Petroleum Minister Dharmendra Pradhan on Saturday, 17th June 2017 said that daily revision of petrol and diesel prices will save people from ‘suffering’ of the sudden price change, ANI reported. “Petrol and diesel are important commodities and if its prices change everyday people will not have to suffer due to the sudden price change,” Pradhan said.
Petroleum Minister’s comment comes a day after the government implemented the revision of petrol and diesel prices on a daily basis. The new exercise is a departure from the existing practice of review in the prices of petrol and diesel every fortnight.
Oil companies marked the beginning of new pricing regime a cut of Rs 1.12 per litre cut in petrol prices.
However, chances of major changes in the prices are very low as the new norms mandate the change every day at 6 am. It is expected that the rise or cut would mostly be in few paise, of course depending on the movement in the crude oil prices. Also, the prices may vary from district-to-district.