India’s largest oil marketing company, Indian Oil Corporation (IndianOil) in a statement has assured that the daily price change of petrol and diesel across the country by the public sector oil companies viz IndianOil, BPC & HPC will commence from June 16, 2017 onwards, a move that will benefit the consumers.
“This move will ensure that the benefit of even the smallest change in international oil prices can be passed down the line to the dealers and the end users,” IndianOil said.
Dealers have been carrying out price changes regularly. Similarly even now, the same system would continue, but on daily basis.
“Dealers will ensure price updation at their fuel stations before start of sale, every day. Updated prices will be immediately exhibited at all petrol pumps for information of the public,” it said.
For their convenience and assurance, customers would be able to fetch daily updated prices of petrol and diesel at all cities through IndianOil’s mobile app – Fuel@IOC.
Alternatively, customers may cross-check the prices applicable in their cities by sending SMS RSP<SPACE>DEALER CODE to 92249-92249. Dealer Code of each Petrol Pump would be prominently displayed at the petrol pump premises.
The Daily Price Revision is an initiative for ensuring the best possible prices to the customers as well as improved transparency on the pricing mechanism.
The move follows the success of a pilot implementation in five cities. “The seamless execution of the 40 day pilot at 5 cities viz Chandigarh, Jamshedpur, Puducherry, Udaipur, and Vishakhapatnam, has reassured all stakeholders on the efficacy of its implementation,” it said.
IndianOil further said that extensive training of dealers will be held to ensure that customers do not face any pricing misinformation or glitches.
All the 26,000 plus IndianOil dealers will be given timely information on the effective prices at a pre-designated time – say20:00 hrs for the next day.
At a large number of IndianOil’s 10,000 automated Fuel Stations, daily price can be automatically updated centrally, besides technology also provides to schedule the price change at 00:00 hours.
At the non-automated petrol pumps, dealers would get the updated price by way of 4 distinct means: customized SMSs, e-Mails, mobile app & web portal for dealers.
These means of communication are also available to dealers of automated petrol pumps.
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