New Delhi: In a move aimed at easing operational costs for the Maharashtra State Road Transport Corporation (MSRTC), state-run oil marketing giants Indian Oil and Bharat Petroleum have announced a hike in diesel discounts. Starting August 1, the revised pricing will offer substantial financial relief to the loss-making public transport utility.
₹11.8 Crore Annual Savings for MSRTC
The decision comes after consistent efforts by Maharashtra Transport Minister Pratap Sarnaik, who also chairs MSRTC. Under the revised arrangement, Indian Oil Corporation Ltd. (IOCL) and Bharat Petroleum Corporation Ltd. (BPCL) will increase the diesel discount by 30 paise per litre.
MSRTC operates over 15,000 buses across the state and consumes nearly 10.77 lakh litres of diesel daily through its 251 depots. With the updated discount, the corporation is expected to save around ₹3.23 lakh every day, amounting to approximately ₹11.8 crore annually.
Sarnaik’s Push for Cost Control Pays Off
Minister Sarnaik stressed that MSRTC’s financial condition remains fragile, requiring aggressive cost rationalisation and alternative revenue models. The diesel discount is part of a broader recovery strategy, which includes the expansion of the fleet by 5,000 buses every year.
The new discount is expected to significantly reduce operational burdens as the corporation continues its turnaround journey.
About Indian Oil Corporation Limited (IOCL)
Indian Oil is India’s largest commercial oil enterprise under the Ministry of Petroleum and Natural Gas. With a vast network of refineries, pipelines, and marketing infrastructure, IOCL plays a crucial role in ensuring fuel accessibility and price stability across the nation.
About Bharat Petroleum Corporation Limited (BPCL)
BPCL is a leading PSU engaged in refining and marketing petroleum products. Known for its innovation in fuel distribution and energy efficiency, BPCL supports several government and public initiatives through its nationwide network of fuel stations and refineries.
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