From Friday onwards, Petrol and Diesel prices will be revised every day. The prices will change every morning and dealers should sell the fuels at the fixed prices. At present, the prices are revised every two weeks.
Minister of State (Independent Charge) for Petroleum & Natural Gas, Dharmendra Pradhan said, ‘There were some concerns of dealer associations with regard to the daily pricing mechanism. It was decided that the price of petrol and diesel will be revised from 6 a.m. every day.’
Revision of prices on daily basis was already under implementation on pilot basis in five cities – Puducherry, Visakhapatnam, Chandigarh, Jamshedpur and Udaipur.
While, the Indian Oil Corporation Limited’s (IOCL) had released a mobile app to help customers keep a tab on the fluctuations on fuel prices. Customers can also receive the same information by sending an SMS, ‘RSP< SPACE >DEALER CODE’ to 9224992249.