Diesel prices to down by Rs. 3.56 per litre!
Posted on: 17/Oct/2014 3:05:55 PM
It is gathered that diesel price may be reduced by Rs. 3.56 per litre.
Official announcement is expected any moment.
There has been a trend of continuous fall in the crude oil prices in the international market.
Until a month ago, the profit earned by the oil corporations on diesel was Rs. 0.35 (35 Paise) per litre. This profit margin has increased gradually and presently, the profit stands at Rs. 1.90 per litre.
Currently, the profit has further increased to Rs. 3.35 per litre.
Comparing with the international market price, the profit earned has to be diverted to the retail market by reducing the price. However, due to the elections scheduled in the states of Haryana & Maharashtra, there has been no changes in the diesel price in these 2 states.
As per the regulations of the Election Commission, after the counting of votes gets completed on Sunday, the reduction in price may be announced by that day itself.
