COMMODITIES news

Relentless fuel price hikes: Profiteering by oil marketing companies or govt?

Had the Centre (and some states) hiked the taxes steeply when crude remained benign, the OMCs could have easily made the same margins as now

Hikes in auto fuel prices for 20 days in a row raised many eyebrows. However, the rate of increases has been in sync with the Indian basket of crude (which gets reflected on OMCs’ cost with a fortnight gap through trade-parity formula of product prices). Of course, had the Centre (and some states) hiked the taxes steeply when crude remained benign, the OMCs could have easily made the same margins as now, with lower prices to consumers.

Related News

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Source

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *