Petrol and Diesel prices will change every day in sync with international rates in five select cities from 1st May. A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh.
Indian Oil Corp-IOC chairman B Ashok told a news agency that state-owned fuel retailers IOC, BPCL and HPCL will launch it on pilot basis and gradually extend it to all over the country.
State fuel retailers currently revise rates on 1st and 16th of every month based on average international price of the fuel in the preceding fortnight and currency exchange rate.
