LIVE TV DownloadNews18 App
News18 English
»
1-min read

Public Sector Oil Companies Plan May Review Retail Fuel Prices Everyday

Public sector oil companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum may review fuel prices daily rather than fortnightly, as is the current practice, in order to align them better with international prices.

Tushar Dhara | News18.com

Updated:April 7, 2017, 3:39 PM IST
facebookTwittergoogleskypewhatsapp
Public Sector Oil Companies Plan May Review Retail Fuel Prices Everyday
A worker walks atop a tanker wagon to check the freight level at an oil terminal (REUTERS)
Loading...

New Delhi: Public sector oil companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum may review fuel prices daily rather than fortnightly, as is the current practice, in order to align them better with international prices.

The Economic Times reported that the three companies are considering ways to review petrol and diesel prices daily, top executives at the firms told the paper on condition of anonymity.

The Economic Times further said that the executives met oil minister Dharmendra Pradhan earlier this week to discuss the idea of daily pricing.

Reuters reported that the move would free private players like Essar Oil and Reliance Industries, which currently follow the price set by state-owned companies, to also shift to a dynamic model.

A daily price change - called dynamic fuel pricing - means that companies will not wait for a fortnight to adjust the price of petrol and diesel in tandem with crude price, but will be able to change the price daily based on global crude prices.

| Edited by: Puja Menon
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Bank 2,276.15 -0.99
Reliance 1,341.75 -2.45
Maruti Suzuki 6,552.70 -1.81
Yes Bank 252.60 0.18
Axis Bank 757.05 0.17
Company Price Change %Gain
UPL 934.95 0.02
Axis Bank 757.35 0.24
Cipla 526.85 -1.17
Motherson Sumi 146.05 -7.06
SpiceJet 98.10 7.04
Top Gainers
Company Price Change %Gain
NTPC 134.65 4.18
Larsen 1,394.70 1.74
JSW Steel 285.75 1.22
Asian Paints 1,471.25 1.04
Hindalco 209.10 0.94
Company Price Change %Gain
NTPC 134.05 3.67
Larsen 1,394.00 1.54
Asian Paints 1,470.70 1.08
Tata Steel 518.15 0.90
Power Grid Corp 198.50 0.53
Top Losers
Company Price Change %Gain
Bharti Infratel 316.10 -2.75
Tata Motors 175.40 -2.66
BPCL 378.95 -2.62
HPCL 268.35 -2.45
Reliance 1,341.75 -2.45
Company Price Change %Gain
Tata Motors 175.40 -2.47
Reliance 1,342.10 -2.44
Maruti Suzuki 6,558.00 -1.84
SBI 298.10 -1.76
Bajaj Finance 2,836.85 -1.23

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results