Published on 21/04/2017 4:08:56 PM | Source: Reuters

India plans home delivery of petroleum products

Posted in Stock Market| #India #Oil and Gas Sector #Stock Market

NEW DELHI - India is considering a plan for home delivery of petroleum products to consumers if they make a pre-booking to cut long queues at fuel stations, the oil ministry tweeted on Friday.

About 350 million people come to fuel stations every day, it said. Annually 25 billion rupees ($387.00 million) worth of transactions takes place at fuel stations.

India, the world's third biggest oil consumer, will be introducing daily price revision of petrol and diesel in five cities from May 1, ahead of a nation-wide roll out of the plan.

($1 = 64.6000 Indian rupees)

(Reporting by Nidhi Verma; Editing by Sunil Nair)