Delhi HC dismisses petition seeking formula to determine fuel prices

New Delhi Delhi High Court on Wednesday dismissed a petition seeking records from the oil companies about the rationale behind fuel pricing

The plea sought details of the formula used by oil marketing companies to determine the prices of petrol, diesel and also sought to know if the hike is wrongfully benefitting them.

The petition was filed on Tuesday challenging the daily surge in fuel price and seeking a direction to the Centre to fix a fair price of the same.

Fuel prices witnessed another hike today with petrol being sold at Rs 82.25 per litre and diesel costing Rs. 73.87 per litre in the national capital. While in Mumbai petrol is being sold at Rs 89.63.

The Union Government has been facing flak over the past few weeks for not curning the rising prices.

The Centre, however, has maintained that external factors, including a rise in international crude oil prices, are influencing domestic fuel prices.