Diesel prices were hiked by 50 paise per litre while petrol prices remained unchanged effective Saturday midnight, according to an announcement made by oil companies. The price changes exclude local sales tax or VAT.
Diesel will now cost Rs 53.67 a litre in Delhi and Rs. 60.70 in Mumbai, Rs. 58.0 in Kolkata and Rs. 57.23 in Chennai. A litre of diesel will cost Rs. 58.29 in Noida, Rs. 58.16 in Ghaziabad, Rs. 52.30 in Gurgaon and Rs 52.54 in Faridabad.
This is the 11th hike since the January 17 decision of the government to raise diesel prices in small doses and means a cumulative hike of Rs 6.62 a litre (including taxes) for consumers. Even after the current increase, oil companies said the losses on diesel stood at Rs. 9.99 a litre.
The petrol price remains unchanged. While the petrol price is market-linked and revised periodically depending on the international crude oil price, the diesel price is subsidised and the oil marketing companys (OMCs) are only allowed to hike it by a “small amount” every month.
The OMCs which review prices of diesel and petrol every fortnight had last increased the diesel price by Rs. 0.50 per litre on Oct 31, while the petrol price was cut by Rs. 1.15 a litre.