Petrol, diesel daily change of prices: What you need to know?
Posted on: 16/Jun/2017 3:12:47 PM
The price of petrol and diesel will be fixed on daily basis from 16th June. This system was set up on a trial basis in Puducherry, Chandigarh, Jamshedpur, Udaipur, and Vizag. The trail was successful. So, a decision was taken by the oil corporations to extend this system throughout the country.
Until now, the public sector undertakings Indian Oil, Bharath Petroleum, and Hindustan Petroleum had been revising the petrol/diesel prices twice a month.
There are around 54000 Petrol bunks throughout the country owned by these corporations.
The price will be fixed based on the international market prices. Now, it is planned to change over to daily mode.
Hence, it is essential for the common public to be aware of some basic information regarding this:
The central minister for Petroleum, Mr. Dharmendra Pradhan announced that the prices of petrol/diesel will be fixed at 6.00 AM daily from 16th June (today).
It is explained that this new system is being implemented to overcome some procedural problems encountered by the petrol bunk owners.
How to get daily change of Petrol, diesel prices?
The oil corporations have devised many methods for this. The price can be known instantly by sending SMS or by using Indian Oil Corporation app.
For getting SMS, type: RSP (DEALER CODE). Send to 9224992249. When using Android or iOS mobile phones, the user can update the mobile app of Indian Oil Corporation Fuel@IOC.
It is informed that the dealer code will be displayed in large letters in every bunk.
What is the trend of the price change?
The daily change in petrol price will depend on the international market price. In case there is no major change in international market price, there would be no change here as well.
Indian Oil Corporation has informed that this new measure is being taken mainly in order to pass on the benefits occurring in the international market price trend to the customers.
