Even with the Government refraining from increasing domestic prices of petroleum products due to political considerations, the Planning Commission on December 4th made a case for passing them on to the consumers. According to the Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, it was not a good idea to check inflation by keeping prices of petroleum products low.
While consumers in the United States struggle with rising fuel prices, Venezuela's gasoline the cheapest in the world at 12 cents per gallon. Venezuelan President Hugo Chavez, a fierce...
Commuters had an unpleasant surprise Wednesday morning as prices at the gas pumps spiked as high as $1.20 a litre in response to high oil prices. Gas prices soared on average to $1.10 a litre...
Venezuela's President Hugo Chavez arrives in Iran with a blunt warning to Washington: - more aggression in the Middle East will drive oil prices through the roof. Chavez arrived in Tehran on the...
Euro zone inflation slowed in April boosting the case for eventual ECB rate cuts. Consumer prices in the 15 countries using the euro rose 3.3 percent year-on-year in April, down from a record of...
Asia stocks dropped for a fourth consecutive session on Wednesday with sky high oil prices and inflation woes punishing markets across the region. Japan's Nikkei fell 1.3 percent (13,286 ) with...
High fuel and food prices sparked a pick-up in German inflation in May, stoking euro zone price pressures and strengthened the case for a rise in interest rates by the European Central Bank. ///...
China unexpectedly raised retail gasoline and diesel prices by up to 18 percent on Thursday (June 20), the sharpest ever single increase. It is the country's first hike in eight months and...
Asia stocks slid on Monday with investors worried about rising inflation and sluggish U.S. economic growth. Japan's benchmark Nikkei fell 2.3 percent (13,690) its biggest fall in six weeks....
Oil prices surged nearly $5 to a record near $134 a barrel on Wednesday (May 21) after a U.S. government report showed a surprise drop in crude stockpiles, reinvigorating fears of a supply crunch....
European shares hit their lowest level since March 31 (2008) as leading U.S. stock market indexes fell in early trading. Royal Bank of Scotland lost 9.7 percent after saying results would be held...
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