(TH)
Petrol and diesel prices will be revised every day across the country from June 16, according to an official statement from public sector oil marketing companies.The decision to extend the daily fuel price revision to the country was taken after a review meeting of the pilot project in five cities by the Ministry of Petroleum and Natural Gas on Wednesday.
But a nationwide roll-out of daily revision of petrol and diesel prices at the June 16 deadline has been opposed by the petrol pump retailers.“This is not a good thing for retailers. The pilot project had faced numerous problems that were raised by the dealers to the oil marketing companies. The prices had to be changed manually in 95 per cent of the retail outlets every night,” Ajay Bansal, President, All India Petrol Dealers Association, said.
With nearly 20 per cent of 54,000 retail outlets yet to be automated, Bansal said that he will request the government to not rush into dynamic pricing. “The government has not held consultations with retailers before announcing this decision,” he added. The pilot project was initiated in Puducherry, Visakhapatnam, Udaipur, Jamshedpur and Chandigarh from May 1. Under the daily revision exercise, the moving average of product price for the preceding 15 days with a lag of two days is taken into consideration for deciding the retail price.
