Fuel prices remained unchanged in three metro cities — Mumbai, New Delhi and Chennai on Thursday. However, petrol and diesel prices increased by Re 1 each in Kolkata to Rs 73.28 and Rs 67.40 per litre, respectively.
According to the Indian Oil Corp data, petrol prices in Mumbai, New Delhi and Chennai were at Rs 75.80 per litre, Rs 70.20 per litre and Rs 72.82 per litre, respectively, while diesel stood at Rs 67.66 a litre in Mumbai, Rs 64.66 a litre in New Delhi and Rs 68.26 a litre in Chennai.
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 slide in domestic fuel prices comes in line with the recent decline in crude oil prices due to high supplies.
India's fuel demand fell 1.8 percent in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totaled 17.27 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Retail pump price is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.
(With inputs from agencies)
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First Published: IST