UwidoNews

The Planning Commission on Friday said that decontrolling fuel prices would not flare up inflation rather it will soften generalised rise in prices.It (decontrolling fuel price) will not flare up the inflation. I just think that it is not sustainable to have prices those are not line with the world prices, the Planning Commission Deputy Chairman, Mr Montek Singh Ahulwalia, told reporters here.

Clearing smoke and and dawn's early light this morning revealed some details of the scene of Wednesday night's gasoline I-75 tanker explosion near 9 Mile that caused the overpass on the northbound side to collapse.

On March 3rd Gold fell for the eighth straight day, in its longest consecutive drop since June 2006. This is thought to be for several reasons. The first reason is that government efforts to stimulate the economy reduced fears of a worsening recession, thereby reducing demand for gold as a safe haven.

Crude oil fell for a fifth day as the dollar clawed higher against the euro, damping demand for commodities as an alternative investment.

The Kirit Parikh committee has recommended market-determined pricing for petrol and diesel. It has also recommended linking the price of domestic LPG and kerosene distributed through the Public Distribution System (PDS) to the increase in per capita GDP for urban population and agriculture GDP, respectively. Also Read Related Stories News Now-Govt tightens release norms for mills-PM asks states to act to check prices-Govt may decide on freeing petrol, diesel pricing this week-'We plan to acquire mid-size E

Gold prices gained sharply this week on fund buying and good demand in the physical market. Spot gold prices closed 5% up at $912 perounce against the previous week close. In the domestic market the MCX June contract closed up 4% at Rs 14,624 per 10 grams. Analysts expect the prices to remain firm with yellow metal trading above $900 mark and the negative outlook for the global economy.

Shares of Jet Airways were flying high after the airline hiked its fuel surcharge by Rs 400, leading to a rise in ticket prices.

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Home prices in May plummeted 15.8% from a year earlier, to 2004 price levels, wiping away four years of appreciation, according to the S&P/Case-Shiller 20-city home-price index released July 29.