Oil Firms Gear Up For 3-digit Price Display

Oil Firms Gear Up For 3-digit Price Display

Public sector oil companies are ready to change the present two-digit price display at fuel pumps if the petrol price hits ₹100 a litre.

A spokesperson for Indian Oil Corporation (IOC) said that the system could be changed to three-digit display if required.

A communication from IOC last year had said that extensive training had been provided to fuel dealers so that customers did not face any pricing misinformation or glitches after oil marketing PSUs commenced changing fuel prices on a daily basis from June 16, 2017. It had also said that at most of IOC’s automated fuel stations, the daily price was automatically updated centrally across India.

However, speaking for petroleum dealers, M. Radharksihnan of the Federation of Petroleum Traders said that barring new generation pumps, the system now could only display the price up to ₹99.99 and not beyond. Read more

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