Saturday, February 2, 2013

India Diesel prices to be hiked 40-50 paise (approx LKR 1,00) every month

Will Sri Lanka follow as well
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, oil minister M Veerappa Moily said today.

"Until further orders, oil marketing companies can increase it (diesel price) by 40-50 paise (per litre) every month," he told reporters here.

The government had on January 17 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.

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