Govt may hold diesel price rise, ignore decontrol option
At least two months are left before a new government takes charge, so there is time for two monthly price rises of 50 paise a litre each The petroleum & natural gas ministry has decided to discontinue the practice of a monthly diesel price increase, indicating putting on hold its plan for a phased decontrol of the fuel’s price. But this has come at a time when the revenue loss on sale of every litre of diesel has shrunk to Rs 5.93 a litre, which could, perhaps, have given the government the best window to effect a complete decontrol.