Re: [HumJanenge] Current dissatisfaction with increase in Petrl prices

Sir, It is a profit making company, regularly declaring handsome dividends. Its EPS ratio is 30.67, that signifies a healthy unit like all Govt undertakings. Five times raising petrol prices in a year is like 'robbing Peter to pay Paul'. Brig (retired) NP Manaktala;npmanaktala@yahoo.com --- On Sun, 11/6/11, Joshi NM <naishadhjoshi@gmail.com> wrote: From: Joshi NM <naishadhjoshi@gmail.com> Subject: Re: [HumJanenge] Current dissatisfaction with increase in Petrl prices To: humjanenge@googlegroups.com Date: Sunday, November 6, 2011, 12:11 PM Hello mksinghal, You have raised sound issues on transparency in oil prices in public interest. Kerala High Court & competition commissioners are admitting petition on the issue. Audited accounts of all Oil Manufacturing Companies (OMV) are uploaded and available on on respective website. I have downloaded audited accounts of all OMCs for last three financial years. For your kind perusal, a sample IOC 2010-2011 audited accounts is enclosed herewith as a link: http://www.iocl.com/Uploads/annual/IOC_Annual_Report_2010_11.pdf  This may be a starting point for further public scrutiny. Regards, -Joshi NM On 5 November 2011 20:59, M K Singhal <mk.singhal@yahoo.co.in> wrote: There is great dissatisfaction with increase in Petrol prices these days. To avoid such problems, I suggest that some RTI activists may enquire from IOC and other pvt sector petrol companies about the total amount of profits earned by them last year, how much of this was from petrol alone, what was the average crude oil price paid by them last year, copy of the claculations done by them to arrive at the selling price of petrol etc. How is it that same petrol prices are fixed by all petrol companies. Do they have a coterie to arrive at such decisions. In other countries, wherever petrol is deregulated, differant petrol companies fix differant selling prices for petrol. Besides, why should all petrol companies not upload their annual accounts for public view. Further, why should govt not have a regulating authority (on the pattern they have for telecommunications to scrutinize their costs and prices and due to which telecommunication costs are now so low) for petroleum products and another one for food for scrutinising their costs and prices. mksinghal -- Best Regards, -Joshi NM