Diesel Price hiked by 95 paise

Posted by On October 15, 2015 0 Comment

Diesel price will increased by 95 paise per litre but there will be no change in petrol rates. A litre of diesel will now cost Rs 45.90 with effect from midnight tonight as against Rs 44.95 currently at Delhi.
This is the second hike in diesel prices this month.
Oil firms had last increased by 50 paise on October 1.
At the last revision on September 1, petrol price was cut by Rs 2 per litre.
Prior to that, rates of petrol were cut on August 1 by Rs 2.43 a litre and that of diesel by Rs 3.60.
State-owned fuel retailers — Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) — revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.
Now this continuous hike in Price shows not a good indication for the coming 3-4 months.
If every fortnight the prices get hiked say by 50 paise each time, there will be a sure dip in economy by February- March 2016.

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