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