Bhubaneswar, Apr 13: The state owned oil companies have planned for the revision of fuel price in five cities from May 1. Known as the Daily Dynamic pricing scheme, it will be implemented in many cities like in Puducherry, Vizag, Udaipur, Jamshedpur and Chandigarh. The state refiners Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation will revise their fuel price every fortnight in order to reflect the volatility in the currency and global oil markets. B Ashok, Chairman, IOCL said that the first phase will help to identify the problems before the nationwide roll out later in this year.
