Oil companies have hiked the price of diesel by 45 paise a litre excluding VAT. The revised rate came into effect midnight last night.

Diesel will now cost 48.67 rupees a litre in Delhi and 54.83 rupees per litre in Mumbai. It will cost 52.57 rupees a litre in Kolkata and 51.78 rupees per litre in Chennai.

The government had in January authorised state-owned oil firms to hike diesel prices by small doses of up to 50 paise per litre every month till their losses on the fuel sale are completely wiped out.