Reliance Industries to reopen all fuel pump outlets

By NewsgGram Staff Writer

Reliance Industries Limited (RIL) is getting all prepped up to reopen its entire 1,400 petrol pumps by the end of this fiscal.

RIL issued a presentation on the company's corporate results for the financial year ended March 31, 2015, that stated that it has already opened 320 of its petrol and diesel pumps subsequent to the complete deregulation of transport fuels.

In March 2008, RIL had shut down its entire its 1,432 petrol pumps due to the huge losses in keeping up with the public sector firms, which sold fuel at prices way lower than their cost as they enjoyed government subsidies.

It was in June 2010 that the government decided not to provide any more subsidies, which deregulated petrol pricing. In addition, diesel was also deregulated in October 2014. It motivated the private retailers to again enter the market.

RIL stated that they will launch customized loyalty programme for different customer segments, along with, "Fleet management programme providing better fleet control, cash flow management and cashless transactions."