RBI Governor, FM out of sync on oil shock

The unprecedented oil summit in Jeddah seems to be of little help as far as oil prices are concerned. Crude oil continues to inch closer to the 140 dollar a barrel mark but back in India, the finance minister and the RBI Governor are out of sync over fuel prices. "Last time I spoke about inflation was around budget. That time crude was 100 dollars. No one in his wildest dreams anticipated this. Since then it has gone up by 40 per cent, said P Chidambaram, Union Finance Minister.