Diesel deregulation to benefit consumers, says Essar Oil_Diesel deregulation to benefit consumers, says Essar Oil

Diesel deregulation to benefit consumers, says Essar Oil

May 31, 2024

NEW DELHI: The government’s decision to deregulate diesel will benefit Essar Oil.

Managing Director and CEO of Essar Oil said, “We welcome the government’s decision to deregulate diesel, which will not only help in controlling the fiscal deficit but also benefit the consumers as they can now buy diesel at market prices.” . CEO LK Gupta in a statement, the cost per liter has been reduced by more than Rs 3.

Diesel deregulation will also be private OMCC The system includes retail network. Gupta said that this will increase competitiveness and benefit the end consumer.

Chandrajit Banerjee, Director General, CBI “The government’s decision to deregulate diesel prices is a step in the right direction in the long run as it will help in reducing subsidies and balancing the fiscal deficit.” You have done the right thing.”

He added: “Moreover, subsidies should be targeted at a wider audience than those who do not need them.”

Welcoming the diesel price deregulation, FICCI Sidharth Birla said : “This is a very progressive step and underscores the government’s commitment to further advance the agenda of reforms, growth and fiscal discipline.”

The decision comes amid falling global crude oil prices. He added: “In any case, the price of diesel and other fuel products should reflect their real market value, which will encourage all users to save on diesel consumption and is in line with the objective of promoting environmentally sustainable growth.”

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Diesel deregulation to benefit consumers, says Essar Oil