From Today, Petrol Price cut by Rs 1.12 per litre, Diesel By Rs 1.24

On Friday, India joined the league of select countries like the US and Australia where fuel prices are updated on a daily basis.

The development comes on Friday morning after the three state-owned oil marketing companies (OMCs) like Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation which they rolled-out the daily dynamic pricing mechanism for petrol and diesel.

Pradhan, Minister of Petroleum and Natural Gas, told on the occasion that India has become the first country in the world to utilise dynamic fuel pricing on such a large scale.

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Pradhan tweeted as,

“Proud to share that India is the first country to switch to dynamic fuel pricing on such a large scale in one go,” 

Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation which they rolled-out the daily dynamic pricing mechanism for petrol and diesel.

Petrol and Diesel Prices (Per Litre):

• Delhi – Rs 64.65 and Rs 54.01; Gurugram – Rs 64.68 and Rs 54.32; Noida – Rs 67.83 and Rs 55.68
• Mumbai: Rs 75.88 (Petrol), Rs 59.39 (Diesel)
• Kolkata: Rs 67.37 (Petrol), Rs 56.16 (Diesel)
• Chennai: Rs 67.14 (Petrol), Rs 56.89 (Diesel)
• Bengaluru: Rs 69.04 (Petrol), Rs 57.61 (Diesel)
• Hyderabad: Rs 68.68 (Petrol), Rs 58.77 (Diesel)

The OMC stated as

“After the complete transformation of the LPG sector, dynamic fuel pricing is the first major reform of recent times in fuel retailing sector,”.

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