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Diesel prices to be hiked 40-50 paise every month: Moily
This article was posted on Feb 2, 2013 and is filed under Market News
New Delhi: Diesel prices will be hiked by 40-50 paise per litre every month till losses on the nation’s most used fuel are completly wiped out, Oil Minister M Veerappa Moily said on Friday.
“Until further orders, oil marketing companies can increase it (diesel price) by 40-50 paise (per litre) every month,” he told reporters here.
The government had on January 17 decided to move towards deregulating or freeing diesel prices from state control and gave powers to state-owned oil firms to raise prices in small measures every month till all of their losses are wiped out.
Diesel is currently sold at a loss of over Rs 10.80 per litre.
Source: Business Standard
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