Diesel price was hiked by 50 paise per litre on Friday but there will be no change in petrol rates.

The hike that took effect on Friday midnight, excludes local sales tax or VAT. The actual increase will be higher and will vary from city to city.

However, the price of non-subsidised cooking gas (LPG), which customers buy after consuming their quota of 12 subsidised cylinders, was cut by Rs. 107 a cylinder on easing international rates.

The price of diesel in Delhi will be hiked by 57 paise, including tax, to Rs. 54.91 per litre, while it will cost Rs. 63.23 a litre in Mumbai as against Rs 62.60 at present.

The diesel price hike is in line with the January 2013 decision of the government to raise rates by up to 50 paise per month till the entire losses on the fuel are wiped out.

Indian Oil Corp, the nation’s largest fuel retailer, said that even after the 13th price hike since last January, oil companies are incurring a loss of Rs. 9.24 per litre on the sale of the fuel.

The 14.2-kg cooking gas cylinder that consumers buy beyond their entitled 12 bottles will now cost Rs. 1,134, down from Rs. 1,241, in Delhi.

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