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English Release 18-October 2014
Date Month Year
  • President's Secretariat
  • Bangladesh Youth Delegation Calls on the President
  • Prime Minister's Office
  • PM reconstitutes National Committee to commemorate the 125th Birth Anniversary of Shri Jawaharlal Nehru
  • PM’s Telephone Call to H. E. Mr. Hamid Karzai, former President of Islamic Republic of Afghanistan
  • Cabinet
  • Productivity Linked Bonus for Railway Employees
  • Approval for Ahmedabad Metro Rail Project Phase-1
  • India's participation in the development of Chahbahar port in Iran
  • Cabinet Committee on Economic Affairs (CCEA)
  • Deregulation of Diesel Prices
  • Revision of Domestic Gas Prices
  • Policy framework for relaxations, extensions and clarifications at the development and production stage under psc regime for early monetization of hydrocarbon discoveries
  • Modified direct benefit transfer scheme to be relaunched in the country
  • Financial support to Mahanagar Telephone Nigam Limited on account of liability arising from levy of Minimum Alternate Tax
  • Four laning/two laning of Chandikhole-Dubari-Talcher section of National Highway – 200 and National Highway - 23 in Odisha
  • Ex post facto approval regarding Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2013-14
  • Min of Agriculture
  • Radha Mohan Singh assures assistance to rehabilitate farming activities in Hud Hud affected Andhra
  • Min of Chemicals and Fertilizers
  • Ex post facto approval regarding Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2013-14
  • Min of Defence
  • Coas Closing Remarks on Culmination of Army Commander’s Conference on 18 Oct 14
  • Min of Environment and Forests
  • Environment protection and Development need to be synergized
  • Min of External Affairs
  • India's participation in the development of Chahbahar port in Iran
  • Min of Information & Broadcasting
  • Selection of Feature & Non-Feature Films in Indian Panorama for 45th International Film Festival of India, IFFI 2014
  • Min of Petroleum & Natural Gas
  • Deregulation of Diesel Prices
  • Revision of Domestic Gas Prices
  • Policy framework for relaxations, extensions and clarifications at the development and production stage under psc regime for early monetization of hydrocarbon discoveries
  • Modified direct benefit transfer scheme to be relaunched in the country
  • Ministry of Railways
  • Productivity Linked Bonus for Railway Employees
  • Min of Road Transport & Highways
  • Financial support to Mahanagar Telephone Nigam Limited on account of liability arising from levy of Minimum Alternate Tax
  • Four laning/two laning of Chandikhole-Dubari-Talcher section of National Highway – 200 and National Highway - 23 in Odisha
  • Min of Science & Technology
  • Dr Jitendra Singh Launch’s ‘Jammu Kashmir Arogya Gram Yojana’ Under CSIR
  • Min of Urban Development
  • Approval for Ahmedabad Metro Rail Project Phase-1

Previous Date

 
Ministry of Petroleum & Natural Gas18-October, 2014 20:37 IST
Deregulation of Diesel Prices

The Union Cabinet Committee of Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, today approved the issues relating to the under-recovery on sale of diesel and its present status. Instructions have been issued today i.e. on 18th October 2014 to make the price of Diesel market determined with effect from midnight of 18th-19th October 2014. The prices of Diesel will be market determined at both Retail and Refinery Gate level for all consumers thereafter.

Based on an earlier decision of the Cabinet Committee on Political Affairs (CCPA) dated 17th January 2013, instructions were issued to the Public Sector Oil Marketing Companies (OMCs) allowing them to increase the retail selling price of Diesel in the range of 40 paisa to 50 paisa per litre per month (excluding VAT as applicable in different States/Union Territories) till further orders.

Diesel prices will henceforth be market determined. This will facilitate greater competition in the Auto Fuels Retail segment and enhanced efficiency in service delivery of the oil companies. This is expected to benefit consumers due to greater competition among oil companies and more choices. The competition is also expected to foster greater efficiency in oil companies benefitting the consumers.

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(Release ID :110701)

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