You may soon have to pay a different price for petrol everyday
Oil companies in India are planning to review fuel rates everyday instead of the current system of every 15 day review.
This is being considered in order to be in align with the international prices, a media report said.
The executives of oil companies like Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum discussed the new revision strategy with Oil Minister Dharmendra Pradhan, as reported by Economic Times.
Quoting the top executives of these companies, the report stated, "The idea of daily fuel pricing has been there for sometime. But now we have the technology to implement it. So we will do it."
With the automation facility at most of the fuel stations, everyday change in prices will not be a "hassle" as the companies can inform the new prices through online platform.
As per the report, the daily change in the prices will be only by few paise.
The last fuel prices were revised on March 31. The price of petrol was cut by Rs 3.77 per litre and Rs 2.91 a litre was cut for diesel.