Petrol – Diesel Prices Change Every Day From May 1
Petrol and Diesel prices to change every day from May 1st. This will be implemented in 5 cities first as a pilot including Pudhucherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh. Once it is success, this method will be implemented throughout the nation.
Pump rates will reflect daily movement in international oil prices and rupee-US dollar fluctuations.
Petroleum Minister Dharmendra Pradhan said oil companies will implement first at 5 cities and then they will decide what do further according to the success.
Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), which own major petrol pumps in the country will launch pilot in 5 cities for daily price revision from May 1 and it would extend to other cities.
Petrol was last cut by Rs. 3.77 a litre on April 1 and diesel rates by Rs. 2.91 which was raised before.