PROFITEERING BY OIL MARKETING COMPANIES
OIL MARKETING COMPANIES (OMC) ARE INDULGING IN PROFITEERING. THEY'RE QUICK TO REVISE THE PETROL/DIESEL PRICES UPWARD AS SOON AS THE CRUDE PRICES INCREASE.
BUT THEY'RE NOT KEEN TO REVISE DOWNWARD WHEN CRUDE
APART FROM CRUDE PRICES FALLING DOWN, THE EXCHANGE RATE IS ALSO GETTING FAVORABLE, HENCE OMC ARE CURRENTLY ENJOYING DOUBLE WHAMMY.
DESPITE THESE DOUBLE BENEFICIAL FACTORS, THE PRICES OF
PETROL/DIESEL HAVE NOT COME DOWN COMMENSURATE WITH THE FALL IN CRUDE & EXCHANGE RATE.
GOVERNMENT SHOULD INTERFERE & PROVIDE SOME RESPITE TO THE COMMON MAN. more
I think the price is completely formula based. It keeps fluctuating on the basis of dollar rates and crude prices. more
But we never knew at what price oil companies are buying crude and we never know what is the FORMULA to calculate the oil products prices. more
sir, downward trend has already begun, since last month with drop in oil price. more