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Finance secretary Mayaram sees diesel subsidy ending if oil prices hold

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Reuters NEW DELHI

NEW DELHI (Reuters) - Finance Secretary Arvind Mayaram said on Thursday he hoped diesel subsidy would be wiped out soon and prices would become market-determined if current global oil prices hold.

India regulates prices of diesel, liquefied petroleum gas, and kerosene to keep them in check for the masses.

Brent crude oil slipped below $102 a barrel on Thursday, near a 14-month low, on evidence of plentiful fuel supplies and Chinese economic data pointing to slowing demand.

(Reporting by Rajesh Kumar Singh; Editing by Prateek Chatterjee)

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First Published: Aug 21 2014 | 3:24 PM IST

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