A fuel dispenser machine showing price of petrol on October 3 at an outlet in 4th Mile, Dimapur. (Inset) Petrol and diesel prices in Indian oil outlets in districts headquarters/major town across Nagaland as per IndianOil ONE app. (Morung Photo)
Morung Express News
Dimapur | October 3
Petrol and diesel prices surged to new record highs in Nagaland and across India as oil marketing companies revised the prices upward for fourth day in a row October 3.
Accordingly, prices of petrol in Dimapur, where fuel is cheapest, increased to Rs 100.90 a litre on Sunday from Rs 100.65 on Saturday.
Likewise, a litre of diesel was selling at a record Rs 92.89 on Sunday in Dimapur.
In Tuensang, where fuel is costliest, a litre of petrol was retailing for Rs 104.28 on October 3, while diesel was going for Rs 95.90 a litre.
There has been a continuous rise in fuel prices in recent times, after remaining steady for long period since July 17 when petrol and diesel prices respectively reached record Rs 103.48 and Rs 94.76.
Records maintained by The Morung Express based on IndianOil ONE app informed that there were amrginal fall in prices between July 17 and last week of September, but the prices have been increasing since then.
With upward revision of prices for four consecutive days, the gain from previous cuts have already been ‘recovered’ and fuel prices continue to break record with each new hike.
According to IANS news agency, there is continued surge in petrol and diesel prices amid the volatility in global oil prices with benchmark crude remaining at a high level of over $ 79 a barrel.
In Delhi, diesel price has now increased on eight days in the last 10 days taking up its retail price by Rs 2.15 per litre in Delhi, while petrol price has also risen on five of the previous six days, it added.
As per the Union Ministry of Petroleum and Gas, while the retail prices of fuel are fixed by the 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.
