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Petrol Hiked 14 Paise/litre, Diesel by 10 Paise

IOC owns and operates 11 out of India's 23 refineries with a combined refining capacity of 80.7 mt per annum.

IANS

Updated:October 4, 2016, 11:53 PM IST
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Petrol Hiked 14 Paise/litre, Diesel by 10 Paise
An employee counts money at a fuel station. (Files/Reuters)

New Delhi: State-run oil marketers again raised transport fuel prices effective from Wednesday on account of hikes in dealer commission, by 10 paise for diesel and 14 paise for petrol, inclusive of local taxes in Delhi, with corresponding increase in other states.

"There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission," Indian Oil Corp said in a statement here.

As commission, the dealers were so far getting Rs 1.38 per litre on petrol and Rs 2.28 on a litre of diesel.

Petrol per litre from Wednesday will cost Rs 64.72 in Delhi, Rs 67.72 in Kolkata, Rs 71.12 in Mumbai and Rs 64.24 in Chennai.

Similarly, diesel per litre will cost Rs 52.61 in Delhi, Rs 54.92 in Kolkata, Rs 58.11 in Mumbai and Rs 54.07 in Chennai.

The Indian basket of crude oils closed trade on Monday at $48.10 a barrel, as per official data.

Amid the recent fluctuation in global oil prices, IOC had last week moved in different ways on its fortnightly revision of transport fuels, increasing the price of petrol by 28 paise a litre and decreasing diesel by 6 paise effective from Saturday -- both at Delhi, with corresponding changes in other states.

Meanwhile, IOC plans to invest Rs 18,000 crore to raise capacity of its Panipat refinery in Haryana to 25 million tonnes by 2020, its Director (Refineries) Sanjiv Singh said here on Tuesday.

IOC owns and operates 11 out of India's 23 refineries with a combined refining capacity of 80.7 mt per annum.

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