Diesel price hike capped for oil cos at 50p and Rs 11 by govt

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Govt gives orders to oil cos to stick to a limited mandate vis a vis the buyers. (Reuters) Govt gives orders to oil cos to stick to a limited mandate vis a vis the buyers. (Reuters)
SummaryGovt gives orders to oil cos to stick to a limited mandate vis a vis the buyers.

excludes value added tax and other taxes in various states.

India has also told fuel retailers to sell diesel, which accounts for 40 percent of fuel consumption in the country, at free market rates to bulk consumers such as industrial clients, the source, who requested anonymity, said.

Government earlier on Thursday had given fuel retailers some leeway to raise prices of diesel, which is heavily subsidised by New Delhi.

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