New Delhi: Diesel price is likely to see a steep hike after the end of the monsoon session of Parliament.
As per reports, the Ministry of Petroleum and Natural Gas is considering a hike in the diesel price by at least Rs 5 per litre. The ministry feels that a Rs 3 per litre diesel price hike is meaningless when under-recoveries are over Rs 10 per litre.
The ministry will reportedly approach the Union Cabinet with various permutations and combinations on price hike.
However, no decision has been taken as yet on the oil marketing companies recommendations to hike diesel price by more than 40-50 paise per month.