Even as American consumers are reeling from $4 plus a gallon prices, Indian consumers are still enjoying low fuel prices for petrol (about Rs 50 a litre for regular), diesel (about Rs 35 a litre for regular), kerosene and LPG, thanks to their government's populist measure of fixing prices at low levels.  Read

On May 7, the Forward Markets Commission suspended futures trading in four commodities: potatoes, refined soya oil, gram, and rubber, after the government expressed concern that speculation by traders and other middlemen was driving up spot prices, thereby exerting additional pressure on inflation.  Read

Last week, as part of his strategy to rein in inflation, Finance Minister P Chidambaram, called for an investigation into what he alleges is the cartel-like behavior of Indian steel and cement companies.  Read