The diesel fuel prices have been hiked in India upto Rs. 1.09, effective from 12th May, midnight. In Delhi each litre of diesel cost Rs. 56.71 with Rs. 1.22 per liter hike, In Mumbai costs Rs. 65.21/liter after the price hike at Rs. 1.35 per liter.
The prices of diesel have been hiked because of elections are over as the old model code of conduct prevented the ruling government to hike or reduce prices as doing so could let them gain or lose votes. This hike has been pending for a while as the under recovery on every liter of diesel sold in India has been increasing steadily over the past few months.
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