Reliance petroleum outlets to strike from tomorrow

Kochi, June 7 (UNI) Retail dealers of Reliance petroleum in Kerala have warned that they would close down their outlets indefinitely from tomorrow to protest against the latest hike in prices of petrol and diesel over and above the public sector rates.

At a press conference here today, Reliance Petroleum Dealers' Association leaders claimed that the latest increase of Rs 2.70 per litre of petroleum on June 5, hit them badly, with business declining to the extent of 80 per cent.

The company had increased the rates twice in May, enhancing the price by Rs 2.70 per litre, thereby forcing a drastic cut in sales.

Now with another round of hike, the rates are higher by Rs 2.70 per litre compared to public sector companies'', they said.

There are 31 retail outlets in Kerala, each investing upto Rs 3 crore mobilised through bank loans. The Association demanded the company management to roll back the hike to place it on par with the public sector rates.

UNI JA VV RA RAI1913