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Monday, February 15, 2010

Petro Ministry pressing for deregulating fuel prices

The Petroleum Ministry is pushing for freeing petrol and diesel prices from government control and is awaiting political consensus on the issue to implement it.

The ministry is also proposing a marginal hike in domestic LPG and kerosene prices, ministry sources said.

If implemented, petrol and diesel prices would be changed on the first of every month based on the average international price in the preceding 30 days.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 12
11:30 Index of Services (3M/3M) 1 0.6% 0.7% 0.7%
11:30 Manufacturing Production (YoY) 1 0.4% 0.4% -0.8%
11:30 Industrial Production (YoY) 1 -0.3% -0.2% -0.7%
11:30 Industrial Production (MoM) 2 -0.6% -0.5% -0.7%
11:30 Manufacturing Production (MoM) 2 -0.9% -0.8% -0.8%
n/a NIESR GDP Estimate (3M) 1 0.6%
18:00 Producer Price Index (MoM) 2 0.2% -0.5%
18:00 Producer Price Index ex Food & Energy (YoY) 3 3.1% 3.1%
18:00 Producer Price Index ex Food & Energy (MoM) 2 0.3% -0.4%
18:00 Producer Price Index (YoY) 2 2.6% 2.4%
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