Petrol price cut by 6 to 7 p/l; diesel remains unchanged

New Delhi: Petrol prices declined by six to seven paise per litre on Saturday while diesel remained unchanged.

In the National Capital, petrol retails at Rs 71.03 per litre against yesterday's Rs 71.10 p/l while diesel costs Rs 65.96 a litre.In Mumbai, people have to shell out Rs 76.64 per litre against Rs 76.71 on Friday while diesel retails at Rs 69.11 a litre.

According to Indian Oil Corporation website, petrol and diesel cost Rs 73.11 p/litre and Rs 67.71 a litre.Similarly, in Chennai, petrol is retailing at Rs 73.72 per litre and diesel costs Rs 69.72 a litre.

In Noida, petrol is available at a price of Rs 70.79 per litre and diesel costs Rs 65.13 a litre.

In Gurugram, petrol is being sold for Rs 71.30 a litre and diesel Rs 65.21 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.(UNI)