Decrying the hike in diesel prices as "unjustified" action, Tamil Nadu chief minister J Jayalalithaa on Tuesday demanded its roll back and withdrawal of powers granted to oil companies to regulate fuel prices.
"There was no justification to resort to diesel price hike when the prices of crude oil in the international market were decreasing and Indian rupee appreciating against the US dollar," she said in a statement.
The hike would result in increase in inflation, uncontrolled rise in price of essential commodities and increase in the cost of transport for poor and middle class people, Jayalaithaa said, demanding roll back in price hike.
Petrol price was on Monday cut by Rs. 3.05 per litre, while diesel prices were raised by 50 paise a litre.