New Delhi, Fuel prices on Thursday witnessed a hike after remaining unchanged for four days. Petrol registers an increase of 7 to 9 paise per litre while diesel prices rose by 8 to 10 paise.
In Delhi, petrol retails at Rs 73.02 per litre, an increase of 7 paise from yesterday’s 72.95 per litre while diesel costs Rs 66.54 a litre (it was sold for Rs 66.46 a litre on Wednesday).
In Mumbai, people have to shell out Rs 78.59 as against yesterday’s 78.52 per litre while diesel retails at Rs 69.65, an increase of 9 paise.
According to Indian Oil Corporation website, petrol and diesel cost Rs 75.04 p/litre and Rs 68.28 a litre. Yesterday it was sold for Rs 74.97 and Rs 68.20 a litre respectively in Kolkata.
Similarly, in Chennai, petrol is retailing at Rs 75.79 per litre and diesel costs Rs 70.26 a litre.In Noida, petrol is available at a price of Rs 72.86 per litre and diesel costs Rs 65.70 a litre.In Gurgaon, petrol is being sold for Rs 72.32 a litre and diesel Rs 65.60 per litre.
As per the country’s dynamic pricing mechanism, the domestic fuel prices depend upon International fuel prices on a 15-day average and the value of the rupee.
The price of the two fuels retailing at the petrol pumps is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.The prices are revised at 0600 hrs daily, while earlier it used to be revised every fortnight.