Fuel prices set to change daily

Petrol and diesel prices will be revised daily in five cities: Chandigarh, Udaipur, Visakhapatnam, Puducherry and Jamshedpur, from May 1 as a pilot run before a countrywide roll out. While daily revisions are expected to take the sting out of price hikes as they would be in small doses, the move has the potential to set off a price war that would give public sector retailers a chance to match private firms who have been exploiting a free market in times of low oil prices.Till the system is in place countrywide, public sector retailers will continue tweaking prices on the 15th and last day of each month in all other places.

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