Petrol, diesel prices go up on Sunday

Transport fuel rates continued to increase on Sunday in tandem with global crude prices, which have been rising following the implementation of output cuts by oil producers from January 1.

State-run oil marketing companies (OMCs) increased petrol prices by 13 paise per litre and diesel prices by 14-15 paise across the four metros, as per data from the Indian Oil Corporation.

Petrol price in Delhi was increased to Rs 72.07 per litre on Sunday, while in Kolkata, Mumbai and Chennai the fuel cost was Rs 77.70, Rs 74.16 and Rs 74.84, respectively.

Similarly, the price of diesel in the national capital went up to Rs 67.41 per litre. In Kolkata, Mumbai and Chennai, diesel sold at Rs 69.20, Rs 70.62 and Rs 71.24 a litre, respectively.

Petrol and diesel prices have increased by more than Rs 4 per litre as the crude rates have been rising from January onwards after a prolonged period of fall.

As petroleum products fall outside the ambit of the goods and services tax (GST) and prices vary due to local taxes.

As per the dynamic pricing mechanism, domestic fuel prices depend upon international fuel rates on a 15-day average and the value of the rupee.

--IANS

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