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Petrol, Diesel prices likely to decline by Rs 1.30 per litre today

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New Delhi: From June 16, petrol and diesel prices will be revised every morning. The prices till now were being revised fortnightly at midnight.

Briefing reporters after a meeting with pump dealers association, Minister of State (Independent Charge) for Petroleum & Natural Gas, Dharmendra Pradhan said, “There were some concerns of dealer associations with regard to the daily pricing mechanism. It was decided that the price of petrol and diesel will be revised from 6 a.m. every day.”

Petrol pump dealers, who had called for a ‘No purchase, no sale’ stir on June 16 to protest against the decision of public sector oil marketing companies to implement a daily revision of prices, have now called off their stir.

The dealers allege that there are only 10,000 out of 56,000 retail outlets where prices can be changed automatically. For the remaining outlets, the price change had to be implemented manually at midnight, every night.

The decision to roll out a nationwide dynamic pricing regime was taken after a successful pilot project in five cities — Puducherry, Visakhapatnam, Chandigarh, Jamshedpur and Udaipur.

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