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Business News
IndianOil launches app, SMS plan for customers to check daily fuel price
 
(NEW DELHI, June 12,2017):India's largest fuel retailer IndianOil on Monday said consumers would be able to see updated prices of petrol and diesel in all cities through the company's mobile app -- Fuel@IOC -- once the daily price revision kicks in from Friday.

Consumers can also cross-check the prices applicable in their city by sending an SMS, 'RSPDEALER CODE' to 92249-92249. The company has taken steps to ensure all its petrol pumps display the dealer code prominently.

The move is part of a larger effort to work with petrol pump owners and operators to ensure a smooth rollout of the daily price revision and prevent unscrupulous elements from duping consumers.

The state-run fuel retailers also reached out to the pump owners and operators to allay their apprehensions, which had prompted them to say they would stop lifting stocks from depots from June 16. HPCL chairman M K Surana and director, marketing, S Jeyakrishnan discussed the issues with the company's dealers through video conference on Monday.

Simultaneously, IndianOil said it will provide extensive training to dealers and their staff. The daily price revision would allow better inventory management by both the oil companies and the dealers, preventing surges or declines in purchasing pattern at the end of a fortnight, as is seen now. "The issue thus raised by dealers' associations on inventory losses consequent to reduction in prices and the concerns on retaining large inventory gains during price increase would no longer be relevant," IndianOil said in a statement.

It said all its 26,000-plus dealers will be given timely information on the effective prices at a pre-designated time, say 8 pm, for the next day. This can be set to automatically come into effect at midnight at the automated outlets without manual intervention.

At the non-automated pumps, dealers would get the updated price by way of four distinct means: customised SMS, e-mails, mobile app and web portal for dealers. The messages would be available to all automated and non-automated dealers.


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