Fuel prices fall by paise 16 to 17 per litre for second consecutive day on Friday

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New Delhi, Jun 14 (UNI) Fuel prices fell on Friday for the second consecutive day, as petrol slipped by 17 paise per litre and diesel by 16 p/l, across major cities of the India.

In Delhi petrol price retailed at Rs 70.18 per litre, as against yesterday’s Rs 70.35, while diesel costs Rs 64.17, against Thursday’s 64.33 per litre.

In Mumbai, people had to shell out Rs 75.88 per litre for petrol, which was Rs 76.04 on Thursday. Diesel price retailed at Rs 67.28 per litre against Rs 67.45 a litre on Thursday.

According to the Indian Oil Corporation, petrol was at Rs 72.44 per litre in Kolkata, a 17 paise decrease from yesterday’s Rs 72.61 a litre, while diesel costs Rs 66.09 per litre.

In Chennai, petrol retailed at Rs 72.90 per litre against yesterday’s Rs 73.08 a litre, while diesel cost Rs 67.88 per litre against Rs 68.05 on Thursday.

In Noida petrol price was available at a price of Rs 70.13 per litre (Rs 70.27 p/l on Thursday) and diesel cost Rs 63.61 per litre, while on Thursday, it was Rs 63.74 p/l.

In Gurugram, petrol was priced at Rs 70.66 a litre and diesel cost Rs 63.70 per litre.

As per the country’s dynamic pricing mechanism, the Indian fuel prices depend upon International fuel prices on a 15-day average and the value of the rupee.

The price of the two fuels retailing at the petrol pumps is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.

The prices are revised at 0600 hrs daily, while earlier they used to be revised every fortnight.

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