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Govt to roll back fuel prices if crude rates dip

New Delhi: Government will roll back the Rs 4 a litre hike in petrol prices and Rs 2 a litre increase in diesel rates if international crude oil prices stabilise between USD 50 and 60 a barrel, Oil Minister Murli Deora said. "Yes, we will cut prices if crude prices stabilise for sometime between USD 50 an ....Read more

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fuel subsidyBy: A P MALLYA | Saturday , 18 Jul '09 15:18:19 PM Reply | Forward Subsidised kerosene and cooking gas is a good idea and necessary. however at present there is rampant black marketing and misuse of the concession. Govt should consider immediately measure to curb this tendency.Probably 1.Restrict number of gas ceylender per family per annum .or in the alternative they can consider giving cash subsidy per family so that they can buy cooking gas in open market.If these two items are properly handled then probably there should not be any difficulty in making fuel price market oriented.Duties and vat sales tax matter should be sorted out so that burden of these items is minimal.

Co-OrdinatorBy: VASUDEVAN | Saturday , 18 Jul '09 13:50:02 PM Reply | Forward An expert committee should be appointed to study the actual price of POL at every price of Crude in USD/Barrel giving a comparative table with market value (Petrol/Diesel/LPG) so that the Public could know the factual position. It is very difficult to believe the Petroleum Minister as he seems always favouring the Oil giants of India. I doubt the Fin Ministry supports to this formula, may be to gain more tax from the public. Also the Govt should disclose the ways of booking of crude from the crude Oil market/Companies. These things should be published in the media to make analysis by the Public.

The truth behind Oil pricesBy: Rajan K B | Saturday , 18 Jul '09 13:32:48 PM Reply | Forward National elections are over, and none in sight. Why should prices be brought down? We shall try to remember people (voters) after say FOUR years. The statement that "Oil companies are losing thousands and thousands of crores" is simply wrong. Let us see the published annual accounts of the major oil marketing companies in India, such as Indian Oil, BPCL, HPCL for the past THREE years. Extremely high rates of taxation is the real villain and not the "International" price.

REBy: PIYUSH | Thursday , 9 Jul '09 23:31:53 PM Reply | Forward Govt. will roll back the fuel price, if and only if election will be approaching

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