Petrol & diesel prices have barely changed since June 2022, even though oil prices have fallen 28% since then. This has boosted profitability of OMCs and dividend payouts to govt.
India has paid Russia nearly $20 billion for oil in just seven months, more than what it paid in the last ten years combined. It has only reaped higher profits of a few Indian companies.
ONGC’s largest shareholder, the central government, has been tapping state-run companies including India’s biggest energy explorer to bridge its fiscal deficit.
Initial talks held on the possibility of India entering the programme that was started in 2017 between France, Germany and Spain to ensure European sovereignty in defence and security.
all that mentioned in this article is fine, but how about the money earned by ambani’s oil refinery? how much did they pay to the govt.? also, the article shows the cost of crude oil, what would the cost per litre be for the OMCs after its processed into petrol or diesel? crude oil seems to be approx 113 rs per liter… petrol and other fuels coming from crude oil are the basic necessities for entire population of the country and surely it reaps tons for the govts… and the oil companies… never they’re at loss.. and its the govts. that keep on increasing the prices of this essential commodity to get more out of public. same goes wtih electricity, gas..
Nothing new about it. These state owned OMCs are learnt to have minted money like anything earlier too. But the Hon’ble Petroleum Minister’s heart seems to beat for them only. What an irony?
all that mentioned in this article is fine, but how about the money earned by ambani’s oil refinery? how much did they pay to the govt.? also, the article shows the cost of crude oil, what would the cost per litre be for the OMCs after its processed into petrol or diesel? crude oil seems to be approx 113 rs per liter… petrol and other fuels coming from crude oil are the basic necessities for entire population of the country and surely it reaps tons for the govts… and the oil companies… never they’re at loss.. and its the govts. that keep on increasing the prices of this essential commodity to get more out of public. same goes wtih electricity, gas..
Nothing new about it. These state owned OMCs are learnt to have minted money like anything earlier too. But the Hon’ble Petroleum Minister’s heart seems to beat for them only. What an irony?
India is cursed with socialist politicians who overtax motor fuel to fund socialism and gain votes.