Check the fuel prices, everyday!

Every time the central govenrment announces a change in fuel prices, there is a big rush at the petrol pumps across Goa, in the hope that this will help save costs.

| APRIL 14, 2017, 04:50 AM IST
But it is the frequency of such changes in pricing that can annoy Goans, as this always affects their pre planned budgets.  All this is set to change. 
 Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp plan to implement daily revision of fuel price in five cities from  May 1  which will be followed up with a nation wide roll out. Currently, oil marketing companies decide on change in fuel prices on a fortnightly basis.  The revision in oil prices will not affect consumers much as international oil prices do not fluctuate widely on a daily basis. So, change in prices of petrol and diesel will not badly affect the commuters in the long run.
 Even though the fuel prices in Goa are lower comporated to that of other states in India, the absence of a strong public transport system means there is a greater dependency on using privately owned vehicles. And given that ‘mileage’ is one of the major factors Goans take into consideration when they buy a vehicle, the fluctuating fuel prices not only affect their day to day plans but even their long terms plans.  
The proposed revision in oil prices will not affect consumers much as international oil prices do not fluctuate widely on a daily basis. So, change in prices of petrol and diesel will not badly affect the commuters in the long run. Against that backdrop,  the fact that this decision will lead to stability in petrol prices with fuel expected to increase or decress by a rupee or less, this can benefit the consumers as they wont have to deal with shock increases, sometimes, as high as Rs 3-4, every few weeks.  This proposal has triggered a debate among Goans where the common consensus is that the reactions of consumers in these five cities need to be monitored, before its rolled out in Goa. Furthermore, there is another proposal wherein petrol pumps could be shut on Sundays and this could affect the public as well – a decision that may not sit well with Goans.
As per this proposal that has evoked mixed reactions, a section of petroleum dealers said they would shut their retail outlets every Sunday starting May 14.  The Consortium of India Petroleum Dealers (CIPD)has reportedly taken the decision keeping in line with Prime Minister Narendra Modi’s vision to reduce fuel consumption, but industry experts, see this as a tactic to pressure government for higher commission. Meanwhile, Ajay Bansal, president of All India Petroleum Dealers’ Association, clarified that this was not going to have a countrywide impact as the CIPD had presence in just a few states. The government has not taken a decision on the petrol pump owners demand, for higher dealer commission.The government needs to sort out this matter and provide clarity to the public, who feel this will put them at a great inconvenience, especially on weekends. 
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