Diesel price will be hiked by 45 paise, excluding VAT from midnight Friday Indian Oil Corporation (IOC) announced.
In Delhi, diesel price will go up by 51 paise per litre after including taxes to Rs 48.67 per litre from Saturday as against current rate of Rs 48.16.
The government in January had authorised state-owned oil firms to hike prices of the subsidised fuel gradually every month to cut down losses.
IOC on Friday said even after the hike, oil firms are losing Rs 8.19 per litre.
--IBNS (Posted on 23-03-2013)