Now Diesel May Be Dearer By 80 Paise/Litre
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At present, the revenue loss on the fuel is Rs 6.80 a litre and it is for the Oil Ministry to take a decision, an EC official said.
"With the proposed 80 paise hike, revenue loss on diesel is expected to be around Rs 5 per litre from May 16," a government source said.
The hike will also cover backlog as it was delayed due to the recently concluded polls, government officials said. The fuel price would increase drastically as the companies were not allowed to increase diesel prices for the past two months.
The government had allowed oil companies to increase diesel rates by 50 paise every month until their revenue losses are neutralised.
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