New Delhi, May 11: Fuel prices reduced on Saturday as petrol became cheaper by 48 to 50 paise per litre and diesel by 19-20 paise.
In the National Capital, petrol is retailing at Rs 72.15 a litre, a 48 paise cut from Rs 72.63 a litre on Friday. Diesel became cheaper by 19 paise to Rs 66.28 compared to Rs 66.47 yesterday.
In Mumbai, petrol is retailing at Rs 77.75 per litre, 48 paise down from Friday's Rs 78.23 price while diesel at Rs 69.45 per litre. Petrol became 47 paise cheaper in Kolkata and was selling at Rs 74.21 per litre. Diesel is priced at Rs 68.04 a litre. In Chennai, petrol price is reduced by 50 paise and retailing at Rs 74.90 a litre while diesel became 20 paise cheaper and is being sold at Rs 70.06 per litre.
Petrol in Noida is being sold for Rs 71.52 per litre while diesel retailed at Rs 65.25 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 6am daily, while earlier it used to be revised every fortnight. (UNI)