15 Jun 2017

After petrol, diesel, CNG rates may change on daily basis as government mulls dynamic pricing for fuel: Report

After petrol and diesel its now time for CNG rates to change on a daily basis.

After petrol and diesel its now time for CNG rates to change on a daily basis. According to TV report, the government is mulling dynamic pricing for CNG as well. The prices of petrol and diesel are set to change on a daily basis across the entire country from 16 June. CNG is touted as a clean fuel and this is likely to boost the segment. On Wednesday, the simmering differences between the oil marketing companies (OMCs) and retail fuel outlet dealers came to an end with the intervention of petroleum minister Dharmendra Pradhan after which the proposed strike by the petrol pump owners was called off. After meeting with the two parties, Pradhan told media that the dealer associations have assured cooperation in the roll-out of the daily price revision of diesel and petrol prices starting June 16 pan-India as planned earlier. He further said that the oil marketing companies will put in all efforts to make all fuel outlets automated at the earliest.

The Association had earlier decided to support ‘No Purchase No Sale’ call by Federation of All India Petroleum Traders. Last week, the oil marketing companies (OMCs) announced a daily revision of fuel prices starting June 16. It said that the price revision will reflect changes in international oil prices.
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While talking about the price revision move, dealers stated that there will be downtime of around one hour every night at these petrol pumps as every nozzle point will have to be reset manually. The automated fuel outlets will also need to take a stock of fuel sold and left in the tank before resuming sales on a daily basis.
The last time when CNG prices were hiked was in the month of May this year. A day after the oil companies cut petrol prices by Rs 2.16/litre and diesel prices by Rs 2.10/litre as crude rates fell, CNG prices in Delhi were hiked by 35 paise per kg, and those of piped cooking gas by 81 paise.
Source - Financial Express

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