Petrol and diesel prices were cut today as part of new system of daily change in rates of petroleum products, in a shift to daily price revisions. Under the new daily revision system, even the smallest change in international oil prices can be passed down to consumers. Till now, Three PSU oil marketing companies revised the rates on the 1st and 16th of every month based on average international crude oil prices and foreign exchange rates. Indian Oil has said the daily price revision is an initiative to ensure the best possible prices to the customers as well as improved transparency in the pricing mechanism. Daily price revision follows a successful experiment in five cities – Chandigarh, Jamshedpur, Puducherry, Udaipur and Vizag – where daily price change started from May 1.
After today’s revision, petrol prices in the four metro cities would be Rs 65.48 in Delhi, Rs 76.70 in Mumbai, Rs 68.02 in Chennai and Rs 68.03 in Kolkata. Similarly, diesel rates will be Rs 54.49 in Delhi, Rs 59.90 in Mumbai, Rs 57.41 in Chennai and Rs 56.65 in Kolkata, Indian Oil said.
How to check prices online:
Indian Oil Corporation has set up 87 control rooms across the country for addressing technical glitches or system issues that may be arising at the dealer’s end. Prices will also be communicated to dealers by four modes: customised SMSes, e-mails, mobile app and web portal for dealers. “These means of communication are also available to dealers of automated petrol pumps,” Indian Oil has said.
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 RSPDEALER CODE to 92249-92249
“The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises,” IOC has said.