CHENNAI:
Diesel price in Chennai
on Friday is at Rs 71.12 a litre.
Earlier, diesel prices in India were reviewed and changed every fortnight before the Union government decided to deregulate the prices.
The government decided to go for daily revision of fuel prices with effect from June 16, 2017. The fuel price revision by oil companies like Indian Oil, HPCL and
BPCL
came as good news for consumers.
The daily revision has taken the sting out of price hikes as they would be in small doses — sometimes could even go unnoticed.
Dynamic pricing of diesel can be gauged from updates given by the oil companies through SMS alerts and mobile app notifications. The prices of Diesel and diesel are further slated to come down, with the government deciding to withdraw state specific surcharges on fuel.
Politically, a daily revision will help the government sidestep the political fallout of consumer ire.
Diesel price was freed from government control in June 2010. The Government of India used to give a considerable amount of subsidy of the diesel price.
But, now the government has given up the control over the fuel price and lets the market decide its fate. Now, instead of using fortnightly average, pump rates will reflect daily movement in international oil prices and rupee-US dollar fluctuations.
With the daily price change, the consumer will be more aligned to market dynamics.
Daily revision of diesel prices has set new standards of transparency, encourages automation drive of Petrol pumps and better stock management practices. It is a win-win situation for consumers, industry as well as dealers.
Today: On Friday 29th of June, the Diesel Price in Chennai was Rs. 71.22 per litre.
On Thursday 28th of June, the Diesel Price in Chennai was Rs. 71.22 per litre.
On Wednesday 27th of June, the Diesel Price in Chennai was Rs. 71.22 per litre.
On Tuesday 26th of June, the Diesel Price in Chennai was Rs. 71.22 per litre.
On Monday 25th of June, the Diesel Price in Chennai was Rs. 71.22 per litre.
Previous Week
On Sunday 24th of June, the Diesel Price in Chennai was Rs. 71.29 per litre.
On Saturday 23th of June, the Diesel Price in Chennai was Rs. 71.36 per litre.
On Friday 22th of June, the Diesel Price in Chennai was Rs. 71.44 per litre.
On Thursday 21th of June, the Diesel Price in Chennai was Rs. 71.44 per litre.
On Wednesday 20th of June, the Diesel Price in Chennai was Rs. 71.54 per litre.
On Tuesday, 19th of June, the Diesel Price in Chennai was Rs. 71.54 per litre.
On Monday, 18th of June, the Diesel Price in Chennai was Rs. 71.62 per litre.
(Graph can come at the bottom).
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