Oil firms want you to pay different prices for fuel every day
If India's oil giants have their way, you could be paying different prices for diesel and petrol everyday. State-run oil companies are now planning to review rates of fuel on a daily basis to align them with international prices and want to do away with the current practice of fortnightly revision. The proposed plan is how advanced markets work across the globe.
The Indian Oil Corporation, Bharath Petroleum and Hindustan Petroleum are considering ways to roll out the plan to review petrol and diesel prices daily and the same was discussed with petroleum minister Dharmendra Pradhan when officials of the oil companies met him on Wednesday.
Representatives of the oil companies believe that while the idea of daily pricing was on the cards it was put on hold due to lack of technology, but that situation has now changed. While no deadline has been set for the same, fuel companies believe that the shift is likely to happen soon.
The
technology
that
may
allow
the
shift
Most
filling
stations
today
work
on
automation
that
allows
companies
to
centrally
change
prices.
Digital
connectivity
and
social
media,
companies
believe,
will
help
them
convey
price
changes
to
close
to
53,000
filling
stations
across
the
country.
Earlier,
price
change
required
communication
through
individual
phone
calls,
faxes
etc
which
need
not
be
the
situation
anymore.
OneIndia News