TNI Bureau: The middle class people in India are bracing for a rude shock, as the government partially deregulated the diesel price and allowed the oil marketing companies to hike the prices by 50 paise per month or Rs 6 per annum. In addition, the bulk buyers will get diesel at the market price (no subsidy).
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The increase in diesel prices may have an cascading effect on transport costs and the price of all essential commodities. The government preferred to bite the bullet, but the common people are not in a position to face the heat, but they have no choice.
The government had earlier raised the cap on subsidised LPG cylinders from 6 to 9 from April 2013 and allowed the consumers to avail two more subsidized cylinder this fiscal year, ending March 31. The petrol prices may go down by 25 paise per litre.