Daily Price Revision
Daily Price Revision News
Fuel prices continue to soar: Petrol creates a record in Mumbai at Rs 90.22 per litre; diesel at Rs 78.69
An official said that there was no fall in demand with the festival season currently on, and the upward trend was likely to continue for some time.
The daily price revision was just mean to be a shock absorber. The price rise will indeed pinch. These tips will come in handy
The daily price revision means an instantaneous transfer of a rise or decline in international oil price to the consumer instead of the previous practice of passing it on only after a fortnight.
Petrol and diesel prices were de-regulated, or freed from government control from 1 April, 2002 and the fortnightly revision in rates kicked in.
You can verify the prices via SMS, apps, company website or toll free number
From tomorrow (16 June), petrol and diesel rates will be revised in sync with any movement in international oil rates. Rates will change at 6 am everyday depending on movement in cost on the previous day.
Daily price change will remove the big leaps in rates that need to be effected at the end of the fortnight and consumer will be more aligned to market dynamics
On Wednesday, Oil Minister Dharmendra Pradhan in a meeting with top executives of oil PSUs asked them o quickly extend new pricing mechanism to entire country
Will the government continue to increase central and state levies on petrol and diesel to largely negate any benefit of global softening of crude prices – this remains the key question.