Stop Daily Price Revision of Petroleum Products! With no criteria of price determination

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Declared by Indian Oil Corporation Ltd from 16th June 2017, the daily price revision of petroleum products across the country will be initiated. The Step is just unfruitful till date, with no criteria of Price Determination and the only beneficiary of the Daily Price Revision is State Owned Oil Marketing Companies, leaving all others been Customers, Dealership, Transporter, Economy to suffer in an unplanned "Day Light Robbery" with no Criteria of Price Determination.

Would request Hon. Minister to rethink on steps on reasoning as below and the sham should be stopped, wherein everyone is suffering else to OMCs

1. Daily price revision is been initiated and tested under pilot project in 5 cities across, what was the input been shared by the dealership in reference to this project, should be made available for all.

2. Criteria of Price Determination, wherein the Oil Marketing Companies are not importing/refining the crude on daily basis,then how the prices are determined on daily basis?

3. Oil Marketing Companies are having an enormous profit out of crude purchased at lower rates and which is sold on higher rates and is the same justified with Consumer's?

4. Will it not be a better step to enforce PNGRB Act 2006 for better Transparency of Petroleum Products?

5. Daily Price Revision is hitting Consumer's hard especially Middle Class due to thier imbalanced home budget and is it Justified that thier hard earned money is taken away with no proper criteria of price determination?

6. How long the central govt will be taking as Petroleum Products as profiteering and milking the middle class

A. Excise Duty by Central Govt

B. VAT from State Govt's

C. Dividend to Central Govt on revenue earned by Oil Marketing Companies.

7. In regards to Point 6 {C} isn't it correct to say that Daily Price Revision is another way of Central Govt to earn more profit by giving an extra hand to OMCs to sell product purchased at lower price and selling it at higher price, along with various other Taxes on Petroleum Products?

8. Daily Price Revision is a prime reason for inflation as diesel been a driving force of economy is revised on daily basis and leading to higher inflation, further hitting a middle class consumer's.

9. Daily Price Revision is not in hands of Oil Marketing Companies as it's still politically driven as Price Revision during "Gujrat Election" is an perfect example.

10. Criteria of Price Determination on Saturday and Sunday when Stock Market is closed and still the prices are been revised by Oil Marketing Companies? Isn't this a worrisome to citizen of India who's been fooled by this step.


We as Consumer's would request Dharmendra Pradhan to stop this illplanned sham in form of Daily Price Revision and stop harassing/cheating consumer's on the plea of price moment as per international market, which is just adding to the profits of Central Govt and leaving Consumer's as fools.