Minggu, 01 September 2013

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India ponders fuel sale ban at night

A no petrol sign outside a fuel station in IndiaFuel demand in India has risen in recent years as its economy has expanded

India is considering a proposal to shut fuel pumps at night as it looks at ways to cut its oil import bill, its oil minister Veerappa Moily has said.

Mr Moily said the idea was one of many options the government was considering.

India's oil imports are one of the biggest contributors to its widening current account deficit - a key area of concern for policymakers.

Mr Moily said his ministry would also launch a conservation drive later this month to try to cut fuel demand by 3%.

The Press Trust of India (PTI) news agency said that cutting down demand by that amount would help save an estimated 160bn rupees ($2.4bn; £1.6bn) in foreign exchange outflow from the country.

"There are various options and ideas that have been floated," Mr Moily was quoted as saying by the PTI news agency.

"Shutting petrol pumps during night is one of them. But we have not decided. It is just a proposal," he added.



Source: BBC News - Business http://www.bbc.co.uk/news/business-23925199#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa