Indian ministers fail to agree on fuel price rise

New Delhi, 18 Jan, 2008 : A meeting of Indian ministers, which had been widely expected to recommend a politically risky rise in retail prices of petrol and diesel, ended on January 17 without a decision. India caps retail prices of widely consumed fuels to protect the poor and keep inflation under control. No increase in petrol and diesel for around 18 months, has burdened state-run oil firms with huge losses as the price of global crude surged more than 50 percent in 2007 and went on to top $100 a barrel.

Submission | February 4, 2008

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