Morung Express News
Dimapur | October 24
The record breaking spree of fuel prices continued on October 24 with the 5th straight day hike across India and Nagaland.
Data available on the IndianOil One App informed that petrol prices were hiked by 33-34 paise per litre across Nagaland on Sunday, while diesel prices were raised by 35-36 paise in the public sector Indian Oil Corporation Limited’s (IOCL) outlets.
With Sunday’s hike, petrol was available for Rs 109.33 per litre in Tuensang town while diesel was retailing at Rs 101.48.
Fuel rates are highest in Tuensang district in Nagaland, followed by Kiphire where a litre of petrol and diesel were available for Rs 109.25 and Rs 101.46 respectively on Sunday.
As noted earlier, so far diesel prices have crossed the Rs 100-a-litre in 8 out of 12 districts in Nagaland and on October 24, it was available below the threshold in Wokha, Kohima, Peren Dimapur.
In Dimapur, where fuel is ‘cheapest,’ a litre of petrol was retailing at Rs 105.94 on Sunday. The cost of diesel also increased to Rs 98.47 in Dimapur city on October 24.
In a private-owned Reliance outlet in Dimapur, petrol was selling just above Rs 106 a litre and diesel at Rs 98.52 on Sunday.
It must be noted here that the prices reflected in IOCL’s app pertains to prevailing prices in its outlets. The prices may be higher in informal and other outlets.
In many towns, sub-division headquarters and other locations in the State, fuels are sold in informal outlets, usually higher than prices prevailing at official retail outlets of oil companies.
Meanwhile, the IANS news agency reported on October 24 that diesel prices have increased on 24 out of the last 30 days taking up its retail price by Rs 7.80 per litre in Delhi.
Petrol prices have also risen on 21 of the previous 26 days taking up its pump price by Rs 6.40 per litre, the agency reported.
According to IOCL, daily price changes for petrol and diesel are effected at 6:00 am every day.
The retail prices of fuel are fixed by the oil marketing companies (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.
Apart from this, the ‘Price Buildup’ of fuel available on IOCL’s website informed that the overall components of retail prices of diesel and petrol include base price, central excise duty, value added tax (including VAT on dealer commission), dealer commission, and freight etc.
Accordingly, prices may vary across the regions and from outlet to outlet.
