Petrol And Diesel Prices to be Revised Daily From Today
Petrol and diesel prices will be revised on a daily basis from tomorrow in select towns in sync with international rates, much like it happens in most advanced markets.
An employee counts money at a fuel station. (Files/Reuters)
New Delhi: Petrol and diesel prices will be revised on a daily basis from Monday in select towns in sync with international rates.
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, PTI quoted from IOC’s statement.
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.
IOC said petrol in Udaipur costs Rs 70.57 a litre and diesel Rs 61.23, while in Jamshedpur petrol costs Rs 69.33 a litre and diesel Rs 60.26.
A litre of petrol costs Rs 67.65 in Chandigarh and diesel is priced at Rs 57.74. In Vizag, petrol costs Rs 72.68 a litre and diesel Rs 62.81. In Puducherry, petrol is priced at Rs 66.02 per litre and diesel Rs 58.68 a litre.
IOC said customers may verify fuel prices by downloading the company app or visiting its website.
While petrol price was freed from the control of the government in June 2010, diesel rates were deregulated in October 2014.
Technically, oil companies have freedom to revise rates but often they have been guided by political considerations.
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