According to report there might be a price hike of Rs 5 per litre soon. According to oil minister S Veerappa Moily The 5 rupee diesel price hike could cut the annual subsidy bill by Rs 400 billion.

According to them "We recognize it may not be possible right now to increase prices by the same quantum as suggested in the report". Since election is coming, so it will increase after the election.

The panel also suggested a 4 rupee/litre increase in the price of kerosene.

The panel also favoured limiting the sale of cooking gas cylinders sold at subsidised rates to six per household from nine, plus a gradual increase in retail prices to shift to market pricing in three years' time.


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