PM to explain fuel price hike

Indias Prime Minister Manmohan Singh addressed the nation on June 4 to explain the rationale behind hiking petrol and diesel fuel prices by Rs5 (US$0.12) and Rs3 (US$0.07) a liter, respectively, in addition to an increase of Rs50 (US$1.17) per cylinder of cooking gas. The move follows a slew of measures decided by the Union Cabinet to tackle the crisis created by surging global oil prices that had peaked to more than US$135 a barrel. “We need to learn to adjust to this new international scenario…There are limits to which we can keep consumer prices unaffected by rising import costs, he said. (June 4, 2008)