Govt raises LPG cap to 9, allows oil firms to revise diesel prices

New Delhi  :  The cabinet Thursday approved a proposal to raise to nine the ceiling on subsidized cooking gas cylinders and allowed public sector firms to hike diesel prices from “time to time”.

Petroleum and Natural Gas Minister M. Veerappa Moily said the decision to increase the number of subsidized liquefied petroleum gas (LPG) cylinders eligible for each household would come into effect from April 2013.

Moily stopped short of saying that the government was deregulating diesel price. He said it was up to the Oil Marketing Companies to raise the price of diesel from “time-to-time”.