After the pilot project conducted by state-run Oil Companies in 5 cities with respect to daily price revision of petrol and diesel, the price of fuel shall change all across India on a daily basis with effect from June 16, 2017. The move shall be in line with advanced markets that follow dynamic pricing model.
So, to keep yourself well-acquainted as to how this pricing change shall affect you or how you can better monitor it, here are a few places where you can find daily petrol and diesel prices.
For the Rates, different oil companies have come up with different App:
For eg: IOC to enable customers and dealers better track changes in rate of fuel came up with Fuel@IOC app. The app can be downloaded from Google Play Store or Apple Store.
HPCL will provide updates on rates through its MYHPCL App while BPCL has come up with an app by the name SmartDrive.
Web and SMS facility can also be used for finding or searching price changes:
Customers can also visit the site of the company and with the help of RO locator, locate the retail petrol pump outlet and know the rates for a particular day. SMS facility has also been started , whereby the user can send the SMS in the following format depending on the OMC.
For Indian Oil Outlets, you need to send RSP Dealer code to 9224992249
Similar format has to be used by customers of Bharat Petroleum, however the SMS is to be sent to 9223112222
For HP customers, company has come up with this format, HPPRICE Dealercode. The SMS has to be sent to 9222201122. For dealer code, each of the petrol pump have a board with the code highlighted in a prominent way.
Not all Fuel Stations have been automated to incorporate the change :
As per reports only about 20% of the petrol pumps have been automated, so customers need to extra cautious to with respect to rates of a particular day.
Unless Fuel Price in International Markets see huge variations no big fluctuations will be seen in domestic market:
The price change on a daily basis is being effected for bringing more transparency in the pricing mechanism and also to provide customers with the best possible rate for fuel. In near term, those using CNG as a fuel for running their vehicles will also have to get accustomed to this daily fluctuation.
Daily at 6 am rates of petrol and diesel shall be revised
Until now price of petrol and diesel was changed on a fortnightly basis i.e. on 1st and 16th of every month but now you will see daily revision in price of fuel. The price change shall be effected from 6 am everyday depending on the change in cost of fuel on the preceding day.