Dimapur, June 24 (MExN): Petrol in Nagaland’s Tuensang Headquarter was retailing at Rs 99.53 per litre on June 24, just one or two revision short of the psychological Rs 100-a-litre mark.
Record surge in the fuel prices continued on Thursday with oil marketing companies (OMCs) increasing the price of petrol by 0.25 paise and diesel by 0.07 per litre.
Consequently, in 3 other districts – Kiphire, Noklak, and Mon, petrol was selling above Rs 99 per litre on June 24.
Meanwhile, the cost of a litre of diesel was Rs 93.18 in Tuensang after Thursday’s hike even while it was selling above Rs 90-a-litre mark in other districts.
The price of Xtra Premium petrol, wherever available, was above Rs 100 a litre except in Dimapur where it was selling at Rs 99.97, according to IndianOil ONE app, the official app of the Indian Oil Corporation Ltd on fuel related matters.
Fuel in Nagaland is costliest in Tuensang and cheapest in commercial capital Dimapur.
On Thursday, a litre of petrol and diesel were retailing at Rs 96.41 and Rs 90.42 respectively in Dimapur.
OMCs revise petrol and diesel prices every morning benchmarking retail fuel prices to average of global refined products' prices and dollar exchange. According to IOC’s ‘price buildup’ of fuel prices in Delhi, besides global price impact on base price, retail prices are determined by price charged to dealers (based price + fright etc), excise duty, average dealer commission, and VAT (including VAT on Dealer Commission).
Price trends in the case of Nagaland indicated that prices of fuel in each district correspond with their proximities with Dimapur, where the IOC’s Depot Terminal is located – the shorter the distance, the cheaper and vice-versa.
