newznew (Chandigarh) : Petrol and diesel prices will be revised daily as per international oil rates starting this Friday. The revised price will be updated at 6 am every day as per the movement referring the price on the previous day. The pilot run of this Dynamic fuel pricing or daily revision of retail selling prices (RSP) has been implemented.Chandigarh, Udaipur, Jamshedpur, Visakhapatnam, and Puducherry have observed Dynamic fuel pricing from May 1. So many people are thinking on How to Track Oil Price.This article might be a solution for your question.
How to Check oil Price through Mobile App:
Customers can avail the oil price by downloading Indian Oils apps like Fuel@IOC , Fuel Price India Petrol Diesel, Petrol Diesel Price – INDIA , Indian Petrol Price, Daily Petrol, Diesel Price in your city, Fuel Prices Online, Daily Fuel Price India petrol diesel to track the updated daily petrol prices in all cities across India.
How to track Oil Price through SMS:
Users can also get the updated fuel prices with an SMS. Indian oil has prescribed a format to send a message — RSP< SPACE >DEALER CODE TO 9224992249. Also, the dealer code of each filling station is displayed at the pump.
How to Check Fuel Price through Webpage:
Indian Oil Corporation also provides the facility to check the daily revision in fuel prices by using RO Locator. Conversely, The link is available through IOC’s official website.
This Daily fuel pricing or retail selling price is followed in several developed countries. It is expected that the move allows oil companies deal accordingly with international oil prices. Thus, it also helps oil marketing companies to negotiate the fuel price fluctuations in international pricing.
On the other hand, Petrol pump dealers argue that around 40,000 fuel outlets are automated out of 58,000 stations. Out of which only 5,600 are internet enabled and are ready for daily revisions. Also, they complain about the implementation may face problems in small towns due to little manpower.
The state-run Indian Oil Corp has sought to reassure the dealers who are worried about inventory loss. “The fear of dealers about inventory loss is unwarranted as the change of prices will happen both upwards as well as downwards, and thus both gain and loss would compensate each other,” says, IOC in a release.