HYDERABAD: What if the daily revision of oil prices is implemented in the state and the city? Petroleum dealers say that close to 95 per cent of petrol pumps are fully automated in Hyderabad, which will facilitate a smooth transition to daily revised oil prices in the city, eventually.
Presently, state run oil companies have decided to revise petrol and diesel prices on a daily basis at five cities on a pilot basis.
The nationwide roll out of the new system is expected to follow only after the oil companies successfully troubleshoot problems arising out the 500 odd petrol pumps in the selected cities. The cities selected so far for the implementation of the process are, Puducherry, Vizag, Udaipur, Jamshedpur and Chandigarh.
“With respect to Hyderabad, over 95 per cent of the petrol pumps are fully automated. The automation allows the oil companies to set the prices at the pumps remotely,” said Prashant Reddy, member, All India Petroleum Dealers Association.
Currently, the oil prices are updated every 15 days. For those petrol pumps that are automated, the prices can be remotely adjusted by the oil companies. “If the automation system fails, the petrol pump cannot dispense fuel. In the event when the automation system fails, there exists a temporary system that allows the dealer to set the prices,” Prashant added.
The petroleum dealers are of the opinion that a complete switch to daily revision of fuel prices across the country will take time. “Apart from a few petrol pumps in the city outskirts, all other petrol pumps are automated. The oil companies manage to add a few more into the process, yearly. But for the whole country, it will take time,” opined Prashant.
“There is a lack of clarity as of now as to how the daily revision of prices will be executed. We have not yet received any notification regarding the implementation of the new process,” said a representative for the state oil companies.