Interestingly, Government wants us to believe that public sector fuel retailers BPCL and HPCL are losing money on sale of petrol, diesel and other petroleum products.
So Government has decided to raise the petrol price by Rs2.00 and Diesel price by Rs 1.00
The ill informed democracy that we are, government is not backing its statement with data.
I, on my part, cant seem to understand as to why BPCL and HPCL should be losing money when actually the prices of Petrol and Diesel are much higher in India than in countries like USA (Average price being $2.5/gallon or Rs 33/Liter). The crude oil prices are fixed internationally, that means the crude oil price for US and other international companies is same as for Indian state run fuel companies. Then why, while Exon Mobile, Shell and other companies are racking up millions of dollars every year, Govt. wants us to believe BPCL and HPCL are losing money??? The logic would indicate that these companies should be twice as profitable as Exon Mobile, Shell etc., given the higher price that they get for their products and lower labor cost here in India, with same raw material (crude oil) cost.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment