IndianOil initiative on daily price change of petrol and diesel

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IndianOil initiative on daily price change of petrol and diesel from June 16

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IndianOil initiative looks at better daily inventory management by both OMCs and the dealers and prevent surges or declines in purchasing pattern at the end of the fortnight depending upon market perception of upcoming increase or decrease in prices. The issue thus raised by Dealers' Associations on inventory losses consequent to reduction in prices and the concerns on retaining large inventory gains during price increase would no longer be relevant. Thus the fortnightly sales distortion and pressure on the marketing infrastructure would be avoided.

Extensive training of dealers will be held to ensure that customers do not face any pricing misinformation or glitches. All the 26,000+ IndianOil dealers will be given timely information on the effective prices at a pre-designated time – say 20:00 hrs 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 four distinct means: customised SMSs, e-Mails, mobile app & web portal for dealers. The price revision messages through the above said means will be available to all automated and non-automated dealers.

In fact, except for the reduction of the periodicity of price revision from once in 15 days to every day, the system of price revision remains the same. 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.

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 RSPDEALER CODE to 92249-92249. The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises.