Here's how you verify the price

The last of such revision was announced on Thursday when petrol price was reduced by Rs 1.12 per litre, excluding state levies (VAT), and diesel by Rs 1.24 a litre, said Indian Oil Corp, the nation's largest fuel retailer.

The price changes in petrol and diesel will likely change by a few paisa per litre based on the price of oil in the global market and changes in foreign exchange rates.

For Indian Oil, customers can verify fuel prices by sending SMS: RSP SPACE DEALER CODE to 9224992249.

Petroleum minister Dharmendra Pradhan said in a tweet on Friday, "Proud to share that India is first country to switch to dynamic fuel pricing on such a scale in one go".

From Friday onwards, Petrol and Diesel prices will be revised every day.

The daily revision of retail selling prices (RSP), or the dynamic fuel pricing, began in Udaipur, Jamshedpur, Visakhapatnam, Chandigarh and Puducherry on May 1 as part of the pilot phase. HPCL posted 31 per cent YoY rise in bottoline figures for the quarter under review, while net profit of BPCL declined 12.97 per cent YoY.

Prices will be communicated to the customers through SMSes, mobile app etc.

CNG price could change too: In the days ahead, it may not just be diesel and petrol prices that see a daily price change. Visit the Indian oil website, use the RO Locator tool to locate the Indian Oil retail outlet based on the location. It was decided that the price of petrol and diesel will be revised from 6 a.m. every day'. This mobile application by Indian Oil is available on both Google Play and Apple Store, for Android and iPhone smartphone users respectively.

The website displays prices of various products sold. Every petrol pump will also have its dealer's code prominently displayed so that consumers can verify the prices through SMS.

Indian Oil has set up a customer care helpline 1800-2333-555 to lodge grievances related to daily price revision. In Nashik district, there are as many as 350 petrol pumps, including 74 pumps in the city.

  • Zachary Reyes