Can the petrol prices come under purview of National Anti-Profiteering Authority
The prices of petroleum products like petrol, diesel or LPG has always been hot subjects. Recently there have been debates on various social media like face book, whattsapp, that the price increase by UPA Govt was much hgher than price increase by BJP Govt. Few have also stated that Modi ji has just increased the prices of petrol By Rs. 4/- per litre in its 4 years rules i.e on an average Rs. 1/- per litre per year as compared to UPA govt which had increased the prices by more than Rs. 30/- it its kingdom.
The prices of petrol and diesel are fixed based on international prices of crude oil. During Congress rule the International price of crude oil as on 13th May 2014 was US$ 105.71 and petrol was being sold at Rs. 77.17 per litre in the Indian market. The International prices of crude oil now on 23rd May 2018 was US$ 77.04 and petrol price was Rs. 77.17 per litre. Whereas the prices of the petrol have been increasing since take over of the BJP Govt due to continuous reduction in the prices of crude oil internationally and for which Modi ji also claimed that he is "khushnaseeb" and UPA was "badnaseeb", mathematically the prices should have been reduced instead of increasing.
Mathematically the ratio of petrol price to crude oil prices increased from 0.6755 to 1.0017.
As per above, in mathematical equation, the prices of petrol as per International prices of crude oil should have been Rs. 52 per litre as on 23rd May 2018 instead of Rs. 77 per litre I.e. each of us are paying Rs. 25 per litre extra in the BJP ruled Government and the supporters just say Modi Govt increase the prices in 4 years by just Rs. 4 per litre as compared to actual increase of Rs. 25 per litre in 4 years rule of Modi ji Govt. if the prices are fixed on the basis of international prices. In other words the profit of petrol business has been more by Rs. 25 per litre. This is purely an act of misleading the Indian citizens. Whereas Govt says it has no business in the price fixation, three PSUs are openly deciding the prices in cartelization.
The calculation by this formula is 71.41÷105.71×77.04= Rs. 52 per litre. Correct me if I am wrong. I do not know whether this falls under the purview of anti-profiteering Act or not and whether National Anti-Profiteering Authority can take any action , but it is sure that we citizens are being subjected to be getting misleaded. more
The prices of petrol and diesel are fixed based on international prices of crude oil. During Congress rule the International price of crude oil as on 13th May 2014 was US$ 105.71 and petrol was being sold at Rs. 77.17 per litre in the Indian market. The International prices of crude oil now on 23rd May 2018 was US$ 77.04 and petrol price was Rs. 77.17 per litre. Whereas the prices of the petrol have been increasing since take over of the BJP Govt due to continuous reduction in the prices of crude oil internationally and for which Modi ji also claimed that he is "khushnaseeb" and UPA was "badnaseeb", mathematically the prices should have been reduced instead of increasing.
Mathematically the ratio of petrol price to crude oil prices increased from 0.6755 to 1.0017.
As per above, in mathematical equation, the prices of petrol as per International prices of crude oil should have been Rs. 52 per litre as on 23rd May 2018 instead of Rs. 77 per litre I.e. each of us are paying Rs. 25 per litre extra in the BJP ruled Government and the supporters just say Modi Govt increase the prices in 4 years by just Rs. 4 per litre as compared to actual increase of Rs. 25 per litre in 4 years rule of Modi ji Govt. if the prices are fixed on the basis of international prices. In other words the profit of petrol business has been more by Rs. 25 per litre. This is purely an act of misleading the Indian citizens. Whereas Govt says it has no business in the price fixation, three PSUs are openly deciding the prices in cartelization.
The calculation by this formula is 71.41÷105.71×77.04= Rs. 52 per litre. Correct me if I am wrong. I do not know whether this falls under the purview of anti-profiteering Act or not and whether National Anti-Profiteering Authority can take any action , but it is sure that we citizens are being subjected to be getting misleaded. more
Viewed by 2526
View all 41 comments Below 41 comments
Petrol Excise is the biggest source of Govt to run the Welfare scheme. If price is cut down, obviously the welfare scheme for Poors will be curtailed. Which no government wants to do it. more
Jul 18
NO. it is out out of it, that is why the Petroleum companies can earn such a HUGH profit else they would have starved more
Jun 23
@Shri Choppa Ji, Sir thanks for your sharing of such an important information. Yes, it is a systematic plan to increase the prices without being noticed. This political party in Government has expertise to plan such sinister plans. The panning is to such an extent election in one state on a particular day, the rally or mandir visit being under live coverage in other state/city/country on the same day of voting to avoid direct violation of model code of election. This is basically because our 4th pillar of democracy has crashed under the weight of money. more
Jun 22
