On Tuesday, the commission paid by oil companies (oil marketing companies) to gasoline pump distributors was increased. Indian Oil Corporation (IOC) wrote on social media platform ‘X’: Indian Oil is pleased to announce dealer margin review after resolution of the pending matter. According to PTI News, this amendment will come into effect from October 30, 2024. According to PTI News, the companies have also said that there will be no change in the retail prices of petrol and diesel.
How much commission do you receive?
According to the report, the companies are rather saying that in fact, petrol and diesel prices will come down in states like Odisha, Chhattisgarh and Himachal Pradesh due to rationalization of movement of goods within the state. Dealer commission will vary based on sale and location. However, detailed details on this are not available at the moment. Currently, dealers charge Rs 1,868.14 per kiloliter as commission on petrol plus 0.875 per cent of the invoiced price. Diesel costs Rs 1,389.35 per kilolitre. Additionally, a commission of 0.28 percent of the billable value is available. This will benefit customer service standards and employees working at the petrol pumps.
The difference in retail price will be reduced
Indian Oil Corporation (IOC) said our efforts to provide affordable petrol and diesel on a sustained basis across the country have been successful. Indian Oil has worked to rationalize the cost of freight transportation within the state, which will reduce the variation in retail price in different markets within the state. Geographic areas where the Model Code of Conduct is in force are not included. Union Petroleum Minister Hardeep Singh Puri welcomed the move to rationalize movement of goods within the state, saying it would benefit consumers located in remote locations (far from petrol and diesel depots of marketing companies). of oil). As a result, gasoline and diesel prices will drop in many parts of the country.
The price will drop here.
Puri gave the example of Kunanpally and Kalimela in Malkangiri, Odisha. There, petrol price will be reduced by Rs 4.69 and Rs 4.55 respectively and diesel rates will be reduced by Rs 4.45 and Rs 4.32 respectively. Similarly, in Sukma, Chhattisgarh, the price of petrol will be reduced by Rs 2.09 and the price of diesel will be reduced by Rs 2.02. Prices will also come down in many places in Arunachal Pradesh, Himachal Pradesh, Uttarakhand and Mizoram. He said the increase in the dealer’s commission will provide better services to approximately seven million citizens who go to the petrol pumps in search of fuel. Further, fulfillment of this pending demand for the last seven years will benefit petrol pump dealers and around 10 lakh employees working at over 83,000 petrol pumps across the country.
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