“”I don’t see the need to raise fuel prices “- Rao
Posted by Spondita on 21 October, 2009
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If global prices for fuel stabilize between $70 and $75 a barrel, eqivalent to Rs.3,150-Rs.3,375 INR, then chances are that there will be no hikes in fuel prices. “I don’t see the need to raise prices if international crude prices remained around $70 to $75 a barrel,” commented Govind Rao, a member of the Prime Minister’s economy advisory panel.
Looking at the current records, fuel price is currently stable at $79 a barrel which is higher than the expected figure to keep it in check.
India Government had already hiked prices of petrol and diesel by Rs.4 per litre and Rs.2 per litre respectively, this august, as per the budget.
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