IndianOil initiatives for smooth rollout of daily price change of petrol & diesel w.e.f. June 16, 2017

By Sarkaritel June 13, 2017 09:25

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Daily price change of petrol and diesel across the country by public sector oil companies, viz.,IndianOil, BPC &HPC, will commence from June 16, 2017 onwards, following the success of a pilot implementation in five cities. The seamless execution of the 40–day pilot project at five cities, viz., Chandigarh, Jamshedpur, Puducherry, Udaipur, and Vishakhapatnam, has reassured all the stakeholders on the efficacy of its implementation.

Apart from reducing volatility, this move will ensure that there is no sudden increase or decrease in domestic selling prices. The benefit of even the smallest changein international oil prices can be passed down the line to the dealers and the end–users. The daily price revision is an initiative for ensuring the best possible prices to the customers as well as improved transparency in the pricing mechanism.