New Delhi: Diesel price is hiked by 50 paise per litre, effective from midnight, as announced by oil marketing companies. Aslo, is hiked petrol price by 75 paise.The government had permitted OMCs like IOC (Indian Oil Corporation), HP (Hindustan Petroleum) and BP (Bharat Petroleum) to gradually increase diesel price every month as part of a price decontrol phase.
The diesel under recovery of OMCs so far is of Rs. 9.74 per litre, which is then subsidised by the government so the companies do not incur losses.Read more
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