After Petrol Price Cut, Modi Government Set To Reduce Diesel Rates
Advertisement
Advertisement
Due to fall in international prices, the over-recovery on diesel sale for the state-owned oil marketing companies has shot up to Rs 3.56 per litre. However, the Diesel prices increased from Rs 1.90 per litre during October 1, 2014 to Rs 3.56 per litre from October 16.
While the new government has been regularly making efforts to bring down petrol prices, decision on slashing diesel prices has not yet taken place. Possibly, the delay was due to model code of conduct in view of state elections in Maharashtra and Haryana, which ended on Wednesday.
State owned companies were able to cut petrol prices because the decision to deregulate petrol was taken long back in 2010. On January 17, 2013, the central government only allowed a monthly hike of 40-50 paise per in diesel price in order to wipe out the under-recovery. But now the Cabinet will have to act to bring down diesel prices.
According to
Advertisement
Notably, under-recoveries continue on kerosene and LPG sale. In the case of PDS kerosene and domestic LPG, the under-recoveries for the second fortnight of October 2014 will be Rs 31.22 per litre (Rs 32.67 per litre in last month) and Rs 404.64 per cylinder (Rs 427.82 per cylinder in last month).
Looking at the sale of PDS kerosene and domestic LPG, state-owned fuel retailers —
(Image: Times of India)
Advertisement
- Should you be worried about the potential side-effects of the Covishield vaccine?
- India T20 World Cup squad: KulCha back on menu, KL Rahul dropped
- Sales of homes priced over ₹4 crore rise 10% in Jan-Mar in top 7 cities: CBRE
- Gold prices fluctuate as geopolitical tensions ease; US Fed meeting, payroll data to affect prices this week
- Best beaches to visit in Goa in 2024
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market