It refers to regular fluctuation in prices of petroleum products in the country which some day increase and on another day decrease because of fluctuation in prices of crude-oil in the global market.
It is a usual phenomenon that prices once raised are never brought down with all benefits of lowering prices of petroleum products being grabbed by industry and owners of commercial vehicles. Instead of lowering prices of petrol and diesel, money so saved by government because of reduction of crude-prices should be accumulated in a reserve-fund to overcome future rise in crude-prices without raising further prices of petrol and diesel.
Meeting of finance ministers from all states should be convened for uniform tax-structure to have an uniform net consumer-prices of petroleum products throughout the country. Huge price-difference to tune of 10-20 percent in different states is unfair. Price so calculated should be rounded to next complete rupee in case of petrol, diesel, kerosene and CNG, while in case of cooking-gas, it should be in multiples of rupees fifty. This rounding-off can result in increased earnings for oil-companies. Moreover LPG-subsidy should be only for families with lower income. Large overheads and publicity-budget should be curtailed by merger of all public-sector oil-companies in one unified company.
Madhu Agrawal, Delhi
