The prices of fuel will marginally surge on Wednesday (5 October 2016) as state-run fuel retailers raised dealer commission by 11 paise for petrol and 8 paise for diesel. Consequently, petrol price went up by 14 paise a litre and diesel by 10 paise due to the impact of state taxes. Petrol will now cost ₹64.72 per litre and diesel ₹52.61 per litre in Delhi. The increase will marginally vary in other states due to difference in tax rates.
Announcing the price decision, Indian Oil Corporation (IOC) said: “There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission.” The dealers were so far getting ₹1.38 per litre as commission on petrol and ₹2.28 on a litre of diesel.
The latest hike comes on the back of a 37 paise increase in petrol price effected on October 1. Diesel price on that day was cut by 8 paise a litre. The hike comes on the back of a 37 paise increase in petrol rate effected on October 1. Diesel price on that day was cut by 8 paise a litre.