Sale of Diesel drops to Rs 1.33 per litre
Picture for representational purpose
New Delhi: Losses on the sale of diesel have dropped to an all-time low of Rs 1.33 per litre, bringing the prospect of deregulation of the nation’s most consumed fuel within sniffing distance. If the current trend continues, diesel will be deregulated in three months.
An official statement said the difference between the cost of diesel production and the retail selling price has narrowed to Rs 1.33 per litre from Rs 2.49 last month. This was made possible because of softening international oil rates and the new government continuing with monthly price increases.
Rates have cumulatively risen since January 2013 when the previous UPA government had decided on small monthly hikes. Officials said the monthly increases had trimmed losses to less than Rs 3 per litre in May 2013. The losses have fallen rapidly since March as the prospect of a stable government under PM Narendra Modi helped the rupee gain against the dollar.
( Source : PTI )
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