Veerappa Moily says considering diesel price hike

Aug 14 2013, 19:06 IST
Comments 0
A worker fills diesel in a vehicle at a fuel station in Chennai. (Reuters) A worker fills diesel in a vehicle at a fuel station in Chennai. (Reuters)
SummaryFuel retailers to raise price of subsidised diesel every month and asked bulk buyers to pay market rates.

India will consider a request from oil marketing companies to be allowed to raise diesel prices by more than the approved 0.50 rupees a month, the country's oil minister, M Veerappa Moily said.

"That's under consideration, but we have not yet decided," Moily told the news channel when asked whether the government would allow companies to raise retail prices for diesel beyond the 0.50 rupees a month currently allowed.

In January, India allowed fuel retailers to raise the price of subsidised diesel every month and asked bulk buyers to pay market rates.

Any diesel hike would need cabinet approval.

Ads by Google

More from Business

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...