New Delhi, Jan 18: Hours after getting the green signal from the UPA government, oil marketing companies raised the prices of diesel by 45 paise (excluding of taxes). The decision is likely to have a negative impact on inflation and will lead to hike in road transport.
The OMCs also lowered the price of petrol by 25 paise.
According to a communication from Indian Oil, bulk consumers will now have to buy diesel at market price which could be higher by up to Rs 10 than the current price. Consumption by bulk users, such as Railways and State transport corporations, accounts for over 17 per cent of diesel sales.
It is believed that the OMCS will raise nearly 50 to 60 paise hike in diesel prices every month until the subsidy deficit is wiped out completely.
