Now, check daily revision of fuel prices on this app

The dynamic pricing structure, a practice followed by many developed countries, will replace the current system of revising prices bimonthly.

By: Express Web Desk | New Delhi | Published:June 13, 2017 4:06 pm
Petrol Prices, Daily revision of petrol prices, IOCL, Petrol pumps Daily revision of petrol prices is expected to begin on Friday, June 16. (Representational Image)

With fuel prices set to be revised on a daily basis from June 16, the Indian Oil Corporation Limited’s (IOCL) released a mobile app to help customers keep a tab on the fluctuations. Customers can also receive the same information by sending an SMS, ‘RSP< SPACE >DEALER CODE’ to 9224992249, the Times of India reported. The dealer code of every petrol pump will be displayed on its premises.

“Customers would be able to fetch daily updated prices of petrol and diesel at all cities through Indian Oil’s mobile app Fuel@IOC. Alternatively, customers may cross-check the prices applicable in their cities by sending SMS RSP< SPACE >DEALER CODE to 92249-92249. The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises,” IOCL was quoted as saying by TOI.

The proposal to revise prices every day in accordance with international crude prices was initiated by three state-run oil marketing companies, IOCL, Hindustan Petroleum Corporation and Bharat Petroleum Corporation.

“The daily price revision is an initiative for ensuring the best possible prices to the customers as well as improved transparency in the pricing mechanism,” the country’s larger oil retailer added in a statement.

The dynamic pricing structure, a practice followed by many developed countries, will replace the current system of revising prices bimonthly. Pilot runs were carried out  by the three state-run oil firms in five cities last month, Udaipur, Jamshedpur, Puducherry, Chandigarh and Visakhapatnam.

The Federation of All India Petroleum Traders (FAIPT), which claims to represent at least 54,000 fuel stations across the country, is protesting the move and will go on strike on June 16. In a statement, the organisation said, “Dealers of five cities where it was launched have already burnt their fingers. They are crying at the inventory loss that they have already suffered due the fluctuations in the daily changing prices on the inventory held by them.

“One tank lorry of 18 Kls lasts most of such small dealers 7 to 10 days. Any such decision shall wipe out his entire working capital if the prices were to go down frequently,” it added. The body is expected to meet ministry representatives today to discuss the proposal.”

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  1. S
    Saurabh Agarwal
    Jul 26, 2017 at 10:32 pm
    The problem with these sites is that data is not present in a readable format. Found the site Petromojo ( petromojo ) to be really good in finding correct fuel prices which is updated daily and does not show any ads.
    1. D
      Desi Geek
      Jul 17, 2017 at 11:26 pm
      Even better, One app where you can see all the changes for all three companies IOCL, BPCL, HPCL. No nagging ads. com.dailypetrolpriceindia.dailypetroldieselpricefinder Right click on the above and search in google. Have fun friends and know the trends :)
      1. R
        Jun 21, 2017 at 3:49 pm
        I searched the entire playstore to find a app that has no adverti ts. Its better to create an app with service motive instead of money making. I got the below app. It is very nice accurate and gives more informations like nearby fuel stations etc. s: /store/apps/details?id io.fuel dia Check it out.
        1. D
          Desi Geek
          Jul 17, 2017 at 11:24 pm
          That app has large add to. here is one that really does not have any add s: /store/apps/details?id com.dailypetrolpriceindia.dailypetroldieselpricefinder
        2. N
          Jun 17, 2017 at 10:22 am
          I made an API to check daily fuel prices in India, please have a look at do entation s: market.mashape /navii/daily-fuel-price-india
          1. V
            Jun 20, 2017 at 9:55 pm
            can you let me the api? Please send me at vishwadh
          2. K
            Kiran Harshe
            Jun 16, 2017 at 4:10 pm
            I down loaded app as indicated fuel IOC it is not showing current fuel price. are petrol companies fooling public?
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