IndianOil successfully rolls out daily revision of petrol and diesel prices

The country’s largest fuel retailer has successfully rolled out daily price revision of Petrol and Diesel across the country through its network of 26,000-plus petrol pumps. The daily revision of petrol and diesel will set new standards of transparency, encourage automation drive of petrol pumps and better stock management practices. It is a win-to-all situation for consumers, industry as well as dealers. Complimenting the Oil & Gas industry for this initiative, Dharmendra Pradhan, Minister of Petroleum & Natural Gas (Independent Charge), tweeted, “Proud to share that India is the first country to switch to dynamic fuel pricing on such a large scale at one go.” After the complete transformation of the LPG sector, dynamic fuel pricing is the first major reform of recent times in Fuel Retailing Sector. With this historic step towards transparency and customer interest, the Indian Oil & Gas industry has joined the elite league of countries like USA and Australia wherein fuel prices are revised on a daily basis, a company press statement said.

IndianOil is monitoring the daily price revision round-the-clock through 87 control rooms (at 70 Divisional Offices, 16 State Offices and one at its Marketing Head Office, Mumbai) to offer quick redressal of queries from the field. IndianOil has accomplished 100% Retail Sales Price (RSP) updation across its entire network of petrol pumps.

“The seamless implementation of Daily Pricing has been possible due to support from our dealers fraternity,” said BS Canth, Director (Marketing), IndianOil.