Jan. 3 (Bloomberg) -- India's government may raise prices of auto fuels for the first time in 18 months, said M.S. Srinivasan, secretary at the oil ministry.

The government may consider the increase after Jan. 8, Srinivasan told reporters in New Delhi today.

Crude oil traded near a record in New York after reaching $100 a barrel for the first time yesterday on concern violence in Nigeria may further cut output in Africa's biggest oil producer.

Controlled fuel prices are straining finances at Indian Oil Corp., the nation's biggest refiner, and its counterparts that are forced to sell gasoline, cooking oil and diesel at below-market prices.

To contact the reporters on this story: Manash Goswami in New Delhi at mgoswami@bloomberg.net;

Last Updated: January 2, 2008 23:46 EST