INDIA

Indian drivers will pay 9 percent more for diesel and families will be charged an additional 17 percent for a cylinder of cooking gas...

In Malaysia, the price of 97 Ron grade gasoline will now be adjusted monthly to track global prices. The decision may spur inflation that quickened to a 14- month high of 3 percent in April, adding pressure on the central bank to start raising borrowing costs....
The state-controlled power producer Tenega Vasional Bhd, will be allowed to raise electricity prices in peninsular Malaysia starting July as it will have to pay higher prices for gas, Abdullah told reporters in Putrajaya, outside Kuala Lumpur.

Oil prices reached a record $135.09 a barrel in New York on May 22, driven partly by speculation fuel subsidies in Asia will spur demand. Fuel and food accounts for about 75 percent of household spending for poor families in Asia, according to the Asian Development Bank.

India also cut customs duties on gasoline and diesel by two thirds to 2.5 percent and scrapped a 5 percent import tax on crude oil. The measures are aimed at reducing revenue losses at state-run refiners that have reached more than $1 billion a week.

Today's price rises and duty cuts will pare losses for refiners led by Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. by about 420 billion rupees...
The government previously increased fuel prices in February, the first time since June 2006. Cooking gas prices had been capped since April 2005.