Zee Media Bureau
New Delhi: Oil marketing companies on Friday decided to hike diesel prices by 50 paise per litre, effective from midnight.
The hike is excluding local sales tax or VAT and actual increase will be higher and vary from city to city.
However, price of non-subsidised LPG has been slashed by Rs 107 per cylinder.
Diesel price increase is in line with the January 2013 decision of the government to raise rates by up to 50 paise per month till such time that the entire losses on the fuel are wiped out, and prices made market determined.
Diesel price was last hiked by 50 paise excluding VAT on Jan 04.
With agency inputs
First Published: Friday, January 31, 2014, 19:19