[libranof1987]

Interesting.

PSU oil companies to revise rates everyday starting May 1, in select five cities.

Come May 1, petrol and diesel prices will change every day in sync with international rates, much like what happens in most advanced markets.

A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh, he said

http://economictimes.indiatimes.com/...w/58140570.cms

[dailydriver]

Originally Posted by StarScream

State-run oil companies plan to review fuel rates daily

Originally Posted by sgiitk

I always wondered while you were filling up, the price changed, then what will be applicable?

The daily dynamic pricing will initially be implemented in five cities viz Puducherry, Vizag, Chandigarh, Jamshedpur and Udaipur from 1st May 2017.

Source: http://www.deccanherald.com/content/...uel-price.html

[sgiitk]

Originally Posted by dailydriver

The daily dynamic pricing will initially be implemented in five cities viz Puducherry, Vizag, Chandigarh, Jamshedpur and Udaipur from 1st May 2017.

Source: http://www.deccanherald.com/content/...uel-price.html

Let us see! Also, it may be fun when they try it in the boondocks. How often will the local pump change its price! This may be hilarious.

[sibot]

I think the daily price adjustment by the OMC will have minimal effect on the price. Most of the price hikes we have seen in the past have come as central excise hikes. Probably the centre would use this more often now to augment their kitty and cut down their increasing fiscal deficit.

[mpksuhas]

I am wondering how marketing companies will be able to notify the end user about the price on a daily basis without the risk of fraud by retailers?

Lets say, the price was dropped by Rs 1 today. But if the retailer keeps selling it at older price I do not think there is a fool proof way for user to detect the same.

May be a digital signboard linked to marketing companies server which displays actual rate or something similar should be introduced I guess at each bunk.

[dailydriver]

Originally Posted by mpksuhas

I am wondering how marketing companies will be able to notify the end user about the price on a daily basis without the risk of fraud by retailers?

May be a digital signboard linked to marketing companies server which displays actual rate or something similar should be introduced I guess at each bunk.

Digital signboards are the way to go. We can see the same practice in Jewellery shops. Liquid gold prices too can be displayed the same way.

However, the daily revision should not result in a constantly fluctuating rate card wherein people start calculating when to refuel. The practice of changing the rates at midnight is a good one and should be continued.

More on this here: https://www.team-bhp.com/forum/india...ml#post4181715 (May 2017: Fuel prices to be revised on a daily basis in 5 cities)

[Dr.Vikas]

Tomorrow there could be a possible hike in the Petroleum prices.

Price Trend: (as on 14.04.17)

Petrol (+) 1.15/ltr;
Diesel (+) 0.90/ltr

[sanchari]

The rupee has also strengthened against dollar. So the increase might be less than a rupee if at all

[balajisv]

Soon this thread will lose its importance when the fuel prices change on a daily basis!!

[Vitalstatistiks]

Originally Posted by balajisv

Soon this thread will lose its importance when the fuel prices change on a daily basis!!

I thought so too. But, given how these things turn out in India (implementation wise), I have a feeling this thread may become even more important. Just to keep a tab on prices at different bunks in same region as well, pretty much on daily/weekly basis.

[jaaz]

Originally Posted by Dr.Vikas

Tomorrow there could be a possible hike in the Petroleum prices.

Price Trend: (as on 14.04.17)

Petrol (+) 1.15/ltr;
Diesel (+) 0.90/ltr

You're very close with your analysis. I guess, you should change your profession. Fuel prices increased:

Petrol (+) ₹1.39
Diesel (+) ₹1.04

You might've been still closer, if your price trend was calculated as on 15th April.

[Dr.Vikas]

Originally Posted by jaaz

You're very close with your analysis. I guess, you should change your profession. Fuel prices increased:

Petrol (+) ₹1.39
Diesel (+) ₹1.04

You might've been still closer, if your price trend was calculated as on 15th April.

Well said & that's spot on, jaaz..

In fact, I am in charge of a HPCL bunk at our native place since 3+ yrs..

And the revision at our bunk is 1.75 ₹ & 1.26 ₹ respectively.

The trend we follow regularly in our WA group is very much based on the then market conditions. And it hardly fails..

Yesterday we topped up the tanks with 6kl MS & 6 kl HSD so as to compensate the loss occurred during the previous revision.

Thanks again for your comment, buddy..

Mod Note: Post Edited. Smiley usage is restricted to two per post on Team-BHP. Please do NOT use more than 2 smileys in a post.

[sgiitk]

Originally Posted by Dr.Vikas

Tomorrow there could be a possible hike in the Petroleum prices.

Price Trend: (as on 14.04.17)

Petrol (+) 1.15/ltr;
Diesel (+) 0.90/ltr

Doc you were almost spot on.

Originally Posted by sanchari

The rupee has also strengthened against dollar. So the increase might be less than a rupee if at all

the rupee has been moving in a narrow range, but Brent is creeping up. Actually what the price is based on the IPP of the actual fuels, but Brent is a good guess. With Trump in the random belligerent mood I do not see fuel prices coming down in a hurry.

[Dr.Vikas]

Originally Posted by sgiitk

Doc you were almost spot on

Sir, that's something what we keenly follow during price revisions every fortnight..

@ Vitalstatistiks,
In view of the objections raised by the Dealer Associations pan India, I don't think the idea of daily price revision will come into an existence..

[mahadev_kc]

Originally Posted by Dr.Vikas

Yesterday we topped up the tanks with 6kl MS & 6 kl HSD so as to compensate the loss occurred during the previous revision.

How does this work? Is it not the IOC/HPC etc.. knows how much stock one petrol bunk has and accordingly they adjust the price the petrol bunk has to pay or receive from IOC/HPC?

Can you kindly educate us..