Monday, 1 July 2013

Diesel prices hiked by 50 paise per litre


Oil companies on Monday hiked the price of diesel by 50 paise per litre, effective from midnight as the hike is excluding value added taxes (VAT).
 Public face  the sixth hike in diesel prices since January when the government permitted state-run oil companies to hike the price of the fuel by 45-50 paise per litre per month till the losses incurred on the sale of the fuel below market rates are wiped out.

Oil firms are currently losing around Rs. 5.50 on the sale of every litre of diesel.

Diesel prices were last increased May 31, by 50 paise.

Along with diesel, the government sells cooking gas (LPG) and kerosene at subsidized rates, and compensates the oil firms for selling the fuels at lower prices.
Diesel in Delhi will cost Rs 50.84 per litre from tomorrow as against Rs 50.26 currently.
Oil firms on Saturday hiked petrol price by Rs 1.82 per litre, excluding VAT, as rupee depreciation made import of raw material (crude oil) costlier.

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