Diesel to cost 50 paise more per litre
New Delhi: Diesel will become costlier by 50 paise per litre excluding taxes from Monday midnight, the country's largest oil marketing company Indian Oil Corp (IOC) said. The company said despite the increase, marketing firms would continue to incur Rs 8.10 loss on sale of each litre of diesel.
"Under-recovery on sale of retail HSD (high speed diesel) has been steadily increasing mainly due to depreciation in rupee coupled with increasing international prices. Even after the aforesaid increase, there shall still be an under-recovery on retail HSD of Rs 8.10 per litre," government-run IOC said in a statement.
Allowing for local taxes, the new price of diesel per litre will be Rs 50.26 in Delhi, Rs 54.57 in Kolkata, Rs 56.99 in Mumbai, Rs 53.54 in Chennai, Rs 54.79 in Hyderabad and Rs 54.80 in Bangalore. IOC last hiked diesel rates May 30 by 50 paise per litre, and of petrol by 75 paise, mainly due to depreciation of the rupee against the US dollar.