Millennium Post

Diesel to cost Rs. 1 more

Diesel prices were hiked by Rs. 1.00 per litre in Delhi on Friday, the fourth increase in rates this year.

State-owned oil firms, which had been mandated in January to raise prices by up to 50 paise per litre every month till entire losses on the fuel are wiped out, skipped raising rates in April to avoid troubles for the government during the second half of budget session of Parliament.

The companies have made up for skipping the April revision by increasing rates by 90 paise per litre, excluding local sales tax or VAT.

The increase comes to Rs. 1.02 per litre in Delhi where the fuel will now cost Rs. 49.69 a litre compared to Rs. 48.67 previously, Indian Oil Corp, the nation’s largest fuel retailer, said in a press statement.

In Mumbai, diesel will cost Rs. 1.12 more at Rs. 56.04 a litre, while in Kolkata it will cost Rs. 53.97 per litre from Saturday as compared to Rs. 52.91 at present. In Chennai, the price has been raised by Rs. 1.10 to Rs. 52.92.  Diesel prices were last hiked on 23 March, by 45 paise excluding VAT.


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