Sunday, July 13, 2008

India to raise oil prices for the wealthy


India may ask its affluent classes to pay more for gasoline and diesel fuel if the global crude price increases.
The deputy chairman of India's planning commission, Montek Singh Ahluwalia, said car users, especially those belonging to the affluent classes, should be ready to pay more money for fuel.He said there is no magic bullet with the government. "If import prices increase, we cannot insulate domestic consumers indefinitely," Ahluwalia told a news channel in an interview.
The second-in-command at the plan panel said the government did not want to shock the general consumers too much.