Indian Oil Corp, others revise prices of petrol & diesel as daily changes begin ; here's how you can check rates
Major oil companies like Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum have revised their prices of petrol and diesel on Friday on as part of a new system of daily price changes in petroleum products.
Highlights:1. Petrol prices in Delhi would be Rs 65.48 while in Mumbai it will be Rs 76.70
2. Diesel rates will be Rs 54.49 in Delhi and Rs 59.90 in Mumbai
3. The new rates of petrol and diesel shall be applicable from 6:00 am of June 16, Friday, to 6:00 am of June 17, Saturday
The prices of petrol and diesel were cut on Friday as part of a new system of daily price changes in petroleum products, in a shift from fortnightly price revisions, NDTV reported.
So far, three public sector unit oil marketing companies namely Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum have revised their prices on the 1st and 16th of every month based on average international crude oil and foreign exchange rates, the report said.
"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," IANS reported quoting the Indian Oil Corporation, as saying in a statement on Thursday.
"The prices declared on a daily basis shall be applicable from 6:00 am to 6:00 am the next day," it said.
The present daily price revision follows a successful experiment in five cities- Chandigarh, Jamshedpur, Puducherry, Udaipur and Vizag - where daily price change started from May 1.
After Friday's revision of oil prices, at 6:00 am, petrol prices in the four metro cities would be Rs 65.48 in Delhi, Rs 76.70 in Mumbai, Rs. 68.02 in Chennai and Rs 68.03 in Kolkata, cited the NDTV report.
ALSO READ: Daily revision: Petrol price cut by Rs 1.12 per litre, diesel by Rs 1.24
Similarly, diesel rates will be Rs 54.49 in Delhi, Rs 59.90 in Mumbai, Rs 57.41 in Chennai and Rs 56.65 in Kolkata, the report said citing Indian Oil, as saying .
The prices of the two main transportation fuels were last hiked on May 31, when petrol price was increased by Rs 1.23 per litre, while that of diesel was raised by 89 paise a litre, IANS reported.
According to the NDTV report, the country's largest fuel retailer had announced a Rs 1.12 per litre reduction in petrol, excluding state levies (VAT), and diesel by Rs1.24 a litre.
Prices in different states may vary due to local taxes and may also vary in different outlets.
As per the NDTV report, here's how how consumers can check the oil prices online:
1. Visit the Indian Oil Corporation website here
2. After checking into the website, you can use the 'RO Locator' tool to locate the Indian Oil Corporation retail outlet nearest to your residence based on your location
3. The website displays prices of various products sold
If you wish to check the rates of Indian Oil Corporation (IOC) through SMS on your mobile phone you need to send an SMS as RSP <Space> Dealer Code to 92249-92249
"The Dealer Code of each petrol pump would be prominently displayed in the petrol pump premises," NDTV said quoting IOC as saying.
Moreover, you can also check petrol and diesel prices through Indian Oil Corporation mobile app "Fuel@IOC - IndianOil", it said.
This mobile application by Indian Oil Corporation (IOC) is available on both Google Play and Apple Store, for Android and iPhone smartphone users respectively, cited the NDTV report.
ALSO READ: Pilot project a success, now petrol and diesel prices set to change every day
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
11:01 AM IST