India may hike prices
Source: Agencies |
May 16, 2011, Monday
|
Print Edition
Print Edition
AN Indian ministerial panel is to decide on hiking fuel prices next week, local media reported yesterday, a day after state-run oil firms raised petrol prices by a record amount as the government risks fuelling high inflation as it battles to bolster public finances.
The group of ministers tasked with discussing an increase in diesel, LPG and kerosene prices had previously postponed its meeting as the government looked to defer a decision until after the results of recent state elections.
State-run oil firms raised petrol prices by 5 rupees (11 US cents) a liter at midnight on Saturday, two days after the ruling Congress party-led coalition survived a major voter backlash in five state elections.
(Reuters)
The group of ministers tasked with discussing an increase in diesel, LPG and kerosene prices had previously postponed its meeting as the government looked to defer a decision until after the results of recent state elections.
State-run oil firms raised petrol prices by 5 rupees (11 US cents) a liter at midnight on Saturday, two days after the ruling Congress party-led coalition survived a major voter backlash in five state elections.
(Reuters)
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