Petrol diesel prices were changed every fortnight for past several years, now by considering the volatility in the crude oil prices globally, government has decided to change the fuel prices on a day to day basis. Normally petrol, diesel and fuel prices are getting changed / revised at midnight 12.00 Am, hence petrol bunk / fuel station operators are changing the fuel rates at midnight.
Effective from 16-Jun-17, Petrol diesel price change is a day to day phenomenon, but fuel station / petrol bunk owners are not happy about the timing of the price change. They felt uncomfortable in receiving the correct information from oil companies at midnight and update the fuel pumps accordingly. Hence fuel bunk owners/ Service station owners requested government to revise the timings to morning 6.00 AM instead midnight 12.00 Hours, which was accepted by the petroleum minister after the detailed discussion.
How to know the correct Petrol diesel Price ?
- Oil companies fix the rates for the next day
- The rates will be published by oil companies and SMS message will be sent to each fuel station
- Also, One can send message to oil companies to seek the correct price for the particular day.
- The price will be communicated separately for each station based on the local tax and duties.
- The Price change will be automatically or by manual by the fuel pump / station owner at 6.00 AM in the morning
What are the advantages of daily petrol diesel price change
Consumer point of view, there are no significant advantage, but it helps oil companies to improve their margin based on the daily global crude oil prices. It is believed that, daily price change will bring the system more discipline and well organized. Most of the western countries are already practicing the daily price change of gasoline / diesel / natural gas.