IOC hikes diesel price by 50 paisa / litre

Sarkaritel
By Sarkaritel May 31, 2014 21:25

IOC hikes diesel price by 50 paisa / litre

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New Delhi, May 31 Indian Oil Corporation Ltd. has decided to increase the retail selling price of Diesel (Retail) by Rs.0.50/litre (excluding state levies) w.e.f midnight of 31st May/1st Jun’14.

The above increase is pursuant to GOI order dated 17th Jan’13, whereby OMCs have been authorized to increase the retail selling price of Diesel within a small range every month until further orders. Accordingly, since then, Retail Diesel prices are being revised every month.

In continuation of above, Indian Oil Corporation Ltd. has decided to effect the aforesaid increase in Retail Diesel prices. Even after the current increase, under recovery on Retail Diesel shall stand at Rs. 2.80/litre.

The Corporation is also suffering under-recoveries on sale of SKO (PDS) of Rs.32.87/litre & LPG (Dom) of Rs. 432.50/cyl. For the year 2014-15, the Corporation is expected to incur under-recovery of around Rs 53,600 crore on sale of three sensitive products (Industry around Rs 1,01,700 crore)

Sarkaritel
By Sarkaritel May 31, 2014 21:25

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