However, the timing of price revision will occur at 6 AM everyday instead of midnight. Presently, the price revision comes into effect from midnight.
The new move came after the meeting between Mr Pradhan and the Petroleum Dealers’ Association, which has called off the proposed strike against the present timing on daily revision of petrol and diesel prices.
Mr Pradhan said, the daily price revision follows successful pilot project in five cities and would lead to even the smallest change in international oil prices being passed on to consumers.