Diesel price hiked by 50 paise, petrol unchanged

The diesel price in India has increased by 50 paise from today, but petrol prices remain the same. This is the first hike in diesel price in four months.

Diesel now costs Rs 44.95 a litre in Delhi, while petrol price remains the same. However, the state government of Maharashtra has imposed a surcharge of Rs 2 on both petrol and diesel, meaning residents of Maharashtra will have to shell out more money for both anyway. The government plans to raise funds to pay farmers for the losses they have incurred due to unseasonal rains and drought.

The current increment in diesel price is due to the depreciation of the Rupee against the US Dollar. The prices in petrol and diesel are reviewed by oil firms every fortnight leading to an increase or decrease in prices. This subsequent revision in fuel prices depends on the average imported cost and rupee-dollar exchange rate in the previous fortnight.