Page 53 - Fuel Prices

Private petro firms will also revise fuel prices daily from Friday

Taking a cue from state-run oil marketing companies (OMCs), private sector fuel retailers Reliance Industries, Essar Oil and Shell India are likely to revise motor fuel prices on a daily basis from Friday."Our outlets are already automated and can go live with dynamic pricing any day. As soon as other players shift to a daily pricing regime, we will also," said a senior official from a private sector major, on condition anonymity.As of April 1, by official data, India had 59,595 fuel retail outlets. Of these, close to 54,000 were owned by state-run Indian Oil Corporation (IOC), Hindustan Petroleum Corporation and Bharat Petroleum Corporation. The others are owned by private players."It is a good decision by the government. There might be some teething issues in the beginning but will benefit all stakeholders in the long run," said Lalit Gupta , managing director, Essar Oil. Dealer associations, however, have called for 'no purchase' from Friday. Ajay Bansal, president, All India ...

Oil firms set up system for smooth daily fuel price change

Petrol and diesel prices will be revised daily from June 16 onwards by three OMCs

Daily change in petrol, diesel prices soon; 5-city trial to begin from May

After the initial trial, the impact of the new system will be judged before a national launch

Govt must allow oil companies freedom to fix retail prices independently

This way oil retail sector will be subjected to more competition

New fuel price every midnight in 5 cities from May 1

These cities are Puducherry, Visakhapatnam, Udaipur, Jamshedpur and Chandigarh

Retail fuel prices likely to remain high

Govt unlikely to cut excise duties to compensate for higher global prices, say analysts