New Delhi: After the decision by three state-owned oil marketing companies including Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, the petrol price in India is changed daily.
On Sunday, the price of petrol was increased by 3 paise a litre and diesel was increased by 4 paise per litre. The changes in the cost were relevant from 6:00 a.m. in the morning.
Under the dynamic pricing scheme, petrol and diesel prices are revised on a daily basis in sync with global crude oil prices.
The decision of alteration in petrol prices announced was taken by Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. It was executed in India from June 16 in year 2017.
The three state-owned oil marketing company’s decision announced that the cost of petrol and diesel will be altered every morning at 6 am.
After the verdict by these companies, now India has connected with the several other countries including US and Australia where petrol prices are altered every day.
On Twitter, Petroleum and Natural Gas Minister Pradhan shared, “Proud to share that India is first country to switch to dynamic fuel pricing on such a large scale in one go.”
Prices of non-branded diesel in metro-cities