-The Times of India The government on Thursday approved a steep hike on diesel price in a politically risky move to rein in the fiscal deficit. The cabinet committee on political affairs approved the hike in a meeting at the Prime Minister's residence. The price of diesel is hiked by Rs 5. However, the price of PDS kerosene and petrol were left unchanged. The panel also restricted the number of subsidized LPG...

-NDTV The Congress is not in favour of a petrol price hike anytime soon, sources have told NDTV. The party's core group met this evening and discussed the issue, sources said. Oil Minister Jaipal Reddy, who is not a part of the core group, was also present at the meeting. Just a few hours, before the meet, Mr Reddy had said the "painful duty" of a hike in fuel prices cannot be...

-The Times of India State-owned oil marketing companies (OMCs) are all set to increase price of petrol by Rs 5 a litre with effect from Saturday, while the prices of diesel, cooking gas and kerosene will be increased next week once Congress president Sonia Gandhi returns after her medical checkup on September 10. A cabinet note on increasing the prices of sensitive petroleum products like diesel, cooking gas and kerosene has already...

-The Guardian A spike in prices caused by poor harvests and rising demand is an apt moment for the west to reassess the wisdom of biofuels The last decade saw the end of cheap oil, the magic growth ingredient for the global economy after the second world war. This summer's increase in maize, wheat and soya bean prices – the third spike in the past five years – suggests the era of...

-The Hindustan Times Following a steep fall in global Crude oil prices, the oil marketing companies have slashed petrol prices by Rs. 2.46 to Rs. 3.22 a litre — the second reduction this month — from Thursday midnight. Now, petrol in Delhi will cost Rs. 67.78 a litre — down by Rs. 2.46 — from Rs. 70.24 a litre. In Mumbai, the price will come down by Rs. 3.10 to Rs. 73.35...