New Delhi, Jan 31 IBNS | 11 months ago

Adding burden to consumers, diesel price was hiked by 50 paise a litre on Friday.

The new price will come to effect from midnight.

"Indian Oil Corporation Ltd. has decided to Increase the retail selling price of Diesel (Retail) by Rs.0.50/litre (excluding state levies) w.e.f midnight of 31st Jan/1st Feb'14," said state-run Indian Oil Corporation Ltd. (IOC) in a statement.

"The above increase is pursuant to GOI order dated 17th Jan'13, whereby OMCs have been authorized to increase the retail selling price of Diesel within a small range every month until further orders. Accordingly, since then, Retail Diesel prices are being revised every month. In continuation of above, Indian Oil Corporation Ltd. has decided to effect the aforesaid increase in Retail Diesel prices. Even after the current increase, under recovery on Retail Diesel shall stand at Rs. 7.40/litre," it said.

(Posted on 01-02-2014)

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