Prime Minister Manmohan Singh today said rising prices of fuel were a reality Indians needed to deal with as any more subsidies in the oil sector could destabilise the economy. The comment came days after Mamata Banerjee, his biggest ally at the Centre, warned that her Trinamul Congress would quit the ruling UPA if prices of kerosene, diesel and cooking gas were raised. Asked what he thought of the Bengal chief minister’s...

-The Deccan Herald   The Kerala High Court in Kochi on Friday observed that frequent hikes in the prices of petroleum implemented by oil companies in the country amount to slow poisoning of the public. The court expressed its sympathy for the plight of the common man. The common man is at the mercy of oil companies, observed a division bench headed by acting chief justice of Kerala High Court C N Ramachandran...

30 per cent of cars sold last year were with diesel engines The growing gap between the prices of petrol and diesel has given a boost to the sale of diesel cars even as environmentalists cry foul over the public health impact due to the increasing use of diesel, which is also referred to as “dirty fuel” in Indian cities. While petrol consumers are paying market-linked prices of Rs. 66.84 per litre...

-The Economic Times   Reacting strongly to the hike in the prices of diesel , kerosene and LPG, farmers across the country have contended it would have adverse affects on the agriculture sector and even prompt them to end their occupation. Petroleum Minister S Jaipal Reddy announced of a hike in the price of LPG (liquefied petroleum gas) cylinders by 50 rupees on Friday. Apart from the price of LPG, the federal government's...

-The Times of India   The proposed Food Security Act may not put additional burden on the government in the current fiscal year as the government can find the resources to fund the plan from the spending outlined for 2011-12 , finance ministry officials said. However, the food subsidy bill could soar to as much as Rs 75,000 crore from the estimated Rs 60,572.98 crore for the 2011-12 fiscal. Finance ministry...