- No objection to govt's proposal to raise LPG cap: Election CommissionDiesel price hike coming soon as govt clears deregulation, raises LPG cylinder quota to 9 from 6Won't factor diesel price hike in oil subsidy bill in FY'13: ChidmabaramOil shares gain up to 6.6%, Indian Oil Corporation, Hindustan Petroleum lead
bought at near market price of Rs 895.50 per bottle.
After today's decision, consumers will get 5 subsidised cylinder instead of 3 in the period to March 31, 2013. From April 1, 2013 they will get 9 cylinders in a year.
The increase in cap would mean an additional subsidy outgo of Rs 9,300 crore annually.
India sets terms for diesel price hikes - source
(Reuters) Government has told state fuel retailers to raise diesel prices by 0.40 rupees to 0.50 rupees ($0.01) a litre every month to gradually align them with market rates, a source privy to the development said on Friday.
The increase 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.