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Monday, June 7, 2010

Deora says need to raise fuel prices

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.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jul 18
01:30 Net Long-Term TIC Flows 1 $259.4B $-8.2B Revised from $-7.8B
01:30 Total Net TIC Flows 1 $311.1B $-14.6B Revised from $-14.2B
04:00 Fed's Waller speech 2
08:30 Credit Card Spending (YoY) 1 0.9% 2.0% Revised from 2.2%
17:30 Fed's Waller speech 2
18:00 Housing Starts Change 1 -9.8%
18:00 Building Permits Change 1 -2%
18:00 Housing Starts (MoM) 2 1.300M 1.256M
18:00 Building Permits (MoM) 2 1.390M 1.394M Revised from 1.393M
19:30 UoM 5-year Consumer Inflation Expectation 2 4%
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