Are OMCs shifting to alternate day fuel price revision mechanism?

Oil marketing companies seem to be moving towards a revised fuel price revision mechanism, shifting to the practice of changing petrol and fuel rates every alternate day rather than undertaking changes on a daily basis.

In the last few days, pump prices of petrol and diesel have been revised every alternate day but the practice had not helped consumers as even under this system prices have only moved up making the fuel dearer.

On Monday, OMCs kept retail price of petrol and diesel unchanged. So petrol still costs Rs 92.58 per litre and diesel Rs 83.22 per litre in Delhi, the same as previous day.

Across the country as well, the petrol and diesel price prices remained static on Monday but its actual retail prices varied depending on the level of local levies in respective states.

The price pause on Monday came after petrol and diesel prices were raised by 24 and 27 paise per litre, respectively, on Sunday. Prior to Sunday, there was no price revision on Saturday. Similarly, while fuel prices were raised on Friday, it remained unchanged in the previous day.

“It seems oil companies are giving a sense of relief to consumers as fuel prices are not being raised on a daily basis.