Maharashtra State Road Transport Corporation (MSRTC) will save Rs 3.23 lakh per day after the fuel supplying companies agreed on increasing the discounts on diesel supplied to the state-run buses, officials said on Wednesday.

According to an official statement, from August 1, the companies including Indian Oil and Bharat Petroleum which supply fuel to the state-run buses will increase the discount on diesel supplied to MSRTC by 30 paise per litre. This will result in average savings of Rs 3.23 lakh per day, amounting to approximately Rs 11.8 crore per year.

It said that for over 70 years, MSRTC has been purchasing diesel from these public sector companies. At present, MSRTC requires an average of 10.78 lakh litres of diesel per day. As a major bulk purchase customer, MSRTC has been receiving a discounted rate. However, despite repeated requests, the discount had not been revised for many years.