Morung Express News
Dimapur | October 30
Petrol and diesel prices, with the fourth straight day hike on October 30, hit yet another record, with the latter now above Rs 100-a-litre in all locations in Nagaland except Dimapur.
Petrol and diesel prices were raised by 0.34 and 0.35 paise respectively by public sector oil marketing companies (OMCs) across the state on Saturday.
With the latest hike, diesel cost increased to Rs 99.88 per litre in Dimapur, while in the rest of the state, it was hovering above the psychological Rs 100-a-litre mark.
Accordingly, a day after Kohima, Peren (Jalukie) was the latest district in Nagaland to join the ‘Rs 100-a-litre’ club on October 30.
In Tuensang, Kiphire and Noklak, where diesel prices first crossed Rs 100 per litre, it was retailing at Rs 102.89, Rs 102.86 and Rs 102.81 respectively on Saturday.
Petrol price, meanwhile, increased to Rs 110.693 per litre in Tuensang on Saturday, while in Noklak and Kiphire, it was retailing at Rs 110.61 and Rs 110.48 per litre respectively, as per the prevailing prices in Indian Oil Corporation Limited outlets on the IndianOil One app,
In Dimapur, where fuel rates are lowest in the state, a litre of petrol was going for Rs 107.30 per litre. The prices, however, might be higher in other public sector and private fuel outlets.
The retail prices of fuel are fixed by the oil OMCs on the basis of 15 days rolling average price of petrol and diesel in the international market while there is also an impact by the rupee dollar exchange rate, according to a Union oil ministry statement.
Several others factors determine the final retail prices including central and state taxes including cess, dealer’s commission, and freight charges, and as a result, prices differs across states or regions.
Meanwhile, commenting on the rising prices, the Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on October 29 that India will use whatever “margin of persuasion” it has while ‘talking to oil-producing nations to ensure that fuel prices they’re down in the country.’
According to PTI News agency, addressing the Indo-Pacific Regional Dialogue organised by the Indian Navy, Puri said: “As a minister, the government is very price sensitive. And I can tell you, with complete confidence, that we will use whatever margin of persuasion we have, bilaterally with my counterparts, or multilaterally or plurilaterally, to ensure that prices go down.”
Such measures are yet to be concertized and the daily upward revision of the fuel rates continues.
