Mumbai: Union Oil Minister Veerappa Moily today expressed confidence that diesel prices would be completely deregulated in the next two months.
“We still hope that in the days to come and within a couple of months, we are going to deregulate diesel prices completely,” Moily said at the Bloomberg TV India Autocar Awards function here.
The government would have achieved complete deregulation of diesel earlier but for the sharp currency depreciation during the year, he said.
Japanese brokerage firm Nomura had yesterday said that Congress' weak performance at the recent assembly elections and high inflation may force the government to rethink on its monthly diesel hikes.
Diesel is one of the last fuels to be completely deregulated and aligned to the international prices. In the present circumstances, deregulation may lead to a heavy increase in its prices.
