Pricing of petroleum products needs serious consideration

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MADHU AGRAWAL

06 February, 2010

It refers to recommendations made towards rise in prices of petroleum products. For a stable economy, prices of petroleum-products do need regular updating in tune with global price-fluctuation of crude.

IT REFERS to recommendations made towards rise in prices of petroleum products. For a stable economy, prices of petroleum-products do need regular updating in tune with global price-fluctuation of crude. But Union government can and must take some steps which can provide relief to public by saving on hidden cost in distribution of petrol-products.

Large overheads and publicity-budget should be curtailed by merger of all public-sector oil-companies in one unified company.

Discounts on petrol purchased by affluent class through credit-cards should be abolished.

Meeting of finance-ministers from all states should be convened for uniform tax-structure (local and central) to have uniform net consumer-prices of petroleum products throughout the country.

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 rounded off to next ten-rupees. This rounding-off can result in increased earnings for oil-companies.

Only branded petrol and diesel should be sold initially in urban areas, and then throughout the country on all retail-outlets.

Since government is the largest consumer of oil-products, only small cars with low fuel consumption should be allowed to be purchased in public-sector. Even financing on cars by public-sector financial institutions should only be for small cars to promote cars with low fuel-consumption.