DIMAPUR, JUN 27 (NPN) : Petrol price breached the Rs 100 per litre mark in Tuensang and Kiphire after state-owned oil marketing companies (OMCs) increased the prices of petrol and diesel for the second consecutive day on Sunday.
The price of petrol was hiked by 35 paise per litre and diesel by 25 paise per litre. According to IOCL website, price of xtrapremium petrol in Tuensang and Mon has increased to Rs.103.77 per litre and Rs.103.33 per litre respectively.
The hike on Sunday is the 31st increase in prices since May 4. In 31 hikes, the price of petrol has risen by Rs 8.06 per litre and diesel by Rs 8.37 a litre.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
According to PTI report, international oil prices have climbed in recent weeks on optimism of a quick recovery in fuel demand. Brent crude soared past the USD 75 per barrel mark, the first time since April 2019.
Fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges.
Source: http://www.nagalandpost.com/petrol-price-breaches-rs-100-in-tuensang-kiphire/235609.html
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