Petrol and diesel prices will be revised on a daily basis from Monday May 01,2017 in select towns in sync with international rates.
State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), which own more than 95 percent of the nearly 58,000 petrol pumps in the country, will launch a pilot for daily price revision in five select cities from Monday and gradually extend it to other parts of the country.
A pilot for daily revision of petrol and diesel prices will be first implemented in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
State fuel retailers currently revise rates on the 1st and 16th of every month based on average international price of fuel in the preceding fortnight and currency exchange rate.
State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), which own more than 95 percent of the nearly 58,000 petrol pumps in the country, will launch a pilot for daily price revision in five select cities from Monday and gradually extend it to other parts of the country.
A pilot for daily revision of petrol and diesel prices will be first implemented in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
State fuel retailers currently revise rates on the 1st and 16th of every month based on average international price of fuel in the preceding fortnight and currency exchange rate.
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