A proposed major policy reform may allow foreign energy companies and supermarket chains to sell automobile fuel like petrol and diesel on retail. If the Cabinet proposal of the oil ministry is implemented you may be able to buy fuel for your vehicles from supermarkets on retail along with your weekly shopping, reports suggest.
The oil ministry has proposed to scrap the two-decade-old rule of restricting the licence to market petrol, diesel and jet fuel to players investing Rs 2,000 crore in exploration and production, refining, pipelines or terminals, a report in the Economic Times said citing an unidentified source in the know of the developments. The ministry is consulting the finance, commerce, and law ministries for the proposal.
It was prepared from the recommendations of an official panel formed in March to review the 2002 guideline on the grant of transport fuel marketing licence, the source said. Read more