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Petrol prices stable at Rs 75.96/ litre in Mumbai, diesel drops to Rs 67.38/litre

Petrol prices stable at Rs 75.96/ litre in Mumbai, diesel drops to Rs 67.38/litre

Petrol prices stable at Rs 75.96/ litre in Mumbai, diesel drops to Rs 67.38/litre
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By CNBC-TV18 Dec 17, 2018 8:31:06 AM IST (Published)

The petrol prices in four metro cities — Kolkata, New Delhi, Mumbai and Chennai — remained unchanged on Monday after rising over the weekend.

The petrol prices in four metro cities — Kolkata, New Delhi, Mumbai and Chennai — remained unchanged on Monday after rising over the weekend.

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The diesel prices were cut for the third consecutive day in the four cities. In Mumbai, the diesel was priced at Rs 67.38 per litre while the petrol price was stable at Rs 75.96 per litre.
According to the Indian Oil Corp data, petrol prices in Kolkata, New Delhi and Chennai were at Rs 72.43 per litre, Rs 70.34 per litre and Rs 72.99 per litre, respectively, while diesel stood at Rs 66.14  a litre in Kolkata, Rs 64.38 a litre in New Delhi and Rs 67.97 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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