Government hikes diesel price by Rs.five a litre (Lead)September 13th, 2012 - 10:35 pm ICT by IANS
New Delhi, Sep 13 (IANS) The government Thursday announced a hike in diesel price by Rs.five a litre and restricted availability of cooking gas cylinders per family to six per year.
The decisions, taken by the Cabinet Committee on Political Affairs (CCPA) at a meeting presided over by Prime Minister Manmohan Singh, come into effect midnight Thursday.
The panel, comprising of ministers from allies of the United Progressive Alliance (UPA), was expected to meet on Tuesday evening, but the meeting was postponed and finally held here Thursday.
Diesel and cooking fuel prices have not been revised since June 2011 even as oil firms sell deregulated petrol at a price which is Rs.6 per litre less than its actual cost.
State-owned oil firms are losing around Rs.550 crore per day on the sale of regulated diesel and cooking fuels and around Rs.16 crore per day on petrol.
Oil Marketing Companies (OMCS) have been selling diesel at a loss of Rs.19.26 per litre, kerosene at a loss of Rs.34.34 per litre and domestic LPG at a loss of Rs.347 per 14.2-kg cylinder.
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- Hike likely in diesel, LPG, kerosene prices - Sep 05, 2012
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- May consider reduction of diesel subsidy : Reddy - Feb 15, 2012
- Decision on fuel prices deferred, CCPA meet postponed - Sep 11, 2012
- Fresh petrol price hike of Rs.1.80 per litre - Nov 03, 2011
- India Inc calls for dual pricing of diesel, LPG - May 24, 2012
- Petrol prices lowered by Rs.1.85 per litre - Nov 15, 2011
- No government role in petrol price hike: Pranab - Nov 05, 2011
- Petrol to be cheaper by Rs.2.46 a litre (Second Lead) - Jun 28, 2012
- Forced to hike petrol prices, say government, oil firms - Nov 04, 2011
- Fuel prices revised countrywide - Jul 25, 2012
- Government compelled to hike fuel price: Reddy - Aug 04, 2011
- 'Oil companies will decide on petrol price hike' - Nov 02, 2011
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