Petrol and diesel prices will not be revised on a daily basis from Friday (June 16) but will show a variation from one petrol pump to another.
The variation could be up to 15 paise per litre, according to a report in the Times of India.
The news comes amid petroleum dealers deciding to call off the strike they had planned for Friday, in protest against the decision to fix daily prices at midnight. The government agreed to their demand for fixing prices at 6 am every day.
Currently, both diesel and petrol are sold through a network of 59,595 retail outlets (as of April 1, 2017), of which 92 percent are owned by state-run companies — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd. (HPCL).
Here is how you can check daily fuel prices:
Fuel consumption rose 5.4 percent YoY to 17.8 million tonnes in May, according to data released by the Petroleum Planning and Analysis Cell (PPAC).
Here are the prices in the five select cities on June 15; as widely reported, the scheme is currently in practice in the five cities, and will be implemented across India from Friday.
Guidelines issued by IOC in connection with the daily fuel price system:
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 RSP< SPACE >DEALER CODE to 92249-92249. The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises.