Diesel price may be hiked by Rs 4-5/litre Diesel prices should be immediately hiked by Rs 4-5 per litre, the Kirit Parikh Committee has recommended while favouring continuation of existing pricing principles for controlled petroleum products. The expert group, which was tasked to suggest a methodology for pricing of diesel and cooking fuel, will submit its report on Wednesday. Sources said the committee has suggested that trade parity pricing formula for diesel, kerosene and cooking gas (LPG) be retained. It suggested an increase in its retail price by Rs 4-5 per litre immediately and the remaining subsidy recovered from consumers through a monthly price hike of Re 1 per litre or oil companies be paid a fixed subsidy of Rs 6 per litre.
Posted on: Tue, 29 Oct 2013 07:50:52 +0000
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