From May 1st there will be introducing daily price revision of petrol and diesel in five cities
This has come after the petrol pumps had threatened to shut shopped on Sunday and the government has expressed expressed its displeasure about this move citing inconvenience to consumers.
As such moves effects the general public and the government had taken this decision to remove the inconvenience for the public.
This happened after Narendra Modi had asked for not using the fuel for one day to converse fuel and not for petrol pump owners to remain shut
This move shall be beneficial for customer has it would not change the prices at the daily basis
The current practice means that the prices get hiked overnight by more than a rupee or two reflecting volatility in global crude prices, thereby pinching customers pockets.
For instance, oil firms on 1 September, 2016, hiked petrol rate by ₹ 3.40 a litre and diesel prices by ₹ 2.70 a litre at one go, putting pressure on vehicle users.
It shall be implemented soon after the required decisions, steps and measures have been taken.
What is the Ministry of Petroleum and Natural Gas?
It is the ministry under the government of India
It has responsibility for the exploration, production, refining, distribution, marketing, import, export, and conversation of petroleum, natural gas, petroleum products and liquefied natural gas in India
The head of the ministry being the Cabinet Minster Dharmendra Pradhan
An IAS officer, Saurbh Chandra is the secretary of the ministry