Business

Soon, petrol and diesel could be sold in supermarkets, says report

Updated : June 18, 2019 09:35 AM IST

The government is also likely to propose lowering the minimum requirement for companies entering the retail fuel segment, the report said.

The report further mentioned that if such changes are made, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.

Soon, petrol and diesel could be sold in supermarkets, says report

In order to improve fuel access, the Ministry of Petroleum and Natural Gas will soon come up with a Cabinet note which could ease existing norms, allowing supermarkets to sell diesel and petrol, reported Business Standard, citing sources.

According to the report, the note is likely to be made ready within the first 100 days of the newly elected government.

It is likely to propose lowering the minimum requirement for companies entering the retail fuel segment, the report said, adding that this will mean that current requirements such as having basic infrastructure investment of about Rs 2,000 crore in the domestic market, or providing bank guarantees for 30 lakh tonnes of crude oil or equivalent amount could be lowered.

The report further mentioned that if such changes are made, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space along with global majors such as Saudi Aramco.

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