India is reviewing its policy of deregulating diesel prices for bulk consumers introduced in January 2013 after bulk sales have dropped as those consumers shifted to the retail sector, a senior oil ministry official said Thursday. “Bulk diesel sales have dropped dramatically and [as a result] subsidies have increased,” Petroleum Secretary Vivek Rae said. Rae was speaking on the sidelines of a Petrotech 2014 pre-conference session in New Delhi. India in January 2013 allowed oil companies to raise diesel prices each month by Rupees 0.50/liter in the retail sector but announced deregulated prices for bulk consumers. Bulk consumers include state-run bus transport corporations, the Indian Railways, and small and medium-size enterprises that use gasoil to run their facilities. They buy gasoil directly from refineries. The Petroleum Planning and Analysis Cell, which is a part of the oil ministry, in a November report on […]