India looking at ways to lower fuel consumption to stabilise economy

NEW DELHI (Reuters) - India is working out the details of measures aimed at lowering the nation's fuel consumption, Oil Minister Veerappa Moily said on Thursday after a meeting with the finance minister.

"We are all worried about the economic situation," he said.

Imports account for some 80 percent of India's crude oil needs, and are the main drivers of a gaping current account deficit that has helped undermine the rupee currency, which hit a record low of 68.8 against the dollar on Wednesday.

(Reporting by Krishna Das)