Diesel to become fully de-controlled in next 6 months: Moily

However, Moily said ministry is not contemplating a higher dose of decontrol

Petroleum minister M Veerappa Moily today said that diesel would be completely decontrolled within six months time.

Government had initiated phase-wise decontrol of diesel on January 17 this year, with a monthly increase of 50 paise.

On the first fortnight of November, the under-recovery on diesel was seen at Rs 9.58 per litre, while that of kerosene and domestic LPG were seen at Rs 35.77 per litre and Rs 482.41 per cylinder.

However, Moily added that the ministry is not contemplating a higher dose of decontrol at the moment.

Moily believes that rupee will strengthen further and international prices would come down which coupled with the monthly rise in prices will decontrol diesel prices.

At current level of diesel under-recovery, it would take at least 19 months for the diesel to be completely at market rates.