Daily price change oils OMCs' inventory

After a brief trial in five cities, the mechanism was adopted across country

Amritha Pillay  |  Mumbai 

The first month of introducing a daily change in fuel prices might have left dealers fuming but oil marketing companies (OMCs) are a happy lot. The nationwide roll-out of the dynamic fuel pricing mechanism is helping manage inventory better, said OMC officials.  Starting June 16, the petroleum ministry decided to allow a daily change in fuel prices at retail outlets, to mirror changes in global crude oil prices. Before that, outlets revised prices on a fortnightly basis. After a brief trial in five cities, the mechanism was adopted across the country. OMCs are seeking ...

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