ECONOMY MINISTER SUGGESTS THAT GOVT INCREASE OIL PRICES

ZAGREB, Oct 15 (Hina) - Croatian Economy Minister Nenad Porges on Friday said he signed a document approving an increase in the prices of oil products and forwarded it to Premier Zlatko Matesa and Finance Minister Borislav Skegro, who are to decide about the document. Porges did not want to comment on any figures regarding the possible increase of the prices of oil products. However, he said the increase suggested by his ministry was lower than the increase requested by the Croatian oil company Ina. Ina requested a 13.4 to 16.7 increase of the prices of oil products on September 15. Should the Government approve the increase, it would be the third correction of the prices of oil products since the beginning of this year. The first correction in July increased the prices of petrol by 3%, of diesel by 1.4%, whereas the second correction of August 8 increased the prices of motor oil by 4% and of diesel by 3.8%. Since the beginning of this year, Ina has sent 11 proposals requesting increases in the prices of oil products because of increases in the price of oil on the world market. The company claims that it has incurred a loss of some 330 million kuna (a little more than US$47 million) due to untimely and inadequate price corrections. (hina) jn rml