Diesel price hiked by Rs.1.02 per litre
New Delhi   11-May-2013

Diesel prices were on Friday hiked by Rs1.02 per litre, the fourth increase in rates this year. State-owned oil firms, which had been mandated in January to raise prices by up to 50 paisa 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 Rs 0.90 per litre, excluding local sales tax or VAT.

The increase comes to Rs1.02 per litre in Delhi where the fuel will now cost Rs49.69 a litre compared to Rs48.67 previously, IndianOil, the nation’s largest fuel retailer, said in a press statement.