Some time ago, the Indian government launched a pilot program in five cities. Under this pilot program, the government wanted to see the viability of changing the prices of petrol and diesel fuels on a daily basis. Why? In India, the petrol and diesel prices are revised every fortnight. This way, many a times end users do not benefit from reduced international oil prices. A few other problems also exist, such as users not aware of reduction/hike in fuel prices in the country. This pilot program was started to find an answer to all such issues. Starting tomorrow, across India, fuel prices will be revised daily. What this means for you and what you can do in the case of daily fuel price change is what we will tell you about. Keep reading.
Fuel Price Change: All You Need To Know
How did this happen?
A 40-day trial, starting from May 1, was done in Chandigarh, Udaipur, Vishakhapatnam, Jamshedpur and Puducherry was conducted. This trial was about daily fuel price change and how effectively can such changes be implemented. With whole country to now observe this, it’s needless to say that this 40-day trial by Indian government was successful.
So, how does this system work?
Here’s how this system works. Fuel retailers are informed via different means (SMS, mobile apps, emails, and dealers’ website) about the change. Post this, the change will be updated at bthe fuel station immediately. Quite simple, don’t you think?
But there are so many fuel stations in India. Will it not be difficult?
Certainly, one of the crucial problems to deal with in this case is the level of technology available at a fuel retailer. A number of retailers have automated systems to handle this task without requiring the slightest of manual inputs. However, there are a greater number of fuel stations that have no systems in place, either automated or manual. Since 90 per cent of fuel stations are state-owned, timely updating the prices is all that is needed. For this reason, the price changes will take place at 6:00am every day.
What about the strike by fuel retailers?
The fuel retailers’ strike took place because earlier, the price change was to come into effect every midnight. However, Minister of Petroleum and Natural Gas Dharmendra Pradhan recently announced that all price changes will take place at 6:00am every day. This is what made the retailers call off their strike yesterday.
How do I know whether a retailer is using updated prices or not?
There are three ways in which you can know whether a fuel retailer has updated the fuel prices or not. These methods are in addition to retailers having to display these changes on their hoardings. So, please take note of what you can do in this case:
- Know about these changes through oil retailers’ apps
- Visit a retailer’s website under and look for changes under the Pump Locator head
- Type RSP<SPACE>DEALER CODE and send the SMS to the requisite retailer’s number. The dealer code is displayed at each fuel station’s premises.
Fuel Price Change: Conclusion
Fuel price change is a big headache for a lot of motorists in India. Lower fuel prices mean a smaller hole in a user’s pocket. This is the rationale behind this move. Indian Oil Corporation’s head B Ashok has said that this move will prevent sudden shocks to users. Yes, when the prices climb, those will also be updated. However, this will help to make the fuel pricing mechanism transparent to the end user. To that end, we don’t know if there is a better trick than this to achieve such a goal.