Decision on diesel deregulation after state polls

This is perhaps the first time that retail prices in India are higher than the global rates due to a sustained monthly rise in local prices since January 2013.

"We tinker with diesel prices once a month...There is a case for a cut in diesel prices towards the end of the month but a decision is yet to be taken on that," the source with direct knowledge of the matter said.

"The diesel under-recovery has been wiped out and there is over-recovery of 35 paisa per litre with effect from September. 16," a government statement said on Tuesday.