Federation of All India Petroleum Traders call off June 16 strike: FAIPT

Now Petrol, diesel price to be revised at 6 am every day from June 16
New Delhi, June 14, 2017: Federation of All India Petroleum Traders (FAIPT) called off their nationwide 'No purchase, No sale' slated for June 16.
Briefing reporters after a meeting with pump dealers association, Minister of State (Independent charge) Petroleum and Natural Gas, Dharmendra Pradhan said, “There were some concerns of dealer associations with regards to the daily pricing mechanism. It was decided that the price of petrol and diesel will be revised from 6 am every morning.”
FAIPT National Secretary and Spokesperson Sukhminderpal Singh Grewal said, “We are in favour of the initiatives to increase penetration of automated outlets and support the move to implement a daily pricing of fuel.” It's deviation from the existing regime where petrol and diesel prices are revised at midnight. Dealers were irked by the directive of public sector oil marketing companies to implement a daily fuel price revision of petrol and diesel. The decision to roll out a nationwide dynamic pricing regime was taken after a successful pilot project of the same in five cities of Puducherry, Visakhapatnam, Chandigarh, Jamshedpur and Udaipur.