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Indian ministers to meet after jet fuel price hike

Mon Jun 2, 2008 7:06am EDT

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NEW DELHI, June 2 (Reuters) - Indian Civil Aviation Minister Praful Patel on Monday said he would meet Finance Minister Palaniappan Chidambaram next week after a rise in jet fuel prices.

State-run Indian Oil Corp (IOC.BO) has raised jet-fuel prices by 18.6 percent, effective from June 1. Domestic prices, as offered by the firm, have gone up about 89 percent from June last year.

Jet fuel accounts for 40 percent of the operating cost of Indian carriers. (Reporting by C.J. Kuncheria, Editing by Mark Williams)



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