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Petrol prices fall after 6 day rally, diesel rises across metros

Petrol prices fall after 6-day rally, diesel rises across metros

Petrol prices fall after 6-day rally, diesel rises across metros
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By CNBC-TV18 Jan 16, 2019 8:18:08 AM IST (Published)

After rising for six straight days, petrol prices across major cities slipped while diesel rates edged higher on Wednesday. Petrol and diesel rates were at Rs 75.97 a litre and Rs 67.62 per litre, respectively in Mumbai.

After rising for six straight days, petrol prices across major cities slipped while diesel rates edged higher on Wednesday. Petrol and diesel rates were at Rs 75.97 a litre and Rs 67.62 per litre, respectively in Mumbai.

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According to the Indian Oil Corp data, petrol prices in New Delhi, Kolkata and Chennai were at Rs 70.33 per litre, Rs 72.44 per litre and Rs 73 per litre, respectively, while diesel stood at Rs 64.59 a litre in New Delhi, Rs 66.36 a litre in Kolkata and Rs 68.22 a litre in Chennai.
India's wholesale price index (WPI) based inflation fell to 3.80 percent in December 2018 as against 4.64 percent in November 2018, helped by a smaller increase in food and fuel prices, government data showed on Monday.
Data released by the government showed fuel and power inflation slumped to 8.38 percent as against 16.28 percent in November 2018. This was on account of lowering reduction in petrol and diesel prices since December.
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.
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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