January 3, 2008 / 8:48 AM / 12 years ago

Decision on fuel prices likely in Jan-India oilmin

NEW DELHI, Jan 3 (Reuters) - India’s oil minister Murli Deora said on Thursday that a decision on whether to raise fuel prices would probably be taken by the end of this month.

Earlier he had said that duty cuts were also possible as the government looks to trim the losses of state oil firms from the sale of discounted fuels at a time when global crude rates have soared to $100.

On Wednesday, a senior official in the oil ministry said a moderate increase in prices was likely in early February after a group of ministers tasked with studying the pricing of key commodities meets. (Reporting by Nidhi Verma, Editing by Mark Williams)

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