Nagaland:Across the state petrol price of per litre increased by 0.26 paise , while price of disel per litre become more expensive costing 0.29 paise .
Petrol price nearing Rs 99 per litre in Nagaland Tuensang District as record surge in fuel prices sustained with oil marketing companies (OMCs) revising the fuel prices after a days week.
As per report , petrol deal at Rs.98.73 Per Litre in Tuensang while a litre of diesel deal for Rs 92.57 per litre on Friday.
Petrol price balanced at Rs.98 per litre in 5 districts Kiphire, Noklak,Mon,Phek and Zunheboto.
Except in Dimapur the petrol price was Rs .99.17, meanwhile by Friday the petrol price of Xtra Premium Petrol wherever it was available has crossed Rs. 100 per litre.
Fuel in Nagaland is costliest in Tuensang and cheapest in commercial capital Dimapur.
Per litre of diesel and petrol were retailing at Rs.95.61 and Rs.89.81 respectively in Dimapur.
Fuel prices have been hiked 10 times this month till June 18th , it remained unchanged for 8 days.
OMCs revise petrol and diesel prices every morning benchmarking retail fuel prices to average of Global refined products ‘prices and dollar exchange .According to IOC’s ‘price buildup’ of fuel prices in Delhi ,besides global price impact on base price , retail prices are determined by price charged to dealers (based price +freight etc)excise duty , average dealer commission ,and VAT (including VAT on Dealer Comission ).
Price trends in the case of Nagaland indicated that prices of fuel in each district correspond with their proximities with Dimapur,where the IOCs Depot Terminal is located- the shorter the distance, the cheaper and vice-versa.