Steep diesel hike soon

Aug 28, 2013 |

Age Correspondent

Diesel prices could be hiked by a steep `3 to `5 per litre after Parliament’s Monsoon Session ends due to the rupee’s depreciation and a spike in global crude prices following the Syria crisis.

The under-recovery on diesel has shot up sharply to `10.22 per litre this mon-th. The government feels a sharp increase in price is needed as the monthly 50-paise hike won’t be able to narrow the gap.

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