Implementation of daily fuel price revision a complete success: Indian Oil

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Hyderabad: The country’s largest fuel retailer Indian Oil has successfully rolled out daily price revision of petrol and diesel fuels across the country through its network of 26,000-plus petrol pumps from 6 am Friday morning, a statement issued by the Mumbai office of the State-run company said.

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, the statement read.

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, where fuel prices are revised on a daily basis, the company said.

Indian Oil is monitoring the daily price revision round-the-clock through 87 control rooms to offer quick redressal of queries from the field. Indian Oil has accomplished 100 per cent retail sales price (RSP) updation across its entire network of petrol pumps, the statement said.

“The seamless implementation of daily pricing has been possible due to support from our dealers fraternity,” said BS Canth, Indian Oil marketing director.

Since a month, Indian Oil has been regularly conducting awareness sessions with dealers on daily price revision. The findings from pilot implementation of daily price revision in five cities has also ensured closing of all the gaps in the existing system that ensured triumphant implementation of fuel price revision across the country.

For this yet another customer-centric initiative, Indian Oil said it has developed various information modes for the customers to check the price being charged by the petrol pumps.

A mobile app ‘Fuel@IOC’ has been launched for customers to be able to fetch daily updated prices of petrol and diesel in all cities. 

Customers can also 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 is displayed in the petrol pump premises, the company said.

Alternatively, customers can check the prices applicable in their cities by following this link, which is part of the Indian Oil website.

In case of any discrepancy, customers can access Indian Oil easily as all its petrol pumps prominently display the mobile numbers of field officers, the company statement said.

One can also submit complaints on the website, or reach out by phone at Indian Oil’s Customer Care number 1800-2333-555.