Petrol and diesel prices were slashed on Thursday across all major cities in the range of 10-11 paise with petrol is retailing at Rs 71.09 per litre, while diesel can be availed at Rs 65.81 a litre in New Delhi. In Mumbai, petrol and diesel are retailing at Rs 76.72 a litre and Rs 68.91 per litre, respectively, according to data available on the website of the Indian Oil Corporation.
In Kolkata and Chennai, petrol is priced at Rs 73.18 per litre and Rs 73.80 per litre, respectively. On the other side, diesel is being sold Rs 67.59 a litre in Kolkata and Rs 69.52 per litre in Chennai. The revised prices came into effect from 6 am on January 31, 2019. Petrol and diesel prices in Delhi are the cheapest among all metro cities.
As per the country’s dynamic pricing mechanism, the domestic fuel prices depend upon global fuel prices on a 15-day average and also on the value of the rupee. Retail pump prices are calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.
The prices of petrol and diesel have been declining since October 2018, more than negating all of the increase that was witnessed in the two-month period beginning mid-August, 2018.
Checking fuel latest rates in your city
To get the latest indicative petrol and diesel prices in any city, a customer can log into the IOCL app on mobile. Or, a customer can SMS “RSP Dealer Code of Petrol Pump” to 92249 92249.