Petrol costlier by 14 paise per litre, diesel by 10 paise as OMCs hike dealer commission

State-run oil marketing companies have announced an increase in the retail selling prices of petrol and diesel effective midnight intervening Tuesday consequent to a hike in dealer commission.

OMCs have increased dealer commission on petrol by 14 paise per litre and on diesel by 10 paise per litre. Accordingly, retail prices of the two auto fuels will go up by 14 paise and 10 paise, respectively, Indian Oil Corporation, the country's latgest oil marketing company stated in a release.

Petrol will now cost Rs 64.72 per litre in Delhi, Rs67.72 per litre in Kolkata, Rs71.12 per litre in Mumbai and Rs64.24 per litre in Chennai.

Similarly, a litre of diesel will cost Rs52.61 in Delhi, Rs54.92 in Kolkata, Rs58.11 in Mumbai and Rs54.07 in Chennai.

"There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission," Indian Oil Corp said in a statement here.

The dealers had so far been getting a commission Rs1.38 per litre on petrol and Rs2.28 on a litre of diesel.

This is the second hike in petrol prices in less than a week. Though diesel prices were cut by 6 paise in the last fuel prices revision, effective midnight of 30 September, prices have gone up by 10 paise now.

The Indian basket of crude oils closed trade on Monday at $48.10 a barrel, as per official data.