Diesel prices hiked by 45 paise a litre from Saturday, third increase since January

In another move, wherein Diesel prices have been hiked by INR 0.45 wef Saturday, 23rd March 2013, the third ever hike since January 2013, when the diesel prices were decided to be partially freed and was decided to hike prices of diesel by 0.45 - 0.50 INR every month by a total of INR 9.

The total price increase of INR 9 is expected to happen till December 2013. After local levies, diesel will be costlier by 51 paise in Delhi, 57 paise in Mumbai, 53 paise in Kolkata and 55 paise in Chennai, Indian Oil Corp executives said. Prices were last revised on 16th Feb 2013.

Oil firms had slashed petrol rates sharply by 2.40 per litre on March 16 as international crude oil prices fell by over $5 per barrel. Fuel rates in India are highly dependent on global fuel prices because the country imports 80% of its crude oil requirements.The loss on Diesel to Oil marketing companies still remains at INR 8.19.fuel

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