On a day when crude oil rates spiked as much as 4% following US air strikes in Iraq, state-run fuel retailers increased the price of petrol by 10 paise and that of diesel by 15 paise a litre. Since fuel prices are directly dependent on international crude rates, it is likely that petrol and diesel prices will jump sharply in the next few days over increasing tensions in the oil-rich Middle East countries.
Since December, the price gap between petrol and diesel has widened as petrol price increased only by a few paise but diesel rate went up by over Rs.2 a litre.
After Friday’s revision, petrol price rose to Rs. 73.19 a litre in Dimapur and Rs. 73.39 a litre in Kohima. On the other hand, a litre of diesel in Dimapur and Kohima stood at Rs. 65.94 and Rs. 66.62 respectively.