Diesel prices were on Saturday hiked by 50 paise a litre, excluding State levies, the second increase in rates three weeks.
The monthly hike came after several rounds of discussions that the new Oil Minister Dharmendra Pradhan held with State-owned oil firms on continuing with the reform initiated by the UPA Government.The announcement of the hike gave clear indications that the BJP Government will continue with reforms of the previous Congress regime.The UPA had in January 2013 decided to raise diesel prices in small doses of upto 50 paise every month till such time that the subsidy on nation’s most consumed fuel is eliminated.
The hikes, effective from Saturday midnight, are excluding State sales tax or VAT and actual increase will be higher and will vary from city to city, the oil companies announced.