Government partially deregulates diesel prices

The government will permit state-run oil marketing companies to set diesel prices, Oil Minister Veerappa Moily told reporters on Thursday, in a surprise move that could help the government reduce its budget-busting subsidy bill.

January 17, 2013 / 14:52 IST

The government will permit state-run oil marketing companies to set diesel prices, Oil Minister Veerappa Moily told reporters on Thursday, in a surprise move that could help the government reduce its budget-busting subsidy bill.

There had been some speculation in India media that the government would announce an increase in diesel prices, but Moily said that decision would now be left to the marketing companies.

Govt allows oil firms to set prices over a period of time

first published: Jan 17, 2013 01:42 pm

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