PM defends moderate hike in TV address
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05/06/2008
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Times Of India (New Delhi)
Says It Was Inevitable In Wake Of Global Spiral Pointing to a sharp escalation in global rise in oil p r i c e s and food and commodities, P r i m e Minister Manmoh a n Singh on Wednesday said that a rise in fuel prices was "inevitable' even as the government has done its utmost to impose only a "moderate' burden on the people. Speaking in a televised address, the PM said the global "oil shock' had imposed a huge burden on the government's finances and on the financial structure of oil companies. Despite the price of crude oil doubling in the last year, the rates of petrol and diesel had remained unchanged. Even now kerosene prices have been untouched for four years. The PM called on people to be more careful about the use of energy. "I urge every citizen to conserve energy at every step, every minute of the day. Be it petrol, diesel, kerosene, LPG, electricity or even water