Financial Daily from THE HINDU group of publications
Friday, Jun 09, 2006
Financial Daily from THE HINDU group of publications Friday, Jun 09, 2006 |
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Opinion
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Letters Oil prices
The oil marketing companies are reported to have sustained huge under-recoveries due to the spiralling crude prices. But according to the latest published financial results, many oil majors seem to have comfortable reserves and made profits, even if on a modest scale. How, then, can the price hike be justified? The Rangarajan Committee on petro prices has stated that the BPL households constitute hardly 10 per cent of the total domestic LPG consumers and the rest are non-poor consumers. Use of LPG as fuel for cooking by BPL families when a refill costs around Rs 293 would be a luxury which they can hardly afford. The prices are not affordable by even the lower-middle class and the lower strata of the middle class leave alone the BPL. T. R. Anandan Coimbatore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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