NEW DELHI, Jan 17 (Reuters) - India has told state fuel
retailers to raise diesel prices by 0.40 rupees to 0.50 rupees
($0.01) a litre every month to gradually align them with market
rates, a source privy to the development said on Friday.
The increase excludes value added tax and other taxes in
India has also told fuel retailers to sell diesel, which
accounts for 40 percent of fuel consumption in the country, at
free market rates to bulk consumers such as industrial clients,
the source, who requested anonymity, said.
India's government earlier on Thursday had given fuel
retailers some leeway to raise prices of diesel, which is
heavily subsidised by New Delhi.