India fuel price rise unlikely this week source
Tuesday, 27 May 2008

REUTERS, NEW DELHI - India is unlikely to raise fuel prices this week, a senior oil ministry official told reporters on Monday, despite pressure from oil companies which are losing millions of dollars a day due to surging crude prices.

"No decision is likely this week as the prime minister is unwell. There is no political consensus on price increase. Ministries are ready but politicians are not," the official, who did not want to be identified, said.

Facing a string of state elections this year and a general poll by next May, the Congress-led government is wary of raising prices and adding to already high inflation, which is ruling at its highest in 3-½ years.

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