Diesel price up by 50 paise per litre

Diesel price was on Monday hiked by 50 paisa per litre, the sixth increase in rates this year. The increase in rates, which are excluding local sales tax or VAT, will be effective from midnight tonight, Indian Oil Corporation said. Diesel in Delhi will cost Rs. 50.84 per litre from Tuesday as against Rs. 50.26 currently. Oil firms on Saturday hiked petrol price by Rs. 1.82 per litre, excluding VAT, as rupee depreciation made import of crude oil costlier. State-owned oil firms had been in January authorised to raise diesel prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out. In Mumbai, price has been hiked by 62 paisa to Rs. 57.61 while in Kolkata it will cost Rs. 55.16 a litre from Tuesday as against Rs. 54.57 currently. Chennai will see a price increase of 61 paisa to Rs. 54.15 a litre.