Parikh recommends Rs 5/litre hike in diesel prices,Rs 250 per cylinder hike in LPG

New Delhi – Diesel prices should be immediately hiked by Rs 5 per litre, the Kirit Parikh Committee has recommended while favouring reduction of the quota of subsidised LPG to 6 cylinders per household in a year from 9 at present.

The panel has recommended Rs 4 per litre increase in kerosene and Rs 250 per cylinder hike in LPG rates, Parikh told reporters after presenting the report to Oil Minister Veerappa Moily.

The panel also recommended fixed subsidy of Rs 6 per litre on diesel while favouring deregulation of diesel price in a year’s time.

The expert group was tasked to suggest a methodology for pricing of diesel and cooking fuel.