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
PRICES FALL.
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  
Post a Comment

Related Posts

    • Is ITC profiteering

      Fiama di willis brand of ITC cool burst men shower gel. MRP before rate reduction 199. Same after rate reduction. Yesterdays screenshot. The MRP should have been reduced to 185 or so. If ITC type...

      By Garima Sharma
      /
    • Adidas profiteering more example

      Something is definitely wrong. 2 screenshots of nov 2017 and one recent of 2019. 190 MRP should have been 175 after rate reduction but instead 200.

      By Garima Sharma
      /
    • Unilever clearly profiteering

      Here see how unilever has been profiteering. The product in 11/17 pre gst rate reduction on cosmetics was having MRP 199. Even now the same product (ydays screenshot) has MRP 199 while gst rate has...

      By Garima Sharma
      /
    • GST by OYO

      I had booked a room through OYO ROOMS. while checking in I had asked hotel that I need a Tax Invoice with our company's GST number. They had confirmed it to be Fine. While checking out I had been t...

      By Desh Malhotra
      /
    • Biotique company may also be profiteering

      See screenshot of product made in 09/17 had MRP 180. Despite gst rate dropping from 28% to 18% on cosmetics the mrp in 2019, this morning - big basket is 180. The mrp should have been around 165....

      By Niharika Jain
      /
    • Is this profiteering

      Himalaya anti wrinkle cream earlier had price of 250 MRP and i thought gst rate on cosmetics was changed by finance ministry to 18% Should the mrp have reduced from 250. The first product is 201...

      By Niharika Jain
      /
    • HUL short film on water scarecity

      HUL is now airing a rather derogatory short film about their concerns for the rural poor. Water scarcity is severe across the country including urban centres and remote rural areas. But this film...

      By Ramesh Muthya
      /
    • Profiteering Builders

      Can the anti profiteering authority please share list of all builders against who orders have been issued. Would be great if we can get names so many more consumers can pursue them for their refund...

      By Ajay Dutta
      /
    • Potential Profiteering by Watch companies

      Govt of India reduced gst on watches from 28% to 18% However most of the watch makers/importers have failed to pass on the GST. Infact prices of watches have actually been increases twice forget ...

      By Sridhar Mohan
      /
    • The Thugs of Real Estate

      Director General of Anti-Profiteering (DGAP) is said to be investigating over 50 real estate firms for indulging in profiteering under the Goods and Services Tax (GST). The agency found that 60 per...

      By Ajay Dutta
      /
    • Industry Lobby actively working against Anti-Profiteering authorities

      Today's business standard paper has an article where the opinion giver is talking how Govt should not renew the term of Anti Profiteering regulator and market forces are best to manage profiteering...

      By Sridhar Mohan
      /
Share To
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)