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India, Malaysia raise gas prices for residents
Summary from the United Kingdom, from articles in English
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The Organisation for Economic Co-operation and Development (OECD) has said inflation remains a danger, as oil prices have shown a sharp increase. (article 4)
Rate rise? On Thursday evening US crude increased by $6.08 to $128.38 a barrel, wiping out two days of losses triggered by worries that high prices may hit global demand. (article 4)
India has raised fuel prices by 10%, the second such increase this year, because of the rising cost of oil. (article 1)
India imports nearly 75% of its crude oil requirements and controls the price of domestic fuel products to help contain inflation and protect the poor. (article 1)
Oil prices fell by more than $2 a barrel on Wednesday as latest figures showed US petrol reserves had risen more than expected. (article 3)
In London, Brent crude fell $2.82 to $121.76, while in New York, light, sweet crude dipped as low as $121.84. (article 3)
" The days of establishing new record prices appear to be temporarily over said Victor Shum, an energy analyst from consultancy Purvin and Gertz. (article 3)
Oil price rises are a sensitive political issue in India, where a marginal rise in the price of, say diesel, triggers off food and other commodity inflation. (article 2)
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Other summaries about this story:
Event tracking:
Story keywords
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oil, Prices, Gas, India, Gasoline |
Source articles
- India forced to raise fuel prices (BBC News, 06/04/2008, 414 words)
- India courts risk with fuel hike (BBC News, 06/04/2008, 732 words)
- Oil dips to $121 as reserves grow (BBC News, 06/04/2008, 191 words)
- OECD highlights inflation worries (BBC News, 06/05/2008, 262 words)
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blaster@cs.columbia.edu
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