Diesel price hiked by 50 paise, non-subsidised LPG cost cut by Rs 107

Diesel price hiked by 50 paise, non-subsidised LPG cost cut by Rs 107

After a minor relief in cooking gas quota to consumers, the government on Friday appeared to have done the balancing act by raising the diesel price by 50 paise per litre from Friday-Saturday midnight.

However, there is no change in petrol prices.

The raise in diesel prices will vary from state to state after levy of local taxes or VAT.

In Bangalore, diesel will now cost Rs 59.38, a 61-paise hike from the previous Rs 58.77.

In Delhi, after the imposition of VAT of 57 paise, the price of diesel will be Rs 54.91 per litre, while it will sell at Rs 63.23 a litre in Mumbai, Rs 59.50 per litre in Kolkata and Rs 58.56 a litre in Chennai.

The increase in diesel prices is in line with last year’s government decision to raise the prices of this administered fuel in small doses every month until the losses of oil marketing companies are wiped out. The last hike in diesel prices was on January 4. Even after the 13th price hike since last January, oil companies are incurring Rs 9.24 per litre loss on the sale of diesel, India’s largest retailer Indian Oil Corporation said.

Meanwhile, the prices of non-subsidised LPG cylinders, which customers buy after consuming their quota of 12 subsidised cylinders, was cut by Rs 107 per cylinder as international gas prices reduced.

The 14.2-kg cooking gas cylinder, which sells at the market price, will now cost Rs 1,134, down from Rs 1,241, in Delhi.

In Bangalore, the non-subsidised LPG cylinder will now cost Rs 1,059 from the previous Rs 1,162 after a reduction of Rs 103 in the prices.

IOC said losses on LPG have come down to Rs 656 per 14.2-kg cylinder from Rs 762.50 earlier.

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