STATE TIMES NEWS
JAMMU: Daily price change of petrol and diesel across the country by public sector oil companies viz Indian Oil, BPC and HPC will commence from 16th June, 2017 onwards, following the success of a pilot implementation in five cities.
The seamless execution of the 40 day pilot project at five cities viz Chandigarh, Jamshedpur, Puducherry, Udaipur, and Vishakhapatnam, has reassured all the stakeholders on the efficacy of its implementation.
Apart from reducing volatility, this move will ensure that there is no sudden increase or decrease in domestic selling prices. The benefit of even the smallest change in international oil prices can be passed down the line to the dealers and the end users. 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.
This initiative also looks at better daily inventory management by both OMCs and dealers and prevent surges or declines in purchasing pattern at the end of the fortnight depending upon market perception of upcoming increasing or decease of prices.
Extensive training of dealers will be held to ensure that customers do not face any pricing misinformation or glitches. All the 26,000 plus Indian Oil dealers will be given timely information on the effective prices at a pre-designated time – say 8:00 PM for the next day.
This can be set to automatically come into effect at midnight at the automated ROs, without manual intervention.
At the non-automated petrol pumps, dealers would get the updated price by way of 4 distinct means: customized SMSs, e-Mails, mobile app and web portal for dealers. The price revision messages through the above said means will be available to all automated and non automated dealers.
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.