Fuel prices surge to record-high levels

October 11, 2021 39 Views No Comment

DIMAPUR, OCT 11 (NPN) : Petrol and diesel prices rose again on Sunday for the sixth consecutive day, hitting a fresh record high.

According to a price notification of state-owned fuel retailers, petrol price was hiked by 30 paise per litre and diesel by 35 paise a litre. After the price revision, petrol has become costlier at Rs.103.60 a litre in the state capital Kohima while in Dimapur its was Rs. 102.60. Diesel is being sold at Rs. 95.77 a litre in Kohima and in Dimapur Rs.94.96 a litre.

A litre of petrol and diesel in Kiphire was the highest in the state at Rs. 106.09 and Rs. 98.18 respectively followed by Tuensang– petrol at Rs. 105.99 a litre and diesel at Rs. 97.97 per litre. (See table)

The price of petrol in Delhi rose to its highest-ever level of Rs 104.14 a litre and Rs 110.12 per litre in Mumbai, the notification showed. In Mumbai, diesel now comes for Rs 100.66 a litre; while in Delhi, it costs Rs 92.82. Prices differ from state to state depending on the incidence of local taxes.

State-owned fuel merchants have begun passing on the higher incidence of cost to consumers starting Wednesday, abandoning the mild price change strategy.

The price of petrol has risen by 30 paise per litre for four days in a row, while diesel has risen by 35 paise, the largest rate increase in history.

Because the international benchmark Brent crude has risen to over USD 82 a barrel as a result of OPEC’s resolution not to increase output by more than 0.4 million barrels per day, fuel prices have risen by a larger percentage.

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates.

Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

Source: http://www.nagalandpost.com/fuel-prices-surge-to-record-high-levels/242087.html