Thiruvananthapuram

29°C

Haze

Enter word or phrase

Look for articles in

Last Updated Monday November 20 2017 06:59 PM IST

Oil companies to revise fuel price in five cities daily from May 1

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

Petrol, diesel prices A driver waits in a taxi for his turn to fill up his tank with diesel at a fuel station in Kolkata June 14, 2012.Credit: Reuters/Rupak De Chowdhuri/Files

New Delhi: India's state-owned fuel retailers plan to implement daily revision of fuel price in five cities from May 1 ahead of a nationwide roll out of the scheme, industry sources said.

To begin with, daily revision of fuel prices will be implemented in Puducherry, Vizag, Udaipur, Jamshedpur and Chandigarh, they said.

State refiners currently revise fuel prices every fortnight to reflect volatility in the currency and global oil markets.

State refiners - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp - operate 90 percent of the retail outlets in the country.

The three have up to 200 fuel stations in the five cities, the sources said.

The roll out of "daily dynamic pricing" in five cities will help them identify the problems ahead of a nationwide roll out of the scheme later this year, the sources, who did not wish to be identified because of the sensitivity of the matter, said.

No immediate comment was available from the state refiners.

Indian private fuel retailers - Reliance Industries and Essar Oil - are expected to follow their state peers, the sources added.

Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.

Email ID:

User Name:

User Name:

News Letter News Alert
News Letter News Alert