Amid exit poll results, a bad news for Aam Aadmi; diesel price hiked

New Delhi, May 12: The country has gone abuzz with exit polls results, shown in different TV channels on Monday, May 12. But, whatever the results might be, here came a bad news for aam-aadmi (common man). Continuing the sad-old-saga of price rise, diesel prices have been hiked once again on Monday.

Diesel prices have been hiked by Rs1.09/litre by several oil companies. The current diesel price hike excluded local taxes. This was the first hike in over a month and would be effective from Monday midnight.

The companies decided not to hike the price in April 2014. The oil companies skipped the monthly hike of 40-50 paisa a litre on the pretext that losses have dropped below Rs 6. According to officials, Rs 6 was the subsidy that an expert committee headed by Kirit Parikh had suggested should be provided by the government.

Earlier in May, 2014, oil companies said they were suffering losses of Rs 6.80 per litre on diesel sales.

The Cabinet had in Jan, 2013, decided that diesel prices should be raised by 40-50 paise a litre every month until losses on the fuel are wiped out. Diesel prices have risen by a cumulative Rs 8.33 a litre in 14 instalments since Jan 2013.

OneIndia News
(With agency inputs)

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