Govt permits state-run oil firms to raise diesel prices
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Govt permits state-run oil firms to raise diesel prices

By Reuters

  • 17 Jan 2013

The government will permit state-run oil marketing companies to set diesel prices, Oil Minister Veerappa Moily told reporters on Thursday, in a surprise move that could help the government reduce its budget-busting subsidy bill.

There had been some speculation in India media that the government would announce an increase in diesel prices, but Moily said that decision would now be left to the marketing companies.

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