Morung Express News
Dimapur | November 4
In a big relief to consumers reeling under record surge in fuel prices, petrol and diesel rates fell sharply on November 4 across the country including Nagaland, as cut in excise duty announced by the Union Government on Wednesday took effect.
Accordingly, the cost of petrol decreased by Rs 5.88 per litre across the State on November 4 and talking it prices down near October 10 level, when a litre of petrol was retailing at Rs 102.31 in Dimapur.
On November 4, the cost of petrol in Dimapur decreased to Rs 102.46 per litre from Rs 108.34 the previous day.
However, the biggest fall was seen in diesel prices which decreased by Rs 11.81 per litre across the State. The fall in diesel prices is most significant for the general price level as most commodities are carried by diesel-based vehicles.
In State capital Kohima, the cost of a litre of diesel on November 4 decreased to Rs 89.70, from the previous day high of Rs 101.50. With this, the prices fell to prevailing prices on June 11, when it was retailing at Rs 89.62.
With Thursday’s cut, a litre of diesel decreased below the psychological Rs 100-a-litre across Nagaland.
As per the database maintained by The Morung Express based on the Indian Oil Corporation Limited’s (OICL) official IndianOil One App, diesel prices crossed the Rs 100-a-litre threshold across Nagaland on October 31, when Dimapur joined the other districts in breaching the mark.
Diesel first crossed Rs 100-a-litre mark in Tuensang, Kiphire and Noklak districts on October 20.
After Thursday’s cut, however, a litre of diesel in Tuensang decreased from Rs 103.84 on November 3 to Rs 92.04 on November 4. In Nagaland, fuel rates are highest in Tuensang.
Likewise, in Kiphire and Noklak, diesel prices decreased to Rs 103.79 and Rs 103.71 on November 3 to Rs 91.99 and Rs 91.91 respectively on November 4.
Meanwhile, as reported earlier, the cost of petrol first breached Rs 100-a-litre threshold across the State on July 15, with Dimapur joining other districts to the ‘club.’ It first crossed the threshold in Kiphire and Tuensang on June 26. Other districts followed suit with subsequent hikes and Dimapur was the last to reach the mark on July 15.
The rates on the app pertain to prices in IOCL outlets, and the cost might be costlier in other PSU and private outlets or in unofficial makeshift retail stores across various locations in the State.
While the excise cut announced in November 3 by the Union Government has reduced the gain in prices of petrol in October, it was not big enough to bring it down the Rs 100 per litre mark. The retail prices of both diesel and petrol have increased by over Rs 7 per litre in the State in the month of October alone.
