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Petrol prices inch lower, diesel rates remain steady

Petrol prices inch lower, diesel rates remain steady

Petrol prices inch lower, diesel rates remain steady
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By CNBC-TV18 Feb 2, 2019 8:44:41 AM IST (Published)

According to the Indian Oil Corp data, petrol prices in New Delhi, Kolkata and Chennai were at Rs 70.84 per litre, Rs 72.94 per litre and Rs 73.54 per litre, respectively, while diesel prices stood at Rs 65.71 a litre in New Delhi, Rs 67.49 a litre in Kolkata and Rs 69.41 a litre in Chennai.

Petrol prices edged lower by 10 paise across major cities, while diesel prices remained unchanged for the second straight day on Saturday. In Mumbai, petrol and diesel prices were at Rs 76.47 a litre and Rs 68.81 per litre, respectively, according to the Indian Oil Corp data.

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In New Delhi, petrol was sold at Rs 70.84 per litre, and diesel at Rs 65.71 a litre. In Kolkata and Chennai, petrol rates were at Rs 72.94 per litre and Rs 73.54 per litre, respectively, while diesel prices stood at Rs 67.49 a litre and Rs 69.41, respectively.
Transport fuel rates were hiked sharply on January 13 as global crude oil rates continued to climb handsomely following the implementation of output cuts by global oil producers from January 1.

Mirroring the rise, state-run oil marketing companies increased petrol rates by 23 paise per litre while diesel prices went up by 29-31 paise across the four major metros.

Petrol and diesel prices have increased by more than Rs 2 per litre each in January.
The sixth and last budget of the Narendra Modi-led government was unveiled by finance minister Piyush Goyal on Friday which would stimulate demand and boost economic growth, with a slew of sops for the middle class, farmers and workers in unorganised sector leading to more disposable income in their hands.
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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