Economy Forced price cut has no impact on oil retailing plans, says Reliance Industries Updated : October 18, 2018 07:33 PM IST Reliance was forced to shut down its retailing business following the sharp increase in under-recoveries following the spike in global crude prices since 2011. He, however, conceded that the company will have to cut the retail price due to competitive pressures. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.