Diesel prices in India News

A large proportion of oil imported by India comes from Iran but following US sanctions on Tehran, this is expected to go down significantly.

The government this week cut excise duty by Rs 2 per litre as part of efforts to reduce the prices of petrol and diesel.

PSU oil companies have deferred a planned Rs 2.26 a litre hike in petrol and Rs 1.78 increase in diesel.

Petrol will cost Rs 64.05 a litre as against Rs 63.47.

Know the new prices of petrol and diesel in major Indian cities applicable from midnight of August 31, 2016 and September 01, 2016.

Petrol will now cost Rs 63.47 a litre in Delhi from Thursday as compared to Rs 60.09 a litre currently, said Indian Oil Corp (IOC). The price of diesel will cost Rs 52.94 per litre as against Rs 50.27.

Petrol will cost Rs 62.51 a litre in Delhi from July 16 as compared to Rs 64.76 per litre.

Know the latest price of diesel in major Indian cities.

After the fourth reduction in rates in six weeks, petrol in Delhi will cost Rs 59.03 per litre.

Petrol and diesel prices are set to cost more as government is likely to hike  excise duty on petrol and diesel before March for boosting revenue and meet its fiscal deficit target.

India will decide on whether to end government control of diesel pricing after elections in two states next month, an oil ministry source said.

With Brent crude oil prices dipping below USD 100 per barrel, petrol prices may be cut by Re one a litre and there is also a likelihood of first reduction in diesel rates in seven years.

Oil marketing companies may cut diesel prices by 50 to 75 paise per litre in their scheduled mid month review due to fall in international crude prices.