Oil min says no plans to hike fuel prices - report
NEW DELHI (Reuters) - The government has no plans to raise fuel prices in the near future and a call would be taken once the global crude prices stabilise, the Business Standard newspaper reported on Monday, quoting Oil Minister Murli Deora.
"There is no need to talk about revision just now. Let the prices stabilise first," the paper cited Deora as saying on Sunday in Mumbai.
Oil rose above $74 a barrel on Monday, trading near a 10-month high, amid increased optimism energy demand will rebound as the U.S. economy heads for a recovery, while a storm off eastern Canada also lent support.
U.S. crude for October delivery rose 36 cents to $74.25 a barrel by 0359 GMT.
Last month, India raised petrol and diesel prices by as much as 10 percent when global crude prices were hovering around $70 a barrel.
(For more news on Reuters Money click in.reuters.com/money)
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