Polls over, fuel prices hiked

DIMAPUR, MAY 4 (NPN): | Publish Date: 5/4/2021 2:53:32 PM IST

 On the expected lines, oil companies did not wait long post declaration of state election results to raise the price of auto fuels -- petrol and diesel across the country, reports IANS news agency.

Accordingly, the petrol and diesel prices increased by 15 paise and 18 paise per litre to Rs 90.55 and Rs 80.91 per litre respectively on Tuesday in Delhi.

Across the country as well the petrol and diesel prices increased on Tuesday but its quantum varied depending on the level of local levies in respective states.

After Tuesday’s rate revision, petrol price in Dimapur rose to Rs.89.57 per litre while diesel price climbed to Rs.83.14 per litre.

In the state capital Kohima, petrol price surged to Rs.90.52 per litre and diesel price increased to Rs.83.90 per litre. With global crude prices at over $ 67 a barrel mark, OMCs may revise fuel prices upwards again if there is any further firming up.

OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate. OMCs align the rates of domestic fuel with the global crude oil prices by taking into account changes in the foreign exchange rates. The new changes in fuel prices are implemented with effect from 6 a.m. each day.

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