Diesel prices are now de-regulated in India. The Union Finance Minister Arun Jaitley has made this announcement this evening. He said that as the international crude prices have fallen, the country is de-regulating diesel prices and aligning it to the market price. Over the last five years, the diesel prices have increased by 50 paise every month. Recently RBI governor Raghuram Rajan has asked the Central Government to grab the opportunity of de-regulating diesel prices in view of the falling international crude prices. Deregulation is likely to bring private firms such as Reliance Industries and Essar Oil to enter retail sales.