Petrol, diesel dynamic pricing begins, prices down today: Here’s how this will work

New Delhi, June 16: The rates of petroleum, diesel were cut down today as part of the new system of daily changes in rates of petrol, diesel which will be in sync with any change in international oil rates. After today’s petrol price revision, the rates of petrol prices in 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. The diesel rates in these cities will be Rs 54.49 in Delhi, Rs 59.90 in Mumbai, Rs 57.41 in Chennai, and Rs 56.65 in Kolkata, according to Indian Oil. The rates of the petroleum products will be changed at 6 AM every day depending on the changes in the prices on the previous day.

Daily revision of retail selling prices (RSP) has already been implemented Udaipur, Jamshedpur, Visakhapatnam, Chandigarh, and Puducherry from May 1 and will be implemented across the country from Friday, June 16.

HERE’S HOW THIS WILL WORK

Every day, the rates of petroleum products would be changed as part of the Petrol Diesel dynamic pricing, according to which the prices will be revised daily.

For daily revisions, the Indian Oil Corporation has set up LED screens at petrol pumps, toll-free number, social media posts, price revision app alerts and SMSes.

Every petrol pump will have dealer’s code which will be prominently displayed to allow consumers to verify the prices through SMS.

Indian Oil said that the dynamic pricing of the fuel products is done to ensure best services in terms of best possible prices to the customers and to ensure transparency in the pricing mechanism. (Also Read: Petrol to be cheaper by Rs 1.12, diesel cost slashed by Rs 1.24 per litre)

Indian Oil had earlier said that the daily shift in prices is to ensure that there isn’t any sudden increase or decrease in domestic fuel prices.

HERE’S HOW YOU CAN CHECK THE FULE PRICE CHANGES

Prices will be communicated to the customers through SMSes, mobile app etc.

Through Mobile App: To check the fuel price changes, people can download the mobile app called “Fuel@IOC – IndianOil” to keep a track and know the daily update in the daily petrol prices in all cities.

The mobile application is available on both Google Play and Apple Store, for Android and iPhone smartphone users respectively.

Through SMS: The daily updated petroleum, fuel prices can also be known through SMS. Customers are required to send a message — RSP< SPACE >DEALER CODE to 9224992249. Note: The dealer code of each petrol pump will now be displayed at every fuel station.

Through Web: The customers can track the daily changes in rates of petrol, diesel at the Indian Oil web page using RO Locator. Visit the Indian oil website, use the RO Locator tool to locate the Indian Oil retail outlet based on the location. The prices of various products will be displayed.

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