Morung Express News
Dimapur | October 17
With fuel rates increasing for the fourth consecutive day, diesel prices neared the psychological Rs 100-a-litre mark in three districts of Nagaland on October 17.
With this, a litre of diesel was selling for Rs 99.73 in Tuensang, Rs 99.70 in Kiphire and Rs 99.65 in Noklak, just one revision away from the Rs 100 threshold on Sunday, as per the prices fuel in Indian Oil Corporation Limited (IOCL) outlets across Nagaland on IndianOil One App.
In Mon and Phek districts, the prices were above Rs 99 a litre while in four districts, diesel was above Rs 98 a litre on October 17.
In State capital Kohima, it was Rs 97.52 per litre while diesel was ‘cheapest’ in Dimapur on Sunday at Rs 96.72.
Meanwhile, the record breaking surge in prices of petrol continue unabated on Sunday with Tuensang and Kiphire leading the price list respectively with Rs 107.64 and Rs 107.56 a litre.
According to PTI news agency, the fourth straight day of hike of 35 paise per litre on October 17 sent petrol and diesel rates to record highs across the country.
“Since ending of a three-week long hiatus in rate revision in the last week of September, this is the 16th increase in petrol price and the 19th time that diesel rates have gone up,” it said.
“State-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers. This is because the international benchmark Brent crude is trading at USD 84.8 per barrel for the first time in seven years,” it added.
It must be noted here that a litre of petrol first crossed the Rs 100-a litre mark on June 26 in Tuensang and Kiphire, while Dimapur was the last district to breach the mark on July 15.
Fuel prices, which were rising continuously till July 17 this year, paused thereafter for a long period, but started the upward trend again in the last week of September. In the intervening period, prices of fuel decreased marginally in Nagaland as per records maintained by The Morung Express based on IndianOil One App.
As per the Union Ministry of Petroleum and Gas, while the retail prices of fuel are fixed by the oil marketing companies (OMCs) on the basis of 15 days rolling average price of petrol and diesel in the international market while there is also an impact by the rupee dollar exchange rate.
Several others factors determine the final retail prices including central and state taxes including cess, dealer’s commission, and freight charges, and as a result, prices differs across states or regions.
The price differences across Nagaland can also be attributed to these factors.
