However, for the consumers the daily prices will be prominently displayed at the petrol pumps and customers can also find out the dynamic rates via sms (short messaging service) and IOCL's mobile app.
"Customers would be able to fetch daily updated prices of petrol and diesel at all cities through Indian Oil's mobile app Fuel@IOC. Alternatively, customers may cross-check the prices applicable in their cities by sending SMS RSP< SPACE >DEALER CODE to 92249-92249. The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises," IOCL said.
"The daily price revision is an initiative for ensuring the best possible prices to the customers as well as improved transparency in the pricing mechanism," the company added.
However petrol pump owners claim that the state-owned fuel retailers have "jumped into" the decision without checking the ground reality about automation system of pump. Unless the price is pushed automatically through the automation system the petrol dealers are not ready to do it manually or fetch the price on a daily basis as being advised by the oil marketing companies. This manual intervention can lead to errors and delays in operation of the petrol pump,"the FAIPT said.
However Indian Oil Corp Chairman Sanjiv Singh, who has held extended parleys with petrol pump dealers from several states, said nothing is being done to the detriment of petrol pump operators. "Whatever they were doing at 15-day frequency, they will be required to do daily. That is the only change," he told Press Trust of India.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)