New Delhi: From today on wards, the retail prices of petrol and diesel will be revised daily. The prices of petrol and diesel have already been slashed by Rs 1.12 and Rs 1.24 respectively, which affects from 6 a.m.
Earlier this month, the oil marketing companies decided to make the daily revision. It is intended to make the retail prices more reflective of the current market conditions and minimising the volatility in the retail price of both the petroleum products. It also intended to enhance transparency in the system, besides enabling smoother flow of products from refinery to retail outlets.
The decision to revise the prices on a daily basis was taken by the Indian Oil Corporation, the Hindustan Petroleum Corporation and the Bharat Petroleum Corporation after successful implementation on pilot basis in Udaipur, Jamshedpur, Puducherry, Chandigarh and Vishakhapatnam.
Many developed countries are already revising the prices of petrol and diesel on a daily basis.
How to check prices online:
Consumers can visit the Indian Oil website. Once on the website, they can use the ‘RO Locator’ tool to locate the Indian Oil retail outlet nearest to them based on their location.
The website displays prices of various products sold.
How to check rates through SMS:
Consumers need to send an SMS to fetch the current rates applicable at a dealer. Indian Oil has prescribed a format for sending such SMSes: SMS RSP< SPACE >DEALER CODE to 92249-92249 “The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises,” IOC has said.
How to check petrol, diesel prices through app:
Indian Oil’s mobile app, called “Fuel@IOC – IndianOil”, also enables customers to check current prices. You can download the Indian Oil app on both the Apple store and Google play store.