Friday, 7 April 2017

Indian state-run companies mull daily fuel price change - report

MUMBAI - India's state-run oil marketing companies, which control over 90 percent of the retail fuel market in the country, are mulling a plan that would allow daily changes in the price of automotive fuels, Economic Times reported on Friday.

State-owned and India's biggest oil marketing company Indian Oil Corp Ltd and its two smaller peers Bharat Petroleum and Hindustan Petroleum are considering ways to roll out the plan to review petrol and diesel prices daily, executives from the firms told the daily. The state-run companies declined to immediately comment.

The daily price change - also called dynamic fuel pricing - essentially means the companies will not wait for a fortnight to adjust the price of petrol and diesel in tandem with crude price as they do now. Instead, they will change the price everyday based on crude price movements. This will help India move to an international standard of fuel pricing.

Maximise your experience more in Stocks which means you a lot if you are a Financial Trader click here and subscribe us Free for two days click here to get >> http://www.ripplesadvisory.com/nifty-future-.php

Riyanshi

About Riyanshi

Author Description here..

Subscribe to this Blog via Email :

Note: only a member of this blog may post a comment.