Fuel Daily Price Change – a Welcome Move

CHENNAI:
Observing that daily price change at Petrol pumps is a market driven process, R.Sitharthan, Executive Director, IndianOil, Tamilnadu and Pondy and State Level Coordinator, Oil Industry said that:”Subsequent to the pilot exercise for dynamic daily pricing at Puducherry, Vizag, Udaipur, Jamshedpur, and Chandigarh during May’17, it is seen that daily price change is an exercise that is advantageous for everyone. Market driven dynamic pricing is what daily price change all about and it is sure to benefit everyone in the value chain including dealers, customers, Oil Companies, and all other attendant stakeholders. Its positive impact would be realized in the inventory holding of both dealers and Oil companies. Inconveniences would get nullified when the processes and system gets internalized and institutionalized”.
Rahul Bharadwaj, Executive Director, IndianOil (Telangana and Andhra Pradesh) said that “It is a major step in making system of pricing completely transparent. The system is in line with the international practices and is followed in all advanced economies. It benefits everyone in the value chain as there are no sudden spikes in Retail Selling Price. The final consumer, the dealer and the oil companies-everyone is protected against wide price fluctuations through daily price change”
DV Ramana Rao, General Manager (Retail Sales), Telangana and Andhra Pradesh State Office says that, “We have been able to implement the pilot exercise of daily pricing in Visakhapatnam without any difficulty with positive response from dealers and customers. With daily pricing, there are no spikes in prices and storage terminals are now able to plan their inventory and ensure smooth supplies”.
Vizag Deleaers
IndianOil dealer Ravi Baid of Vijaya Auto Services , Visakhapatnam says that he is extremely happy with daily pricing . He says “I suffered losses whenever there was huge price reduction on fortnightly basis .With daily pricing, I am happy that there are no more such huge variations in prices. I am able to manage inventory efficiently and avoid losses. Moreover it helps us to be more actively engaged with management of the petrol pumps..it is a good move for dealer fraternity as well as corporation and customers”.
Yet another IndianOil Dealer, Ravi Kumar of Prem Agencies, Vizag says that “Daily pricing is working perfectly and there are no problems. Happy that the prices are more stable with daily pricing. Customers are also happy with this move;it is a welcome move”
SK Jawahar of M/ S Steel City Shipping , customer of IndianOil Petrol Pump in the Port Area, says “I am happy with the daily price change. Am able to buy fuel daily without resorting to panic buying. The fortnightly pricing system gave rise to sudden steep price variations”.
Tamil Nadu Dealers
Muthukumar, a petrol pump dealer at Puducherry says that “Daily price change would reflect the International crude oil price changes immediately. Due to this customers would not feel a steep impact in fuel prices..prices would remain almost at the bandwidth and any increase or decrease would be felt marginally. Hence it is a welcome change”
Kumaran, proprietor of Kumaran Petroleum at Nagercoil district, who sells 1400 KL of Diesel pm says ” We welcome any government initiative that is customer oriented and which helps us to do the business with less complexities. This is an effort which would definitely benefit the customers. We may face slight inconveniences, which we would need to work out”