From June 16, there will be a daily change in the petrol and diesel prices. As soon as the price change for the day is declared, it will be immediately available to customers.
A section of petrol pump dealers have reportedly threatened to go on strike over concerns related to automation and inventory.
Nearly 20,000 outlets in Tamil Nadu, Kerala, Karnataka, Puducherry, Andhra Pradesh, Telangana, Maharashtra and Haryana would be shut for 24 hours on Sundays.
To begin with, daily revision of fuel prices will be implemented in Puducherry and Vizag in southern India, Udaipur in the West, Jamshedpur in the East and Chandigarh in the North, they said.
The state-run oil marketing companies are also fully equipped to provide the BSIV-compliant at their 53,500 retail pumps across the country, according to a report in The Financial Express.
This increase excludes local levies. The actual hike after considering VAT would be Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel.
Petrol price was today cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre, reversing the rising trend of the past few weeks.
Petrol price today was raised by 89 paise per litre, the sixth increase in rates since September, and diesel by 86 paise a litre, the third increase in a month.
Petrol price was today hiked by Rs 1.34 a litre, the fifth increase in two months, and diesel by Rs 2.37 a litre on back of spike in global rates.
Petrol will cost Rs 64.76 a litre in Delhi from midnight tonight as compared to Rs 65.65 per litre currently, Indian Oil Corp, the nation's largest fuel retailer, announced.
Petrol price was marginally hiked by 5 paise a litre and diesel by Rs 1.26 a litre on June 15, the fourth increase in rates in six weeks
Kerosene sold to non-ration card segment outside the subsidised public distribution system (PDS) will cost Rs 49,109.05 per kilolitre (kl) or Rs 49.1 a litre in Delhi as against Rs 46,172.13 per kl previously.
IOC on Monday hiked petrol price by Rs 2.19 a litre and diesel by Rs 0.98/litre. Petrol price was last hiked by Rs 3.07 a litre and diesel by Rs 1.90 per litre on March 16.
2015 is a year the Indian auto industry will not forget in a hurry.
Petrol price will be cut by Rs 2 per litre and diesel by 50 paise per litre with effect from midnight tonight.
A recovering rupee has given the government some legroom to consider its earlier intention of hiking diesel price Rs 5 per litre.
"No need for government interference for fixing the prices because we really don't know one month later what will be government's ability to raise prices even by 50 paise and that uncertainty should be removed," said Kirit Parikh, Chairman, Integrated Research and Action for Development (IRADe).
Petrol price was today hiked by a steep Rs 1.55 a litre, the fourth increase in rates in six weeks, as falling rupee made oil imports costlier.
Shares of IOC, BPCL and HPCL gained between 1-2 percent in early trade Tuesday, after oil retailers raised diesel price for retail selling by 50 paise a litre (excluding value added tax). However, shares erased some early gains on profit booking.
Petrol price was on Saturday hiked by a steep Rs 2 a litre, the second increase in rates this month, as devaluation of rupee against US dollar made imports costlier.
Following sharp depreciation in rupee oil marketing companies hike both petrol and diesel price by 75 paise and 50 paise per litre respectively.
As petrol prices go up, more buyers are opting for diesel cars which run on low costs but also result in more pollution.
After the government allowed fuel retailers to hike diesel price at regular intervals, companies have witnessed a significant cut in under-recoveries.
Petrol price may be reduced by about Re 1 per litre while diesel price may be hiked by 40-50 paisa a litre from March 15-16.
Petrol price may be hiked by about Re 1 a litre and diesel by 50 paise a litre by this weekend as oil firms begin to exercise the recently accorded freedom to adjust rates in step with cost.