Petrol prices dip by 5 p/l; diesel gets dearer

New Delhi, Apr 16: Petrol reduced by 5 paise per litre after two days of consecutive rise in prices while diesel gets dearer by 5 paise per litre across major cities of the country on Tuesday.

In Delhi, petrol retails at Rs 72.93 per litre as against Monday's Rs 72.98 p/l while diesel costs Rs 66.31 a litre. On Monday it retailed at Rs 66.26 p/l.In Mumbai, people have to shell out Rs 78.50 per litre, a five paise decrease from Monday while diesel retails at Rs 69.40 per litre, a five increase

According to Indian Oil Corporation website, petrol and diesel cost Rs 74.95 and Rs 68.05 a litre in Kolkata.Yesterday petrol was at Rs 75 and diesel at Rs 68 in this eastern part of the country.

Similarly, in Chennai, petrol is retailing at Rs 75.69 per litre (Rs 75.75 p/l on Monday) and diesel costs Rs 70.01 a litre (Rs 69.96 p/l).In Noida, petrol comes at a price of Rs 72.79 per litre and diesel costs Rs 65.51 a litre.

In Gurgaon, petrol is being sold for Rs 72.25 a litre (Rs 72.29 p/l) and diesel Rs 65.40 per litre.

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 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 it used to be revised every fortnight.