35 pc hike in diesel price

NEW DELHI, Oct 5 (PTI) — The government tonight effected a 35 per cent increase in diesel price to offset an upsurge in global oil prices and ease pressure on the burgeoning oil pool deficit.

In Delhi, the retail price of diesel would cost Rs 3.56 more per litre at Rs 13.91, while it would cost Rs 4.31 higher in Mumbai at Rs 16.54, Executive Director of Oil Coordination Committee M.S. Ramachandran told reporters today.

In Calcutta, diesel would be higher by Rs 3.68 at Rs 14.20 and in Chennai it would cost Rs 3.97 more at Rs 15.24 per litre.

Today’s hike, coming nearly five months after the last revision of diesel prices on April 20, is aimed at easing the pressure on the burgeoning oil pool deficit, currently at about Rs 5,200 crore.

The hike is expected to fetch an additional Rs 6,600 crore.