EFFECTIVE IMPLEMENTATION OF DAILY PRICE CHANGE OF PETROL & DIESEL ASSURES IOL

Daily price change of petrol and diesel across the country by public sector oil companies, viz.,IndianOil, BPC &HPC, will commence from June 16, 2017 onwards, following the success of a pilot implementation in five cities. The seamless execution of the 40–day pilot project at five cities, viz., Chandigarh, Jamshedpur, Puducherry, Udaipur, and Vishakhapatnam, has reassured all the stakeholders on the efficacy of its implementation. 

Apart from reducing volatility, this move will ensure that there is no sudden increase or decrease in domestic selling prices. The benefit of even the smallest changein international oil prices can be passed down the line to the dealers and the end–users. The daily price revision is an initiative for ensuring the best possible prices to the customers as well as improved transparency in the pricing mechanism.