The state owned oil groups may select to modify the petrol prices each fortnight to mirror amendments in the global oil market in the free pricing establishment that gears up from the next week.

Petrol prices were made untied from the government jurisdiction in the previous month ensuing in an Rs 3.50 per liter inclination in the rates prevailing in Delhi, but   the modalities of consecutive retail price modification were missing in the industry to mull over and decide.

As per the sources the Indian Oil, Bharat Petroleum and Hindustan Petroleum shall began the discussion by today on modalities such as the rate of recurrence or break at which prices shall be revived and if the PSUs might have the consistent rate that shall amend on the same date.

Moreover the privately owned firms such as Reliance Industries, Essar Oil and Royal Dutch/Shell too are in the tier of getting consulted in the fit.

Further the sources commented that most of the retailers are in favor of the fortnight revisions in the retail rates to mirror changes in cost of raw material, however the nation's biggest oil firm IOC was at disagreement, expressing that the rates should not be revised too often.