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Rs 500, Rs 1,000 notes still valid at fuel outlets: Oil PSUs

Rs 500, Rs 1,000 notes still valid at fuel outlets: Oil PSUs

Mumbai: Allaying the fears of consumers, public sector oil companies today said all their authorised outlets will accept the now demonetised Rs 500 and Rs 1,000 bills till the midnight of November 11.

“All retail outlets and CNG stations of Indian Oil, Bharat Petroleum, Hindustan Petroleum, Gas Authority and other public sector oil companies will accept Rs 500 and Rs 1,000 currency notes from fuel consumers till the midnight of November 11,” Bharat Petroleum said in a statement on issued on behalf of the oil marketing PSUs this evening.

Similarly, all LPG distributors of IndianOil, Bharat Petroleum and Hindustan Petroleum will accept these notes from consumers till midnight of November 11, it added.

The companies also said there is no shortage of petroleum products. Consumers need not panic and may purchase only the quantity of fuel required to meet their need.

Meanwhile, Shell India, which has marginal presence in the fuel retail space, said its outlets will not be accepting the demonetised notes.

Only the outlets of national oil companies will be accept these notes, not Shell outlets, as private oil and gas firms are not authorised to accept Rs 500 and 1,000 bills from customers at their retail stations, Shell India Director (Retail) Ravi Sundararajan said.