• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Yet another Group of Ministers is being set up to consider the issue of retail prices of petroleum products. Several committees have been appointed to deal with the pricing issue.

The last was the Rangarajan Committee on Pricing and Taxation of Petroleum Products, which submitted its report in February 2006. It dealt with all aspects of pricing in a comprehensive manner and came out with sound recommendations.

The resistance to implementation is purely on political grounds.

The price of crude was $63.23/bbl when the Rangarajan Committee prepared its report. It has now shot up to near $100 levels.

Oil bonds to compensate the marketing companies for under-pricing postpones the day of reckoning, as the Committee has pointed out.

A. Seshan Mumbai

More Stories on : Letters | Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Empower them to compete

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line