Quick decision on diesel, LPG price hike: Moily

NEW DELHI: The government will decide on raising diesel and kitchen fuel prices along with raising the annual cap on the number of subsidized cooking gas cylinders "as quickly as possible," oil minister M Veerappa Moily said on Friday. He said the decision would be taken by the government through the Cabinet's panels on political or economic affairs but refused to be drawn into what his ministry was proposing. The oil ministry's response to recommendations of a panel set by the finance ministry has given several options on cutting subsidy on cooking gas, diesel and kerosene. Among the key recommendations are to raise diesel price by Rs 4.50 by March - either in small doses or at one go — and cooking gas prices by Rs 65 per cylinder, while for kerosene it has suggested an increase of Rs 2 a litre. TIMES OF INDIA.