New Delhi, Jan 17 (IEBusiness) Fuel prices witnessed a hike on Thursday as petrol and diesel are retailing above Rs 70 and Rs 67 mark respectively in major cities across the country.
In national capital, petrol is being sold for Rs 70.47 per litre while diesel at Rs 64.78 a litre.
In Mumbai, a litre of petrol costs Rs 76.11 while diesel at Rs 67.82 per litre.
According to Indian Oil Corporation website, petrol and diesel cost Rs 72.58 and Rs 66.55 per litre respectively in Kolkata.
Similarly, in Chennai, petrol is retailing at Rs 73.15 and diesel Rs 68.42 a 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