On the back of losses being suffered by traders since the dynamic pricing system came in place from June 16, 2017, petroleum dealers association or AIPDA is making a call for strike on July 12 on a nationwide basis. The dealers threaten to protest with "No Purchase-No Sale" on that particular day.
As per a leading business daily report, the decision by the petroleum dealers association to go on strike was taken after their demands were not fulfilled.
Under the new pricing model, prices of petrol and diesel are being revised on a daily basis instead of the fortnightly basis. There was also a proposal put forth to revise the price of CNG also on a daily basis. The changes in rates on both the fuels i.e petrol and diesel are effected early in the morning at 6 am based on the movement in price on an earlier day.
The change in price effected on a daily basis is in line with any price change in the global oil market. The dynamic fuel pricing model was first implemented on a pilot basis in 5 cities including Chandigarh, Jamshedpur, Puducherry, Udaipur and Vishakapatnam from May 1.