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Daily price revision for petrol and diesel has proved to be successful, as most dealers have accepted it, according to D Rajkumar, Chairman & Managing Director of Bharat Petroleum Corporation Ltd (BPCL).
“Initially, there was some apprehension within the dealer community. But after a lot of deliberations, it has been received positively,” he said.
Rajkumar said under the daily price revision system, introduced from June 17, the maximum increase has been about 18 paise per litre for diesel and maximum reduction has been 27 paise. Under the earlier 14-day or 15-day price revision pattern, the maximum increase would have been ₹1.6 per litre and the decrease would have been ₹1.16, he pointed out.
Under the earlier mechanism, if there was announcement on price increase from midnight, there would be a sudden spurt in demand. And, if prices had to be cut, dealers would accept stocks and run out of products.
On retail expansion, S Ramesh, Director - Marketing, said the focus would be more on improving sale volume per retail outlet.
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