Petrol prices edged higher for a second day while diesel notched its ninth straight session of gains on Friday. Petrol and diesel rates were at Rs 76.18 a litre and Rs 68.02 per litre, respectively in Mumbai.
According to the Indian Oil Corp data, petrol prices in New Delhi, Kolkata and Chennai were at Rs 70.55 per litre, Rs 72.65 per litre and Rs 73.23 per litre, respectively, while diesel stood at Rs 64.97 a litre in New Delhi, Rs 66.74 a litre in Kolkata and Rs 68.62 a litre in Chennai.
India's wholesale price index (WPI) based inflation fell to 3.80 percent in December 2018 as against 4.64 percent in November 2018, helped by a smaller increase in food and fuel prices, government data showed on Monday.
Data released by the government showed fuel and power inflation slumped to 8.38 percent as against 16.28 percent in November 2018. This was on account of lowering reduction in petrol and diesel prices since December.
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.
Retail pump price is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.
(With inputs from agencies)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Why Priyanka Gandhi Vadra chose bypoll over poll
Jun 19, 2024 1:15 PM
Priyanka Gandhi — Congress strategist, campaigner, crisis manager, says expert
Jun 18, 2024 8:22 PM
EVM row: Meet Ravindra Waikar, Shiv Sena MP at the centre of controversy
Jun 17, 2024 1:26 PM
EVM unlocking controversy in Mumbai North West Lok Sabha seat — What we know so far
Jun 17, 2024 10:25 AM