Diesel, petrol prices to change daily from June 16; dealers raise concerns

Since May 1, the dynamic fuel pricing model has been applied on a pilot basis in 5 cities

State-run oil marketing companies (OMCs) have decided to roll out the daily revision of fuel prices nationally from the second fortnight of June. 

However, this has raised concerns about viability and inventory management among dealers. Currently, Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) review retail fuel prices every fortnight while taking global crude oil prices into account. "We are planning to have a national launch of the dynamic pricing system by the second half of this month. However, dates are yet to be finalised," said a top official from an OMC. This development comes