The petroleum companies increased the fuel prices by 32 paise for diesel and 25 paise for petrol on Tuesday morning. The diesel price in Thiruvananthapuram is nearing Rs. 100 per litre.
The prices were increased on Sunday and Friday by around 30 paise for petrol and 25 paise for diesel. The new prices come into effect from 6 a.m.
Petrol: Rs. 102.85/L; Diesel: Rs. 90.08/L
Petrol: Rs. 104.91; Diesel: Rs. 98.04
Petrol: Rs. 103.16; Diesel: Rs. 96.37
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)