Wednesday, May 12, 2004
Wednesday, May 12, 2004 |
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Advts: Classifieds | Employment | Obituary | Kerala
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Kochi
By Our Staff Reporter
KOCHI, MAY 11 . The president of the Kerala State Private Bus Operators' Federation, M. Khalid Mundapilly, today criticised the statement made by the Union Minister for Petroleum and Natural Gas, Ram Naik, that oil companies were capable of reducing oil prices. He said the fall in price of petroleum products in the international market was not being passed on to customers. He alleged that the Central Government was permitting petroleum companies to exploit customers. All petroleum companies had been making a hefty profit over the years, mainly owing to the reluctance to pass on to customers the fall in price of petroleum in the international market. This would badly affect private bus operators too, Mr. Khalid said, in a press release issued here. The companies slashed petroleum prices by merely 78 paise in November 2002, while the price fall should have been Rs. 4.28. There might be a petroleum price hike soon after the elections, despite the increasing profit margins of petroleum companies, he said.
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