From Friday onwards, petrol and diesel prices will be changed on daily basis. But there is another twist in the tale. Apart from daily changing of the prices, petrol and diesel prices will be different at every pump also.
Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum all are ready to launch the daily fuel price change from Friday. To keep a tab on daily change in prices, a consumer would get to see the present rate at each pump. Prices might vary by up to 15 paise per liter, based on market forces. These price change from the pump to pump is the cause of transportation cost, which depends on the distance between the supply plant and petrol pump.
There are two types of pumps in a city. One which is automated pump where dispensing units are connected with the oil company’s central server. At automated stations, the prices will automatically update at 12 midnight. Whereas the other one is non-automated, where the dealer has to manually write the daily price change on the notice board. All oil dealers will receive an alert about revised fuel rates for the next day from oil companies at 8 pm daily. They have to update the rate at midnight and follow the same pricing till 12midnight the next day.
An oil company official in a statement said, “The name and contact number of the oil company’s field officer will be displayed at the petrol pump. If a consumer finds an irregularity in the pump unit or if the pump doesn’t display price change, he can immediately call the field officer and action will be taken in 24 hours”.