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Petrol, Diesel Prices to Rise

Diesel price hiked
Diesel price hiked by 50 paise a litre; petrol down

Diesel price hikedNew Delhi: Prices of petrol and diesel will go up marginally after the government decided to increase the commission paid to petrol pump dealers by 30 paise per litre for petrol and by 18 paise a litre for diesel.

Official sources said Thursday the petroleum ministry decided to increase the dealer commission on petrol from Rs.1.499 per litre to Rs.1.799 a litre. The commission on diesel has been hiked from 91 paise to Rs. 1.09 a litre.

The price revision would be effective either Thursday or from Friday, depending on the ministry’s issue of a formal letter to oil companies.

Petrol is currently priced at Rs.67.90 per litre in Delhi and diesel Rs. 46.95. After the hike, petrol will cost Rs.68.2 per litre and diesel Rs.47.13 a litre.

At the previous increase in dealer commission in July 2011, it was hiked by 28 paise on petrol and by 15.5 paise on diesel.

Petrol pump dealers have been demanding increase in commission of 67 paise on petrol and 42 paise on diesel, in view of the steep rise in their operating costs like electricity charges.

The government had, with effect from Oct 7, hiked commission paid to LPG distributors by Rs.11.42 per cylinder. Subsidised LPG in Delhi currently costs Rs.410.42 per cylinder, up from Rs.399.

Source: IANS