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PETROLEUM MINISTRY SEEKS SPECIFIC STEPS TO CHECK OIL PRICE VOLATILITY (oil prices have surged following mounting hostilities in the Middle East).

India Business Insight

| April 03, 2002 | COPYRIGHT 2001 Silverline Information Systems Pvt. Ltd. (Hide copyright information)Copyright

The Ministry of Petroleum, Government of India, has requested the Ministry of Finance to introduce specific duties on petrol and diesel. This in order to take preventive measures before domestic prices go out of control, now that the administered pricing mechanism has been dismantled.

International oil prices have turned volatile and prices have surged following mounting hostilities in the Middle East, and Iraq threatening to stop oil exports to …

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