Now, get daily fuel prices on a phone app

NEW DELHI: India's largest fuel retailer Indian Oil said on Monday that 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, 'RSP DEALER 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.

State-run fuel retailers also reached out to 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, Indian Oil 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," Indian Oil said in a statement.