State-run oil marketing companies reduced the retail prices of petrol and diesel on Sunday. Petrol became cheaper by 8-10 paise and diesel by over 5 paise after Sunday’s price.
After the price cut of 9 paise, in Dimapur, petrol was retailing at Rs. 70.52 a litre. Diesel became cheaper by 5 paise to Rs. 63.75 per litre. In Kohima, a litre of petrol and diesel was retailing at Rs. 71.34 and Rs. 64.38 respectively on Sunday.
In Delhi, petrol was retailing at Rs 72.52 per litre compared to Rs 72.6 on Saturday. Diesel in the national capital was retailing at Rs 65.94 a litre. Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. From June 2017, fuel prices in India are revised daily, and this is called the dynamic fuel price method.