(FE)
It’s finally here. Beginning today the retail prices of petrol and diesel will be revised everyday across the country. This is a departure from the existing practice of review in the prices of petrol and diesel every fortnight, and is a leap further towards true deregulation.
The beginning of the new pricing regime was marked by the oil companies announcing a substantial cut of Rs 1.12 per litre in the price of petrol, and Rs 1.24 excluding state levies effective today. With daily revision however, chances of major changes in the prices are very low, and the rise or cut would mostly be in few paise, of course depending on the movement in the crude oil prices. Albeit, to add to the confusion for consumers, the prices may vary from town-to-town, though again, by just a few paise.
