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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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GMT+5:30 Event Vol. Actual Consensus Previous
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19:30 ISM Services Prices Paid 2 67.5 68.7
20:00 EIA Natural Gas Storage Change 1 55B 48B 96B
20:30 Fed's Bostic speech 2
21:00 4-Week Bill Auction 1 4.24% 4.00%
22:30 Baker Hughes US Oil Rig Count 1 425 432
Friday, Jul 04
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11:15 Unemployment Rate s.a (MoM) 1 2.9%
14:00 S&P Global Construction PMI 1 48.5 47.9
20:30 BoE's Taylor speech 2
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