Rates Steady Amid Market Uncertainty

January 2008 | Market Strategy

Reports citing a senior source at the oil ministry state that, following complex discussions over the past few weeks, Indian officials have finally come to an agreement on raising oil prices. We have been mentioning for some time the government's need to reconsider administered fuel prices in the wake of rising oil costs, in spite of the dilemma it faces in reducing the burden on state-run oil firms, while taking political and inflationary pressures into consideration.

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