Prices of petrol, diesel to be revised daily from today

Daily revision of petrol diesel rates Petrol and diesel prices will be changed on a daily basis

Daily revision of petrol diesel rates Petrol and diesel prices will be changed on a daily basis

The central government rolled out its daily price revision policy for petrol and diesel fuels, across India, on Friday. The revised price will be updated at 6 am every day as per the movement referring the price on the previous day. The prices will vary from state to state because of local taxes. The oil companies were forced to change this after pump owners threatened to protest and go for a strike.

Earlier this month, the oil marketing companies decided to make the daily revision.

According to a government notification earlier, the step was taken in order to benefit dealers and customers with the change in the global rates of both petrol and diesel.

Currently, only 20 percent of the petrol pumps are automated. "It was a token protest aimed at expressing our position that daily revision of prices was not feasible till the support system of total integration of automation is not in place".

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Since last one month, Indian Oil is regularly conducting awareness sessions with dealers on daily price revision. A consumer can complain against a dealer if the price is not displayed. The move comes at a time when the crude oil prices are subdued and below $50 per barrel.

"Petrol pumps in Mysuru, Hassan, Chamarajanagar, Mandya, Ramanagaram, Davangere and some other districts had to shut down operations in the beginning of the day as they did not have stock. We are waiting for 15 days to see the results and then take a call on future action", said B T Ram Kumar, joint secretary of the Consortium of India Petroleum Dealers (CIPD). That of diesel is 7,000 TMT per day. Similarly, if prices rose, it was dealers who felt the heat, as they could not increase their own prices with immediate effect and had to wait for the next revision.

Q. What will be the range of variation from pump to pump?

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