Petrol price to change every day
Written by : SMTV24x7 | Wed, Apr 12, 2017, 04:46 PM
New Delhi, April 12: From coming May onwards The petrol prices will change according to the situation, first they are applying for the five places.
Coming in details, Come May 1, petrol and diesel prices will change every day in sync with international rates, much like what happens in most advanced markets.
State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), which own over 95 per cent of nearly 58,000 petrol pumps in the country, will launch a pilot for daily price revision in five select cities from May 1 and gradually extend it to all over the country.
"Oil companies will implement it on pilot project in 5 cities. After this, they'll decide what to do with rest of the country," Petroleum minister Dharmendra Pradhan said.
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh, he said.