Diesel price hiked 10 paise a litre, Petrol by 14 paise

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 Rs 64.72 per litre and diesel Rs 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 Rs 1.38 per litre as commission on petrol and Rs 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.