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 As the central government assured about contentious merchant discount rates, Petrol pumps across the country declared that they will accept debit and credit cards for now. The centre stated that merchant discount rate won’t be applied till 13th January. Petrol pumps across the nation have been declared to defer their protest against the banks decision to impose an extra charge on credit and debit card transactions. The late evening turnaround came after the government stepped in. 
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People using debit and credit cards for payments at petrol pumps may encounter difficulty from Monday onwards as petrol pumps across the country has been decided not to accept payments through cards. The decision comes in wake of the move by banks to levy 1% charge on every sale.  Ajay Bansal (Petroleum Dealers Association president) in an statement declared today that in view of the debit of Merchant Discount Rate of 1% petrol pumps have decided to stop accepting payment through debit and credit cards from 9th January 2017. Axis, HDFC and ICICI Banks have gave their notification stating that they will be impose 1% charge at petrol pumps. There will be recovery on every transaction including the one percent. Our margin cannot bear this, said by Bansal. Ajay added point-of-sale (POS) terminal belonging to the banks that have introduced this scheme will not be in operational. 

Today petrol pumps using HDFC POS Terminals stated that they will not be accepting any payments through debit and credit cards after HDFC decided to impose 1% charge for every sale. 
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As expected there was hike in Petrol and diesel price as Petrol hiked by INR 1.34 Per litre and diesel rate hiked by INR 2.37 Per litre. The Revised rates will apply from midnight. After the price revision petrol in Delhi will now costs INR 66.45 Per litre and diesel will cost INR 55.38 Per litre. The Present level of international product prices of petrol, diesel and INR-USD exchange rate warrant increases in selling price of petrol and diesel, the impact was being passed on to the consumers, Indian Oil Corp (IOC) said in a statement. The Petrol and diesel prices are deregulated in India, which means they are directly linked to market rates. Prices were revised last on October 4th. The prices were increased following increase in commission paid to dealers.
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Petrol prices was cut by 89 paise per litre and diesel by 49 paise per litre on Thursday its the first decrease in rates in two months. Petrol will cost ₹ 64.76 per litre in Delhi from Thursday midnight, Indian Oil Corp declared diesel will cost ₹ 54.70 per litre. This is the first reduction in rates in two months. The present level of international product prices of diesel, petrol and Rupee-US Dollar exchange rate warrant decreased in selling price of petrol and diesel the impact of which is being passed on-to the consumers with this price revision. 
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 Again Petrol price was raised on Wednesday by ₹5 paise per litre and diesel by ₹1.26, with immediate effect from midnight. In Delhi Petrol costs ₹65.65 per litre it was hiked  to ₹65.60 per litre presently, its announced by Indian Oil Corp. And the diesel will cost ₹55.19 per litre as against ₹53.93 a litre currently. This is fourth time of increase in auto fuel prices from May 1st.   Petrol rates in four hikes have been raised by ₹4.52 per litre, while diesel rates have gone up by ₹7.72 per litre. The present level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant. After discounting the April 16 reduction petrol prices have raised by ₹9.04 per litre since mid-March and diesel by ₹11.05 per litre. The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,Indian Oil Corp said in an statement.
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