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

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

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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