State-run oil marketing companies decreased prices of petrol and diesel for the third consecutive day Saturday.
Across major cities of the country, petrol prices went down 9-10 paise while diesel prices witnessed a cut of 14-16 paise. In New Delhi, petrol was retailing at Rs 73.32 per litre and diesel became 14 paise cheaper and was selling at Rs 66.46 per litre.
After today revision, petrol price in Dimapur dropped to Rs 71.25 per litre and diesel was being sold at Rs. 64.24 per litre.
In the state capital, a litre of petrol and diesel was retailing at Rs. 71.77 and Rs. 64.71 respectively.
The price of petrol has been reduced by a total Rs. 1.10-1.22 per litre in the four metros so far this month, and the rate of diesel cut by 87-99 paise per litre.
Currently, oil marketing companies such as Indian Oil Corporation – the country’s largest fuel retailer – review the fuel rates every day and any changes are implemented at the fuel pumps at 6 am.
Domestic prices of fuels are determined broadly by the international crude oil rates and the foreign exchange (foreign) rate of the rupee against US dollar.