Diesel Price hike after Presidential Election
New Delhi. Struggling to cope with the burgeoning fiscal deficit, the government on Thursday indicated that tough decisions, including upward revision in diesel prices, are in the offing after the July 19 presidential election.
“Price increase is inevitable. But date and time, nobody can say,” a top Oil Ministry source said.
Diesel prices have not been raised since June 25 last year, and state-owned oil firms sell the fuel at a loss of Rs 10.33 a litre.
“It (price increase) is on the radar for sometime now,” the source, said refusing to say when the diesel rates would be increased.
Asked if diesel prices can be increased after the July 19 Presidential election, the source said, “it is your guess”.
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