India expects a diesel hike on Jun 24

New Delhi, Jun 24: Will the aam aadmi going to see the petrol hike today? India is expected to raise diesel prices on Friday, Jun 24 though there has been a delay in a government meeting to decide on the politically unpopular decision raised questions as to whether officials were in full agreement.

On Thursday, Jun 23 oil prices fell 6 per cent after major consuming countries announced an emergency stock release, pushing benchmark Brent crude to a four-month low and providing a window for India to raise prices with less pain for consumers.

The India government, since it was first elected in 2004 has more often than not refrained from pushing through tough reforms in favour of pleasing the predominantly rural voter base.

The decision on diesel hike has been delayed and other fuel prices for months, even as its subsidy burden mounts.

Persistently high inflation as well as its handling of a spate of corruption scandals has added to the government's reluctance and led to what many critics say is a state of policy paralysis in New Delhi.

OneIndia News