Posing In Petroleum Rising
Letter to the Editor Hindustan Times/Times of India
As a petrol deficient county which depends on import with a rising consumption level, price rise in refined products to match rise in CIF price of petroleum crude is inevitable. Yet the increase or cost of production, between the CIF price and ex-refinery price per litre of various products is carefully hidden from the public eye. This should be revealed. Secondly, both petroleum and cooking gas are essential articles. The customs and excise duties as well as the sales tax should be lowered and fixed on unit and not as cost percentage thereof.
Thirdly price rise should be regulated in step with rise in average price of crude, say of $ 5.00 and not introduce in a fit of adhocism. Finally, the Government should stop administering retail oil prices but establish an autonomous regulatory commission to stop unjustified hike by importers of crude, the refineries and the tax authorities