Consumers feel the pinch
Morung Express News
Dimapur | October 9
The price of every item would increase, said a fuel outlet attendant in 5th Mile on October 9, somewhat uncomfortable that he had to fill customers’ vehicles each day with new prices.
His discomfiture was understandable. The fuel rates were hiked for fifth straight day on Saturday, pushing the prices of diesel and petrol to new record highs.
Accordingly, in three districts of Nagaland, diesel prices were hovering near Rs 98 a litre on Saturday, with Tuensang leading at Rs 97.62; followed by Kiphire (Rs 97.59) and Noklak (Rs 97.54).
In Indian oil outlets in the State capital Kohima, diesel was retailing at Rs 95.41 per litre, as per the information on per the IndianOil ONE app.
If the recent trend continues, by next week, the diesel prices would breached the psychological Rs 100-a-litre mark by next week.
In Dimapur, where fuel is cheapest in Nagaland, a litre of diesel was retailing at Rs 94.61.
The hikes in prices have hurt the consumers directly and indirectly. While impact on other prices is the indirect effects, those filling their vehicles at the outlet are also feeling the pinch directly at the outlets.
Now, we get just around 5 litres and something for Rs 500, what can we do, opined an auto driver filing his vehicle (diesel). He further postulated that the government was driving out oil guzzling vehicles for ‘good’ cars, which a common person cannot afford.
Meanwhile, the cost of petrol, which first crossed the Rs 100-a litre mark on June 26 in Tuensang and Kiphire were retailing respectively at Rs 105.70 and Rs 105.59 per litre on October 9.
In Dimapur, the last district to breach the Rs 100 mark on July 15, it was selling for Rs 102.31.
Fuel prices, which were rising continuously till July 17 this year, pause 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 record maintained by The Morung Express based on IndianOil ONE app.
The PTI news agency reported that Mumbai on Saturday became the first metro city in the country to see diesel prices cross the Rs 100 per litre mark. Recent hikes are attributed to volatility in the global oil rates.
As per the Union Ministry of Petroleum and Gas, 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.
