Diesel rates up by 50 paise from Wednesday midnight | business | Hindustan Times
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Diesel rates up by 50 paise from Wednesday midnight

business Updated: Sep 30, 2015 23:14 IST
HT Correspondent
HT Correspondent
Hindustan Times

Diesel will cost Rs 44.95 per litre with effect from Wednesday midnight as against Rs 44.45 currently, Indian Oil Corp, the nation’s largest fuel retailer, said.(HT File Photo)

Oil marketing companies on Wednesday marginally raised the retail price of diesel while keeping the price of petrol unchanged.

Indian Oil,the largest of the three oil marketing companies said late on Wednesday night that the retail selling price of diesel in Delhi would go up by Rs. 0.50 per litre from 1 October, while there will be a “corresponding price revision in other states.”

With this change, the price of diesel in Delhi would become Rs. 44.95 per litre.

The price of petrol would remain unchanged throughout the country.

“The current level of international prices and INR-USD exchange rate warrant a price increase, which is being passed on to consumers with this price revision,” Indian Oil said in a statement.

This is for the first time since May that diesel prices have been raised. Diesel price was hiked by Rs 2.71 per litre on May 16. Rates have on consecutive fortnights declined.

At the last revision on September 1, petrol price was cut by Rs 2 per litre and diesel by 50 paise.

A litre of petrol in Delhi currently costs Rs 61.20.

State-owned fuel retailers -- Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp
(HPCL) -- revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.

(With PTI inputs)