Diesel price hiked by 50 paise per litre, petrol price unchanged

State run fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) have hiked diesel price by 50 paise per litre. The new rates announced by the oil marketing companies (OMCs) will be effective from October 1, 2015. However the price of petrol was kept unchanged. This is the first increase in diesel price since May 16.  As a result, price of diesel in the national capital will be Rs 44.95 per litre as against Rs 44.45 per litre.

At the last revision on September 1, prices of Petrol and Diesel were cut by Rs 2 per litre and Rs 0.50 per litre respectively, on account of reduction in international crude prices in the month of August. The retailers had skipped the revision of fuel prices scheduled for September 15 on the ground that the difference between production cost and retail rate was 'marginal'.

PSU oil marketing companies Indian Oil Corporation, Bharat Petroleum Corp and Hindustan Petroleum Corp revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rates in the previous fortnight.