OREANDA-NEWS. Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f midnight of 20th Dec./21st Dec'13:

Enhancement of Dealer Commission for Diesel by Rs. 0.10/litre (excluding state levies)

Enhancement of Dealer Commission for Petrol at Delhi by Rs. 0.21/litre (excluding state levies)

In addition to above, for Petrol, due to strengthening of prices in international markets and slight weakening of Rupee, it has been decided to increase retail selling price by Rs. 0.20/litre (excluding state levies).

The combined impact of the aforesaid revision and change in Dealer Commission on price of Petrol is an increase of Rs 0.41/litre (excluding state levies).

2. The Corporation continues to suffer under-recoveries on sale of Diesel(Retail) of Rs. 10.48/ SKO (PDS) of Rs.36.20/litre & LPG (Dom) of Rs. 542.50/cyl.

3.For the year 2013-14, the Corporation is expected to incur under-recovery of Rs 74,700 crore on sale of three sensitive products (Industry: Rs 1,43,800 crore)

The movement of prices in international oil market and INR-USD exchange rate is being closely monitored and developing trends of the market will be reflected in future price changes.