India to get a new petrol price everyday from Friday, dealers call off strike

All India Petroleum Traders president has called of a strike  after the government met their demands to announce the petrol price everyday at six in the morning instead of midnight India is all set to get daily revised transport fuel prices from June 16 India has opted for dynamic pricing, which is practised in many developed countries, owing to the recent volatility in global crude oil prices

India is all set to get daily revised transport fuel prices from June 16. This comes after the petroleum dealers agreed to call off the protest where they had asked the government to make the announcement for fuel price change every day at six in the morning instead of 12 pm.

Currently, the oil marketing companies fix the fuel prices every fortnight depending on the global fuel prices.  The dealers had complained that they would have to hire more staff if the announcements were to be made at midnight.

India has opted for dynamic pricing, which is practised in many developed countries, owing to the recent volatility in global crude oil prices.

As per a report by Business Standard Federation of All India Petroleum Traders (FAIPT) President Ashok Badhwar said they were withdrawing their ‘No Sale No Purchase’ on Friday because the government had taken the decision of daily price revision in public interest.