Veerappa Moily says considering diesel price hike

Fuel retailers to raise price of subsidised diesel every month and asked bulk buyers to pay market rates.

Written by Reuters | Mumbai | Published: August 14, 2013 1:43 pm

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.

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