New Petrol, Diesel Price Everyday in 5 Cities from May 1

By Rahul V on with 0 comments

New pilot project for daily price change on petrol and diesel in 5 cities.
The long pending proposal for day to day price adjustments on the petrol and diesel has moved a step forward.
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The oil companies are all set to sell petrol and diesel with daily changing prices from May 1, 2017 Monday in 5 cities of Chandigarh, Udaipur, Puducherry, Visakhapatnam and Jamshedpur as part of a pilot project to analyze the outcome and feasibility.

Dealers will be informed about the next day price at 8:30 pm everyday. Customers will be informed about the price changes via press release and SMS. Indian Oil Corporation spokesperson said at  in the some of its outlets price is changed automatically in the back end while at some outlets price should be changed manually. The new price is reflected midnight everyday.

The global prices are taken as benchmark to fix a base price. Taxes, commissions and other levies are added to base price. Presently fuel prices are changed on 1st and 16th of every months, based of the average of last fortnight.  The uncertain prices will prevent dealers from stocking up the fuel.

The pan India roll out of daily petrol and diesel prices will depend on the success of the pilot project in these 5 cities.

Category: Business News , Fuel Prices

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