A relentless increase in petrol and diesel prices by state-owned oil marketing companies (OMCs) Monday took rates of two auto fuels to record-high levels across the country.
Petrol price was increased by 29 paise per litre and diesel by 26 paise per litre. After Monday’s rate revision, petrol price in Dimapur rose to a fresh high of Rs.92.99 per litre while price of diesel surged to record-high of Rs.87.25 per litre. In the state capital Kohima, prices of petrol and diesel climbed to an all time-high of Rs. 93.94 per litre and Rs.88.02 per litre respectively. The increase in Monday is the 16th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
In 16 increases, petrol price has risen by Rs 3.83 per litre and diesel by Rs 4.42.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.