Source: IndiaOil One app
Petrol above Rs 100 a litre in 4 districts
Morung Express News
Dimapur | June 30
The cumulative increase in fuel prices ranged from Rs 3.81 to up to Rs 4.19 per litre during the month of June, with the cost of petrol crossing the psychological Rs 100 a litre mark in 4 districts.
Database maintained by The Morung Express based on official data informed that petrol price increased by upto Rs 4.19 per litre in June while the cumulative increase in diesel price this month was upto Rs 3.82. It represents over 4% increase in prices during the month of June.
For instance, in Dimapur, where fuel is cheapest, petrol increased by Rs 4.03 this month from Rs 93.24 on June 1 to 97.43 on June 20. Diesel price increased from Rs 87.48 per litre to Rs 91.30 (or by Rs 3.82) during the same period.
In Tuensang, where fuel is costliest, petrol increased from Rs 96.36 a litre on June 1 to Rs 100.55 on June 30 or Rs 4.19 commutatively. Diesel also increased by Rs 3.81 a litre this month – from Rs 90.25 on June 1 to Rs 94.06 on June 30.
As per the database based on IndianOil One app, in June fuel prices increased on 16 days while remaining unchanged for 14 days.
Meanwhile, petrol prices breached the psychological Rs 100-a-litre mark in Kiphere and Tuensang on June 27, while it crossed the threshold on June 29 in Noklak and Mon districts.
On June 30, in five other districts, petrol prices were above Rs 99 a litre.
Oil marketing companies (OMCs) revise petrol and diesel prices every morning benchmarking retail fuel prices to average of global refined products' prices and dollar exchange. According to IOC’s ‘price buildup’ of fuel prices in Delhi, besides global price impact on base price, retail prices are determined by price charged to dealers (based price + fright etc), excise duty, average dealer commission, and VAT (including VAT on Dealer Commission).
Officials in oil companies put the consistent increase in fuel prices to development in global oil markets where both product and crude price have been firming up for past couple of months on demand rise amidst slowing of pandemic. However, closer look at fuel retail prices in India gives a picture that it is high level of taxes that is keeping fuel rate higher even in times when global oil prices are firm, IANS news agency reported on June 30.
