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Downstream oil marketing major, Indian Oil Corporation has announced plans to raise diesel prices by 45 paise per litre.
The price hike, which excludes value added taxes, will come into effect from tonight.
Despite the price hike, the company said it is incurring a loss of Rs 8.19 per litre on diesel.
The last hike in retail diesel prices occurred on February 16.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.