Topic: Fuel Economy - High oil prices pose risk for India policy, economy - Reuters India

NEW DELHI (Reuters) - India’s foot dragging over ways to limit losses at state-run oil refiners who are selling cheap fuel at a time when global crude is at giddy new highs poses a risk for public finances and the booming broader economy. Bleeding more than $50 million a day, firms like Indian Oil Corp are in dire need of rescue but a government facing elections in a key state in December is shying away from the most obvious response — a hike in state-administered fuel prices. On Monday, Oil Minister Murli Deora said officials were attempting to minimise any rise in fuel rates when it does respond — maybe this week — but analysts said other approaches were not risk free. Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. read more

[Tags]news, reuters, , oil, prices, crude, fuel economy[/Tags]

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