Diesel pricing: SC issues notice on plea of PSU IOCL

The Supreme Court on Friday issued notices on petitions filed by PSU major Indian Oil Corporation Ltd (IOCL) seeking transfer of cases pending in  various high courts against the Centre's decision to de-control diesel prices.

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Some of the pleas were also directed against the decisions of the high courts asking the Centre  not to implement the decision taken by the ministry of petroleum and natural gas on January 17 to allow the market to regulate the diesel price.

A bench headed by Justice R M Lodha sought responses from various authorities, including Kerala State Road Transport Corporation and Uttarakhand State Road Transport Corporation.

The ministry of petroleum and natural gas had on January 17 decided to increase retail selling prices of diesel in the  range of 40-50 paise per litre per month (excluding VAT as applicable in different states/union territories) until further orders.

It had also decided to sell diesel to all consumers taking bulk supplies directly from the installations of the oil marketing companies (OMCs) at the non-subsidised  market determined price  with immediate effect and OMCs will not be eligible to any subsidy on such direct sale of diesel to bulk consumers.