Fuel Pricing Simplified: One Price, One Product Era
The Era of Single Pricing for Fuel Begins
The Energy Market Regulatory Authority is taking steps to eliminate the confusion for drivers when it comes to fuel prices. They are preparing to implement a new regulation that will establish a single product and single price system at fuel stations. This change is expected to come into effect on April 30, 2024.
Previously, gasoline and diesel were sold at gas stations with different names such as ‘ultra powerful’ or ‘fuel efficient’, which often led to higher prices for these fuels. Claims of providing fuel savings, engine cleanliness, and enhanced vehicle performance were commonly made. However, this practice is now being phased out. In the future, fuels will simply be sold as gasoline, diesel, and LPG without any additional prefixes.
To ensure compliance with the new regulation, distributor license holders will be responsible for monitoring the sale of differentiated fuels through the station automation system. If fuels of the same type with different trade names are mixed, they can only be sold at the price of the undifferentiated product with the lowest price.
The Energy Market Regulatory Authority emphasized that there are no quality distinctions between differentiated fuel oils and others, regardless of the type of vehicle they are intended for, such as automobiles, buses, trucks, trailers, or tractors.
This move towards a single pricing system for fuels is expected to simplify the fuel purchasing process for consumers and promote fair competition among fuel stations. Drivers can soon expect to see a more transparent and uniform pricing system in place at gas stations.
