Soon after the government partially deregulated diesel price allowing a hike of 40-50 paise a litre per month for retail customers and nearly Rs. 11 for bulk consumers, the Indian Oil Corporation Limited announced a marginal hike in diesel prices of 45 paise. IOCL also cut the price of petrol by 25 paise per litre. Both price changes were excluding VAT, and effectively translate into an increase of 50 paise and a decrease of 30 paise for the two auto fuels respectively at pumps in Delhi. Prices at pumps in other cities will vary according to the prevalent taxes. According to reports, up to 50 paise hike will take place every month.
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