Udaipur is one of the five cities selected in the country for a pilot project wherein petrol and diesel prices will change everyday from May 1 in sync with international rates.

IOC, BPCL and HPCL will launch a pilot in five cities namely Udaipur, Puducherry, Vizag, Jamshedpur and Chandigarh.

“Everyday change in pricing of petroleum products is a recommendation of experts. The government has nothing to do with it.” said Petroleum Minister Dharmendra Pradhan.

Currently the fuel retailers revise their rates on the 1st and 16th of every month on the basis of average international fuel price in the preceding fortnight along with the currency exchange right. Going forward, the pump rates will reflect daily movement in international fuel prices along with Rupee- US dollar fluctuation.

The daily price change will take out the huge jump in rates that take place at end of the fortnight and the consumer price will see greater alignment with market dynamics.

Once the pilot is successful, the state refiners will extend the provision to other parts in the country