On Wednesday Diesel Price was increased by 50 paise per 1 litre. But there was no change in Petrol Price. Diesel price is Rs 44.45 per litre. From midnight Diesel price was Rs 44.95 per currently, Indian Oil.Based on The current level of international prices and INR-USD exchange rate warrant the Diesel Price increase, which is being passed on to consumers/users with this price revision, IOC said.But the price of petrol would remain unchanged throughout the country.This is the first to increase the Diesel Price in four months. At the last revision on September 1st, Petrol Price was cut by Rs 2 per litre and Diesel Price by 50 paise.
Diesel prices to increase by 50 Paise per litre from midnight:-
Oil companies had at the last scheduled review on September 16th to increase a 98 paise per litre in Petrol Price and increase Rs 2.28 per litre in Diesel price. Necessitated due to firming global oil price apparently because of assembly elections in Bihar.
State-owned fuel retailers(SOF) — Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Limited (HPCL) — revise Petrol Price and Diesel Price on 1st and 16th of every month based on average of imported cost and rupee-dollar exchange rate in the previous night.
Since mid-May Petrol price have been cut by a cumulative Rs 5.09 per litre in Delhi (Rs 7.89 in Mumbai where there was no VAT increase). Similarly, Diesel Price have been cut Rs 7.83 per litre in Delhi (Rs 10.35 in Mumbai).
Indian Oil,the largest of the three oil marketing companies said late on Wednesday night that the retail selling price of Diesel Price in Delhi would go up by Rs. 50 paise per litre from 1st October, while there will be a “corresponding price revision in other states.”