Diesel Bomb: Price hikes again by 45p/litre

Yet forthcoming burden of diesel price hike lead to the biggest tension for the public. Now once again Indian oil corporations increased diesel retail prices by 45 paise a litre.

The hike is of by about 1 percent with effect from midnight tonight, reports said.

The revised price of Diesel is hiked by 45 paisa, excluding VAT, it added.

In Delhi, Diesel price will go upto by 51 paisa per litre and costs Rs 48.67 per litre from Rs 48.16 presently.

Mumbaians will have to pay Rs 54.83 per litre from Rs 54.26.

The nation’s largest oil firm, Indian Oil Corp (IOC) claimed to hike price to keep in accordance with the flexibility given by the government to oil marketing companies (OMCs) to revise the diesel prices.

This is the third increase in the rate of nation’s most consumed fuel since January offering the freedom by Center to fuel retailers to raise the price of subsidised diesel by 1 U.S. cent a litre every month till their losses on the fuel sale are completely wiped out.


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