DEISEL HIKE Expecting in Kerala Reporter News
IOC, India Oil Corporation, Monday announced that a hike in diesel prices by 50 paise per litre, excluding VAT . PK Goyal, Director Finance, IOC told CNBC-TV18 that this increase in the diesel prices will reduce the under-recovery by Rs 300 crore per month for the oil companies. He also informed that prior to the hike the under-recovery for diesel was Rs 8.60 per litre and now it is Rs 8.10 per litre. Goyal believes if the same trend continues the under-recovery on diesel for FY14 will be seen at Rs 59,000 crore.