Fuel prices rise after 29 days

DIMAPUR, JAN 6 (NPN) | Publish Date: 1/6/2021 12:26:20 PM IST

State-owned oil marketing companies Wednesday increased the prices of petrol and diesel after 29-day hiatus. 

In the national capital, the retail price of petrol and diesel increased by 26 paise and 25 paise per litre to Rs 83.97 and Rs 74.12 a litre respectively on Wednesday.

After today’s rate revision, petrol price in Dimapur rose to Rs. 86.34 per litre while diesel price increased to Rs.77.32.

In the state capital Kohima, price of petrol was hiked to Rs.87.31 and diesel price was raised to Rs.78.01 per litre.

With Wednesday’s increase, fuel prices have now increased on 16 of the past 47 days with petrol prices rising by Rs 2.91 per litre and diesel by 3.66 a litre.

Though retail pricing of petrol and diesel has been deregulated and oil marketing companies were following a daily price revision formula, the same was suspended for almost two months to prevent volatility in the international oil markets from impacting fuel prices regularly during the pandemic.

Rates vary from state to state depending on the incidence of local sales tax or VAT.

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