Tax vehicle area instead of petrol

Description

Petrol now sells across the Indian metros at around R66.42 a litre, up from R50 during 2008. Opinion is divided as to whether the state-owned oil marketing companies (Indian Oil Corporation, Hindustan Petroleum Corporation Limited, and others) should be allowed to continue hiking prices, as they have been doing recently. The rationale for hiking prices is straightforward. The oil marketing companies (OMCs) are unable to cover costs of crude oil prices that have risen a lot. Hence, these companies are bleeding financially due to huge under-recoveries. Read more at: https://www.financialexpress.com/archive/tax-vehicle-area-instead-of-petrol/877353/

Publication Date

18-11-2011

Publication Title

Financial Express

Publisher

The Indian Express [P] Ltd.

Keywords

Automobile industry, Oil industry, Oil marketing, Fuel industry

Source Link URL

https://www.financialexpress.com/archive/tax-vehicle-area-instead-of-petrol/877353/

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