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Govt may free diesel prices if crude touches $150: Basu

Govt may free diesel prices if crude touches $150: Basu
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First Published: Thu, Mar 03 2011. 01 15 PM IST
Updated: Thu, Mar 03 2011. 01 15 PM IST
New Delhi: The government would be forced to deregulate diesel prices if global crude touches $150 to $160 a barrel, Kaushik Basu, chief economic adviser in the ministry of finance said on Thursday.
Brent crude was at $114.82 a barrel on Thursday. Barring a price hike to that extent, he said diesel deregulation was not inevitable.
Basu has repeatedly favoured a hike in diesel prices but the government has kept deregulation on hold due to its impact on inflation and anger of the voters.
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First Published: Thu, Mar 03 2011. 01 15 PM IST