Daily revision of fuel prices in Chandigarh

Story By: Rajesh Sharma
Monday, May, 01 2017 - 19:16

Chandigarh, along with four other cities -  Puducherry, Visakhapatnam, Udaipur, Jamshedpur - will get a new fuel price every day starting May 1.

The five cities have been chosen as part of a pilot project of Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL)  which will see petrol and diesel being sold with a daily price change.

 “Oil companies have already installed hardware and software needed for daily updates at our outlets. It will be an automated technology connected to VSAT. If it fails, we will display the prices manually,” president of Chandigarh Petroleum Dealers Association told reporters.

The revised prices will be conveyed by oil companies to the dealers by 8 pm and will be revised from midnight. The prices will be displayed at pumps. 

The base prices of petrol and diesel will continue to be the global benchmarks. Marketing margins, dealer commission, tax and other levies will be added to the base price.

Till now, diesel and petrol prices were changed on the 1st and 16th of every month depending on the preceding fortnight average.



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