i Develop Stocks Advisory: Deora says need to raise fuel prices

Monday, June 7, 2010

Oil Minister Murli Deora said on Monday the government should raise state-set fuel prices as retailing firms were suffering losses.

The fuel pricing system is scheduled to be reviewed at 4:30 p.m. (1100 GMT) by a panel of ministers led by Finance Minister Pranab Mukherjee.

Deora did not say what the panel may decide.

GMT+5:30	Event	Vol.	Actual	Consensus	Previous
Thursday, Apr 17
01:30	Net Long-Term TIC Flows	1	$112.0B	$35.2B	$-42.2B	Revised from $-45.2B
01:30	Total Net TIC Flows	1	$284.7B		$-46.6B	Revised from $-48.8B
04:15	Consumer Price Index (QoQ)	3	0.9%	0.7%	0.5%
04:15	Consumer Price Index (YoY)	3	2.5%	2.3%	2.2%
04:30	Fed's Schmid speech	2
07:00	National Australia Bank's Business Confidence (QoQ)	2			-4
07:00	Participation Rate	2		67.0%	66.8%
07:00	Employment Change s.a.	3		40.0K	-52.8K
07:00	Full-Time Employment	2			-35.7K
07:00	Unemployment Rate s.a.	3		4.2%	4.1%