Petrol pumps call off strike

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Federation of All India Petroleum Traders (FAIPT), which claims to represent most of the nation's 54,000 fuel stations, earlier this week had said there will be "no purchase no sale" of petrol and diesel on June 16 protesting against the government's decision to implement daily revision in fuel prices.

Earlier in the day, Delhi Petrol Dealers Association chose to join the call given by the Federation of All India Petroleum Traders (FAIPT) for "no-purchase-no-sale" day on 16 June, saying the state-owned fuel retailers have "jumped into" the decision without checking the ground reality about automation system of pump. This entire system is based on automation of retail outlets so that prices change automatically at midnight.

You can download the respective oil marketing companies mobile app for the daily price change of petrol and diesel. During the meeting, the Minister heard all concerns of the dealers.

"This move will ensure that the benefit of even the smallest change in global oil prices can be passed down the line to the dealers and the end-users", Indian Oil said in a statement here.

In case of non-automated ROs, manual change of price has to be done. The price revision messages through the above said means will be available to all automated and non-automated dealers.

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He said this measure will benefit everyone in the value chain as there are no sudden spikes in Retail Selling Price (RSP).

Singh, however, said about 10,000 out of IOC's 26,000 petrol pumps across the country are already automated, where prices can be changed remotely, and the remaining will be automated by 2018.

Also, Pradhan has asked the three oil companies to automate all their petrol pumps on a war footing and as fast as possible.

To bring transparency in the system and to be aware of the prices of the petrol and diesel on a daily basis, oil marketing companies are providing information on how to check the daily price change of petrol and diesel.

The Indian basket of crude oils closed below the psychologically important $50-a-barrel mark last week as geopolitical tensions in the Middle East raised market concerns.

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