Fuel gets cheaper; petrol reduces upto 5 paise/l
In Mumbai, a litre of petrol costs Rs 78. 04 as against of Rs 78.09 on Monday while diesel is at Rs 70.58 per litre as on Monday it costs Rs 70.65 per litre.
According to Indian Oil Corporation website, petrol and diesel cost Rs 74.49 and 69. 16 per litre in Kolkata. Similarly, in Chennai petrol is retailing at Rs 75.20 and diesel Rs 71. 20 a litre.
In Noida, petrol is retailing at Rs 72.42 per litre and diesel costs Rs 66.45.In Gurgaon, petrol is at Rs 66.35 a litre and diesel Rs 66.35 per litre.
As per the country’s dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.
The price of the two fuels retailing at the petrol pumps is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.The prices are revised at 0600 hrs daily, earlier it used to be revised every fortnight.