New Delhi, Mar 16 (UNI) Petrol price on Saturday increased by 7 to 8 paise while diesel rates reduced in the same range.
In the National Capital, petrol is being sold for Rs 72.63 per litre as against of Rs 72.55 on Friday while diesel costs Rs 67.15 a litre as against yesterday’s 67.22 per litre.
In Mumbai, a litre of petrol costs Rs 78.25 as against of Rs 78.17 on Friday while diesel is at Rs 70.34 per litre.
According to Indian Oil Corporation website, petrol and diesel costed Rs 74.71 and 68.94 per litre in Kolkata.
Similarly, in Chennai petrol is retailing at Rs 75.43 and diesel Rs 70.96 a litre.
In Noida, petrol is retailing at Rs 72.60 per litre and diesel costed Rs 66.26 a litre.
In Gurgaon, petrol is sold at Rs 72.06 a litre and diesel Rs 66.16 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, while earlier it used to be revised every fortnight.