OREANDA-NEWS.  July 08, 2013. In pursuant to GOI order dated 17th Jan'13, OMCs were authorised to increase the retail selling price of Diesel within a small range every month until further order.

Accordingly since then, HSD(Retail) prices are being raised on a regular basis. In further continuation of the above, Indian Oil Corporation Ltd. has decided to increase the Retail Selling Price of Diesel w.e.f midnight of 01/02 July'13 by Rs. 0.50/litre (excluding VAT).

Under-recovery on sale of Retail HSD has been steadily increasing mainly due to depreciation in rupee coupled with increasing international prices. Even after the aforesaid increase, there shall still be an under-recovery on retail HSD of Rs 8.10/litre.