New Delhi: The diesel price will go up by 50 paise a litre, excluding taxes, from midnight, Indian Oil Corporation said.
Allowing for local taxes, the prices per litre of diesel will be Rs53.67 in Delhi, Rs58.08 in Kolkata, Rs60.70 in Mumbai and Rs57.23 in Chennai.
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 companies (OMC) are only allowed to hike it by a “small amount” every month.
“Even after the current increase, under recovery on retail diesel shall stand at Rs9.99 per litre,” the IOC said. The OMCs, which review prices of diesel and petrol every fortnight, had last increased the diesel price by Rs0.50 per litre on October 31, while the petrol price was cut by Rs1.15 a litre.
IOC further said that it is suffering under-recoveries on sale of LPG (liquefied petroleum gas) cylinders and kerosene. On sale of LPG cylinders the IOC is suffering an under-recover of Rs36.20 per litre and on LPG cylinder sale of Rs542.50 per cylinder.
IANS
