State-owned oil firms raised diesel prices by 50 paise per litre effective from Saturday-Sunday midnight, the 11th increase in diesel prices this year.
The price increase does not include VAT or the local levy which will vary from state to state.
Diesel price in Delhi will increase by 57 paise, including tax, to Rs 53.67 per litre, while it will cost Rs 60.70 a litre in Mumbai as against 60.08 currently.
The petrol prices have, however, been left untouched. Petrol prices were last revised downward on November 1.
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, said the 50 paise per litre increase in diesel rates was “pursuant to the government order dated January 17, 2013, whereby oil marketing companies have been authorised 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. “Even after the current increase, under recovery (loss) on diesel shall stand at Rs 9.99 per litre,” state-owned IOC said in a statement.
Published 30 November 2013, 13:04 IST