Bengaluru: The daily revision of petrol and diesel prices across the country by public sector oil companies, like IndianOil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, will start from Friday.
It will ensure that the benefit of even the smallest change in international oil prices is passed on to dealers and customers. The government has decided to go ahead with the daily revision of prices after the success of a 40-day pilot in Chandigarh, Jamshedpur, Puducherry, Udaipur and Vishakhapatnam. The pilot has reportedly reassured all the stakeholders that the system is effective and efficient.
All the 26,000-plus IndianOil dealers will be given information on effective prices at a pre-designated time, say 8 pm, for the next day.
At IOC's 10,000 automated fuel stations, daily prices are updated automatically centrally. Besides, the technology also provides scheduling of price changes exactly at midnight. At non-automated petrol pumps, however, dealers will be given the updated price sthrough customised SMSs, emails, a mobile app and web portal.
Dealers will ensure that the prices are updated at the fuel stations before the start of sale every day. Updated prices will be immediately exhibited at all petrol pumps to help the public.
IOC customers can access daily updated prices through IndianOil's mobile app, Fuel@IOC.
