Petrol And Diesel Prices Can Change Daily
Indian Oil Corp., Hindustan Petroleum and Bharat Petroleum, being the 95% controllers of country’s fuel industry are planning to create an atmosphere where the fuel prices can be reviewed daily. The major agenda behind it is to replace the current practice of fortnightly revision. It can be done by aligning the daily prices with international prices of fuel.
“Daily price revision is about introducing international standards in the Indian fuel retail market. It helps both customers as well as dealers in managing their purchase,” said the executive. The companies have met the Oil Minister Dharmendra Pradhan and other officials to talk about the same. “The idea of daily fuel pricing has been there for some time. But now we have the technology to implement it. So we will do it,” said an official.
Since, the companies have got the automation feature by the digital technologies to inform the price changes to 53,000 filling stations across the country; it has given them plus point in favor of their plan.
According to the ET report, daily fuel changing will not make the prices drop or rise sharply like it used to happen in the country before. The prices will just change by few paisa everyday giving customers no objectionable point. This is also good for the political impart over the fuel companies as now they can work as per their ways in alignment to the international prices rather than the orders of the ruling party.
Changing the current situation of fortnight basis of fuel price determination, the companies are planning for some better ways to maintain the economical conditions of the country.
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