Petrol, diesel prices to change daily from today: Know why

State-run oil marketers will roll out a dynamic fuel pricing pilot project from May 1 in five cities where the price of transport fuels would be changed daily so as to better cope with volatility in global crude oil prices.

Petrol and diesel prices are currently revised on a fortnightly basis.

All India Petroleum Dealers' Association President Ajay Bansal announced earlier this month that a decision to have dynamic fuel pricing pilot project had been taken by Petroleum Minister Dharmendra Pradhan following a meeting here with officials of the three oil marketers -- Indian Oil Corp, Bharat Petroleum and Hindustan