MRPL delays retail expansion plans

Mangalore Refinery and Petrochemicals Ltd. has put on hold its plans to expand retail fuel outlets as India’s federal government is yet to lift state control over diesel fuel prices. “The expansion is on hold. We are awaiting government decision on diesel deregulation,” MRPL Managing Director Uttam Kumar Basu told Dow Jones Newswires. In July 2010, the South India-based refiner’s board approved plans to expand retail outlets after the federal government lifted state control over gasoline prices and said it will eventually free diesel prices as well. MRPL, which has two retail sales outlets, had then said that it will add 28 in the next fiscal year that starts April 1 and up to 95 outlets in fiscal year ending March 31, 2013. (March 23,2011)