Indian Oil Corporation on Thursday that the prices of petrol and diesel will be revised on a daily basis from June 16th all over the country. In a statement, it said, that all public sector oil companies, including IOC, Hindustan Petroleum Corporation and Bharat Petroleum, will implement the decision.
However, it is yet to be seen how people at large are going to react to this new policy implementation. Initial social media reactions show that while some section of the people is criticising the decision, some are calling it a welcome move. Here are a few of the tweets:
You would get upset about change in #Petrol price as you remembered the change. Now #Petrol prices to change everyday so you lose the count.
— Gaurav Pandhi (@GauravPandhi) June 8, 2017
#Petrol price will be revised evryday, this shud have been done earlier, good move in public interest
— Kamlesh v jain (@mumbaihigh) June 8, 2017
Petrol,diesel prices will be fixed daily from June 16. Price will change everyday in sync with international rates
— manjush Gopal (@manjushgopal) June 8, 2017
it’s not the #Petrol price which is actually somewhere in 20s that is a problem.
it’s the damn govt greed via taxes which makes it 78+.
?— abandraite (@abandraite) June 8, 2017
Is this the ultimate fuel saver (a.k.a. get over the price of petrol) – https://t.co/vO7hj6BDOc pic.twitter.com/EJJwKh9jzS
— John Cadogan (@cadoges) June 8, 2017
Now #Petrol price to change daily from June 16 . Petrol price is behaving like your girlfriends mood Unpredictable eachday 😛
— Belieber since 2009 (@RajMore69) June 8, 2017
#Petrol govt should launch a site where people can check daily price so no one cheats public.
— vinesh (@vineshtank) June 8, 2017
— vinesh (@vineshtank) June 8, 2017
Currently, in India, the prices of petrol and diesel are usually revised fortnight. The fuel retailers revise rates on 1st and 16th of every month based on an average international price of the fuel in the preceding fortnight and currency exchange rate. However, from June 16th the pump rates will now show the daily movement in international oil prices and rupee-US dollar fluctuations.
