Indian Oil tests protocols for implantation of dynamic pricing

Mumbai: State-run Indian Oil Corp. on Thursday said it has successfully tested all protocol systems related to dealers and customers to ensure a successful roll out of the daily dynamic pricing structure for petrol and diesel prices from June 16.

Petrol and diesel prices will be revised daily from June 16 onwards by the three oil marketing companies (OMCs) in sync with global crude oil prices.

Daily revision of Retail Selling Prices (RSP) on a national level comes after the mechanism was successfully implemented on a pilot basis in Udaipur, Jamshedpur, Visakhapatnam, Chandigarh and Puducherry from May 1.

According to Indian Oil, it has conducted trial runs across India since June 12 for communicating petrol and diesel prices through SMS, E-mail and customer portal to 26,000-plus dealers.

"The trial runs have also helped in ensuring dealer data correctness -- viz mobile number and e-mail ids. This has ensured 100 per cent accuracy in communicating daily price change to every dealer," the company said in a statement.