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This story is from July 21, 2006
Petro pricing is distorted: IOC chairman
IOC chairman Sarthak Behuria says then with an increase of Re one per litre in the price of kerosene, the price of petrol and diesel may fall by four to five rupees.
If one goes by what the IndianOil Corporation (IOC) chairman Sarthak Behuria says then with an increase of Re one per litre in the price of kerosene, the price of petrol and diesel may fall by four to five rupees.
Talking to TOI on Thursday, Behuria said: "Going by the current spot prices of crude petroleum in international market, we are already losing Rs 4.50 per litre on petrol, Rs 7.70 on diesel, Rs 18.00 on kerosene and Rs 114 per LPG cylinder.
If the government allows us to increase the price of kerosene by just a single rupee, which comprises the bulk of our production and sale volume, we will end up making Rs 1,000 crore. This can easily be passed on to the users of petrol and diesel."
Behuria was also not happy about, what he called a 'distorted' pricing of petroleum products by the state governments. "At present, there is heavy trade tax levied on petrol and diesel by state governments.
If all the stake holders could sit together and work out a more convenient pricing formula, the end customer will be
benefited," he said.
End of Article
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