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The three state-owned oil marketing companies (OMCs) — IndianOil, Bharat Petroleum Co Ltd and Hindustan Petroleum Co Ltd — will commence the daily price revision of petrol and diesel products across the country from June 16, 2017.
The new mechanism of daily price revision follows a successful execution of a 40-day pilot project earlier at five cities of Chandigarh, Jamshedpur, Puducherry, Udaipur, and Vishakhapatnam.
"Extensive training of dealers will be held to ensure that customers do not face any pricing misinformation or glitches," the company said in a statement.
"All the 26,000 plus IndianOil dealers will be given timely information on the effective prices at a pre-designated time. This can be set to automatically come into effect at midnight at the automated ROs, without manual intervention."
According to the Oild Marketing Companies, at the non-automated petrol pumps dealers would get the updated price by way of customised SMSs, e-mails, mobile app and web portal.
"Dealers will ensure price updation at their fuel stations before start of sale every day. Updated prices will be immediately exhibited at all petrol pumps for information of the public," the statement added.