Monthly diesel price hike till subsidy compensated: Govt

The government gave powers to state-owned oil firms to raise prices in small measures every month till all of their losses are wiped out.

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 completely wiped out.

Speaking to reporters here Petroleum minister M Veerappa Moily on Friday said, until further orders, oil marketing companies can increase diesel price by 40-50 paise per litre every month.

The government had on January 17th 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.

"Exciting news! Elets eGov is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest insights!" Click here!
Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter , Instagram.