Petrol, diesel rates to be revised daily from June 16

  • Petrol, diesel rates to be revised daily from June 16
09-06-2017 | Pratidin Bureau. |

State-run fuel retailers will revise petrol and diesel prices daily from June 16. The prices are expected to change every day at midnight, following directives by the Petroleum Ministry.
 
Government officials said the decision was taken after the success of a pilot project since May in five cities.
 
Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp had started a pilot project in five cities —Udaipur, Jamshedpur, Puducherry, Chandigarh and Visakhapatnam — starting May 1, 2017 wherein prices of these fuels changed daily according to the international crude prices.
 
Indian Oil said daily revision in oil prices will make retail prices more reflective of the current market conditions, besides leading to increased transparency in the system.
 
The last revision in fuel prices was on May 31, when petrol was hiked by Rs 1.23 and diesel by 89 paise.

Tags : Petrol diesel price


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