Daily revision in petrol, diesel prices' nears to reality; here's what you can do

Key Highlights: 

• Daily revision in petrol and fuel prices starts from morning 6 am of June 16, 2017
• Customers can know the daily price change through IOC's Fuel@IOC app
• Dealers can schedule the price change at 20.00 Hrs through automated ROs

India is just one day away from seeing daily revision in petrol and diesel prices which is going to start from June 16, 2017.

To ensure convenience to dealers and customers, the Indian Oil Corporation Limited (IOCL) has brought in few measures on how to check daily change in petrol and diesel prices.

IOC has stepped up efforts to provide information on daily price revisions through various means like LED screens at petrol pumps, toll-free number, social media posts, price revision alert on app as well as SMS facility.

Also every petrol pump will now have its dealer's code prominently displayed allowing customers to verify prices through SMS.

Customers may verify fuel prices by sending SMS: RSP < SPACE > DEALER CODE to 9224992249. Alternatively they can download the Fuel@IOC App and locate the petrol pump to verify prices OR log on to IOCL's official website.

Fuel@IOC is a mobile application for fuel customers of Indian Oil. It is available on GooglePlay. 

This application has features like RO Locator – which helps customers to locate your petrol pumps, E Bills providing track of your fuel purchases, track of your loyalty transactions, link to other IOC applications and also tracks your grievances.

Sanjiv Singh, Chairman of Indian Oil along with BS Canth Marketing Director in its video conference on June 13, said, "Daily price change with retail outlet dealers of 11 states, viz., Rajasthan, Punjab, Delhi, Gujarat, Maharashtra, Tamil Nadu, Telangana & Andhra Pradesh, Karnataka, West Bengal and Bihar. They also received firsthand feedback from dealers of five pilot cities where daily pricing implemented with effects from May 1, 2017 is in progress."

The duo added, "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."

Prices are communicated to dealers by 4 modes like customized SMSs, e-mails, mobile app & web portal for dealers. These means of communication are also available to dealers of automated petrol pumps. 

All Indian oil dealers in case of automated ROs can schedule the price change at 20.00 Hrs for price change to take effect at 00.00 Hrs.

In case of non-automated ROs, manual change of price has to be done. Retail Outlets operating during the night have already employed manpower.

Out of Indian Oil’s 109 Retail outlets in the 5 cities where daily pricing was introduced, at 75% of the Retail Outlets, price change was being done effectively through the automation system.