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Jul 1, 2011

UPA Govt.: Oil Is Well?

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Editorial: To start with, it sounds good when you listen: All Is Well! But, it sounds odd when you hear 'Oil Is Well'. It's because, the present scenario is something parallel to that.

In India, petrol price hiked by Rs. 5 in mid May 2011. Diesel price hiked by Rs.3 in June, so LPG and Kerosene by Rs.50 per cylinder and Rs. 2 per liter, by the UPA government, citing it need to tackle the loss of oil companies at the cost of people's budget.

Again on Thursday, 30 June, the price of petrol and diesel rose by Rs.0.27 and Rs.015 paise respectively.

On the contrary, the Pakistan government has slashed price of petroleum prices by Rs.3!!!

The international oil prices are not high like it was in 2010. But the calculation of the dollar per barrel is mismatching in India. Yes, that is right.

If one calculates the what the volume of barrel stands for at the price of the mentioned the dollar, and if that is converted into Indian price, the price of petrol or diesel should be less.

In that scenario, people of India are paying high price for petroleum products only to make the loss making oil companies to fit?

People of the country are not responsible for the loss incurred by the oil companies. And that is not applicable to private companies. If a private company suffers loss, then it can make its products dear, and the government will also allow it to do so.

The are alternative ways the government could try to ease the burden on the common people. Due the inflation and soaring food inflation, the budget of the people has been affected.


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