Daily pan-India fuel pricing from Friday

New Delhi: The hurdles have been cleared for India to switch over from Friday to the daily pricing mode for transport fuels in line with global rates as petroleum dealers have withdrawn their call for closure of vends on June 16. The government agreed to their demand that the price announcement would be daily made at 6am instead of midnight.
Petroleum Minister Dharmendra Pradhan told reporters here on Wednesday that the dealers were agreeable to the new timing and the countrywide daily revision of petrol and diesel prices from June 16 as decided.
At present, the state-run oil marketing companies (OMCs) review and revise retail fuel prices every fortnight on the basis of global crude oil prices, while the revision takes effect from midnight. Dealers had represented for a change in timing as under the new regime they would have to deploy manpower everyday to change rates at mid-night.
“There were some practical difficulties which we have addressed in our meeting with leadership of all the three petroleum dealers association today (Wednesday). Daily prices will change from 6 am,” Pradhan said.
Federation of All India Petroleum Traders (FAIPT) President Ashok Badhwar said they were withdrawing their call for the protest closure of vends on Friday because the government had taken the decision of daily price revision in public interest. “And in public interest, we are also withdrawing ‘No Sale No Purchase’ agitation planned for June 16,” he said.
Daily revision of retail selling prices has already been implemented on a pilot basis in Udaipur, Jamshedpur, Visakhapatnam, Chandigarh and Puducherry from May 1. (IANS)