New Delhi, July 1 (IANS) Diesel will become costlier by 50 paise per litre excluding taxes from Monday midnight, the country’s largest oil marketing company Indian Oil Corp (IOC) said.
The company said despite the increase, marketing firms would continue to incur Rs.8.10 loss on sale of each litre of diesel.
“Under-recovery on sale of retail HSD (high speed diesel) has been steadily increasing mainly due to depreciation in rupee coupled with increasing international prices. Even after the aforesaid increase, there shall still be an under-recovery on retail HSD of Rs.8.10 per litre,” the government-run IOC said in a statement.
