Petroleum minister Dharmendra Pradhan says no need to change daily revision in fuel prices regime | First Post

New Delhi: Petroleum minister Dharmendra Pradhan on Monday said the dynamic pricing regime, whereby prices of transport fuels are revised daily, would continue despite petrol prices going up by over Rs 6 per litre since the scheme was introduced pan-India from mid-June.

Speaking to reporters after taking over additional charge of the Skill Development and Entrepreneurship ministry following his elevation to Cabinet rank on Sunday, Pradhan said dynamic pricing ensures that the benefit of even the smallest change in international oil prices can be passed down the line to the dealers and the end-users.

“Daily revision in prices is good. When we started daily revisions on 16 June, rates dropped in the first fortnight. Thereafter, it has increased mainly because of rise in global oil prices,” he said.

“It is in the interest of consumers. I don’t think that there is a need for change in it,” he said.

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Petroleum minister Dharmendra Pradhan says no need to change daily revision in fuel prices regime.