Qatar's energy minister said crude oil prices, which have surged recently to record levels above 80 dollars a barrel, should be more than 100 dollars.

• "If we take into account inflation from 1972 to the present day, the real and fair price for oil should be more than 100 dollars," Abdullah bin Hamad Al-Attiyah said in remarks aired by Al-Jazeera television onfliesday.

He said such a price was justified by rising inflation, a fall in purchasing power and the weakness of the dollar, which has dropped about 10 percent in value against the euro over die past year.

His comments contradict those of OPEC chief Abdalla Salem el-Badri who said in September that current prices around 80 dollars did not reflect fundamentals and were unlikely to last long at that level.

On Tuesday, world oil prices continued their fall in Asian trade, with New York's main oil futures contract, light sweet crude for delivery in November, 17 cents lower at 78.85 dollars per barrel in afternoon trade.