Reports have said that that the central government is likely to hike diesel prices after Prez Polls on July 19.
The decision will be taken by the government to fill the loss faced by them to cut the amount of money it pays out to keep prices lower.
Talking to media, a source without revealing his name said, “This has been the thinking for quite some time that a price rise could come after Presidential polls.”
The source said, “It is inevitable. By how much I can’t say.”
Meanwhile, the central government heavily provides financial support in diesel prices to keep it low, as much of the economy of the country depends on it in a way of transportation and farming.
Further, source said, “Gasoline prices – ostensibly already freed from government controls – were currently not causing any losses for India.”
He said, “It is under control, there is volatility both on the rupee front and oil prices (global) at the moment we are not incurring any loss.”