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Diesel Price Hike By Rs 1.09 A Litre From Today
The dreaded monthly hike in diesel price has returned after a month long gap. With the conclusion of polls, oil companies have increased price of diesel duel by Rs 1.09 per litre.
This increase in price is excluding state levies and the actual price increase post state sales tax or VAT will be higher and will vary from state to state.
The last time diesel price was hiked was on March 1.
The decision to hike diesel price each month by 40-50 paise was announced in January last year to reduce losses incurred by the state owned oil companies.
Since then the price of this essential fuel has gone up by Rs. 8.33 a litre in 14 instalments.
With diesel set to become increasingly become more expensive with each passing month, car makers in India have lost interest in investing in new diesel engines, Tata motors being the prime example.
The Mumbai-based automobile manufacturer has decided against launching the diesel Nano despite the project being near completion. Even customers have started showing a preference for less expensive petrol cars.
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