Fuel Prices surge by 14 Paise a Litre for Petrol and 10 Paise for Diesel

By siliconindia | Thursday, 06 October 2016, 04:46 Hrs

BENGALURU: The fluctuating fuel prices has impacted majority of the people in the country. The increasing price in petrol and diesel has a direct effect, especially on daily commuters. The fuel price is likely to increase in a marginal rate as the state run fuel retailers raised dealer commission by an additional 8 paise for diesel and 11 paise for petrol.

There has been a significant raise in the petrol price by 14 paise a litre and diesel by 10 paise due to the impact of the state taxes. Being said, the current cost of petrol is 64.72 per litre in Delhi and diesel is 52.61 per litre support. The cost of the fuel is expected to vary across the states based on the difference in tax rates.

The Indian Oil Corp announced about the price decisions and informed that there will be a revision in the petrol and diesel prices among the states on the account of varying dealer commission. In contrast, the dealers association also proclaimed that the initial commission of Rs 1.38 per litre of petrol and Rs 2.28 on diesel is not enough to cover the rising operational costs. In addition, the association is further planning to initiate a meeting to decide the future course of action.

The hike in the price is a result of the 37 paise increase in petrol price on October 1. On the same day the price in diesel was slashed by 8 paise a litre.