Diesel prices may be hiked after Presidential elections on July 19 as the Indian government plans to take bold measures to rein in run-away fiscal deficit.
“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.
–Agencies