What does the Oil Companies think even Petrol and Diesel price is hiked
CM (Commom People) of India has an burden when they are in India, it is nothing other than Petrol and Diesel price hike which happens every 2-3months in India. Diesel price hike is the root cause for all hike in commodities price which the common people use in day to day life like vegetables, fruits, milk, even water in some parts of India.We know India is an agricultural country and it is back bone too, (at the time of saying somebody). Now a days we dont find enough rain and agricultural lands are being converted as plots for sale and commercially India under pressure as agriculture is getting slow down day by day.
Government of India and ruling party has given the decision to hike the rates in Petrol as their own, but the Oil Companies are much worried as Diesel price hike also not given in their hand.If given to them common people of India cannot keep hands in their food due to price hike in all. Oil companies says that still they are under loss and they need more to hike still in Petrol and Diesel.
Oil Companies in India given an recent statement that they have loss of Rs1.78 lakh crores.Even Diesel price is hiked Rs.5/lit but also still they have an loss of Rs17.05/lit, the difference of Rs17.05/lit has been being given by subsidy to Oil companies and now they have been reduced in that. Even though rate hiked and INR vs USD price has been increased still they have an loss of Rs13.86/lit from the date of recent hike September14, 2012.
Above given data is for Diesel and but in general distribution of Kerosene loss is at Rs32.70 and LPG cylinder loss is Rs347 which is the losses occured in Oil Companies.The article I read is very funny that why and how these companies are being run in India in all time loss.Where does the profit goes and who is enjoying it? Public Sector Oil Companies like Bharath Petroleum, IOC, Hindustan Petroleum, ONGC has told that loss per day is Rs485 crore and in that Rs300 crore is only from diesel price which is sold at less rate in India.
If as said by the Oil Companies and current losses are being covered from rate hike so the price of the Diesel at current date may be maximum Rs68.50 and Petrol will be Rs92 it may be differed from cities.
Below given image is a small cartoon which on recent hike in Petrol.