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Jamshedpur fuel dealers incur loss after excise duty cut

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Jamshedpur, May 24: Kolhan Petroleum Dealers Association has expressed dissatisfaction against reduction in fuel prices. Kunal Kar, secretary of the Kolhan Petroleum Dealers Association has said that by reducing the excise duty excessively on Saturday, all the dealers of the country have suffered financial loss ranging from three to ten lakh rupees.

The price must be reduced, but by choosing the right path, a just decision should have been taken. Such unilateral decision is opposed and condemned by all the dealers.

Kar said in a press release issued on Tuesday that the day was specially selected by the Government of India in association with the oil companies. Because the depot is closed on Sundays, the petrol pump dealer has to store extra oil for additional stock to keep the law and order, emergency service and continuous supply of oil to the public transport till Monday. Therefore, suddenly reducing the excessive price of diesel petrol at 12 midnight on Saturday cannot be said to be justified.

According to Kar, the dealers of Jharkhand are on the verge of closure due to economic loss due to low oil sales due to high diesel prices in Jharkhand for the last two and a half years. Dealers cannot shut down the pump even after incurring financial loss, due to the fear of cancellation of license. The price of diesel is low in Jharkhand’s neighboring states.  92.76 in Kolkata, 89.64 in Lucknow, 93.39 in Bhubaneswar and 95.42 in Baharagora (Jharkhand). The difference between these states varies from Rs.6 to Rs.3. Due to less area and geographical location of Jharkhand state, customers coming from other states cross Jharkhand and take diesel in other states.

Kar has requested Chief Minister Hemant Soren and Finance Minister Rameshwar Oraon to reduce the price by reducing the VAT rate so that the pump dealers and their employees of Jharkhand state can overcome the pitiable situation. Along with this, we can give prosperity to the state by becoming the economic backbone.

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