Advertisement

India to weigh options over rise in crude

NEW DELHI, Jan. 8 (UPI) -- India has expressed concern over the rise in global oil prices, saying it is considering all options to handle the situation.

Indian Prime Minister Manmohan Singh said the government is considering all options to deal with the situation.

Advertisement

"We have to look at all the existing possibilities. I would not like to comment on it," he said.

The Petroleum and Natural Gas Ministry said a group of ministers on fuel prices, headed by Foreign Minister Pranab Mukherjee, would meet Jan. 17. This would be the group's first meeting after Singh set it up in November 2007.

Crude prices have fallen since they briefly touched $100 per barrel, but the $90-plus levels worry India, as three-fourths of the country's oil demand is met through imports, the ministry said.

"The group of ministers on fuel prices will meet on Jan. 17 to consider all options," said Murli Deora, the petroleum and natural gas minister.

Latest Headlines