Friday, June 1, 2012: Petrol prices may be revised today with companies talking about a scope of cutting rates by Rs1.50-1.60 a litre.On a day when BJP-led NDA and the Left parties called a Bharat Bandh or a nationwide street protests against petrol price hike, the government appeared in no mood to announce a cut. Indian Oil, Hindustan Petroleum and Bharat Petroleum had over the past one week indicated of a scope of reducing rates from June 1.
The three firms, as per practice, were to revise rates of petrol today based on average international oil price and rupee-US dollar exchange rate in the previous fortnight.
With international gasoline rates, against which petrol is benchmarked, falling to USD 114-115 from USD 124 (that was taken into account for the steep Rs 7.54 a litre hike effected from May 24), there existed a scope for reducing prices by Rs 1.50-1.60 a litre.
1 comment:
Petrol price must be brought down to revitalise the economy. Better management strategy is required . If petroleum companies do not have such talent , they should immediately hire one. The job description of top executives should be re difined and assesed. I know a area sales manager of a top petroleum company in Palakkad who comes to each petrol pump just for sending some courier ( which he puts to the account of the pump owner ) . He acts as if he generates the sales of the pumps eventhough he does not even know the names of regular clients. In general he is doing side business and making extra money during office hours . The management has to decide whether such executives should be employed. I am sure he is not only the one but many. If these executives are removed , their salary figure only can be taken into account to reduce the overheads .
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