Retail prices of diesel were increased on Sunday by over 20 paise a litre for the fourth consecutive days, while petrol prices remained stable across India. A litre of diesel costs Rs. 64.56. in Dimapur, while in the state capital Kohima, a litre of diesel is priced at Rs 65.19.
Consumers may feel the pinch of higher fuel prices in coming months as the government is considering a proposal to allow oil marketing companies charge a premium on retail prices of petrol and diesel to recover their investment in producing less polluting fuel.
Public and private sector oil marketing companies have appealed to petroleum ministry to support a plan to raise consumer prices of auto fuels to help them recover a portion of investments made in upgrading their refineries to produce BS Stage-VI fuel.
If this proposal is accepted, retail prices of petrol and diesel would come at a premium of about Rs 0.80 a litre and Rs 1.50 a litre, respectively for the next five years much to the discomfort of consumers.