Fuel prices go up, up; petrol crosses Rs 105 in Thiruvananthapuram
Thiruvananthapuram: The petroleum companies increased the fuel prices by 37 paise for diesel and 30 paise for petrol on Wednesday morning. The diesel price in Thiruvananthapuram is nearing Rs. 100 per litre.
The petrol price in Thiruvananthapuram crossed Rs 105 per litre. Diesel price stands at Rs. 98.53/L.
The prices were increased on Tuesday, Sunday and Friday by around 30 paise for petrol and diesel. The new prices come into effect from 6 a.m.
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised on a daily basis.
The daily review and revision of prices are based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
But, the fluctuations in global oil prices have prevented the oil marketing companies to follow this formula in totality and revisions are now being made with longer gaps.
(With inputs from agencies)