Opinion - Letters to the Editor   

Oil prices

The proposed rise in fuel prices will have a cascading effect on the prices of essential commodities and transport services. The governments should give up all duties on oil, both internal and imported, and come out with a white paper on the cost and profit factors of the price the consumer is paying. Oil companies made huge profits last year also but day-in and day-out we are told that they are incurring losses. All individuals and institutions should impose a 10 per cent cut on fuel consumption and this can easily be achieved by giving up avoidable travel.

A.P. Govindankutty,

Painkulam, Kerala

It is said that supply worries, a rising global demand and a slumping dollar keep crude futures on an upward track. As in certain other commodities, futures trading in crude oil has to be banned forthwith. As elections are nearing, the government is hesitating on hiking the petrol and diesel prices. But the worst is yet to come. As the rupee is depreciating against dollar, the cushion provided by the rupee appreciation against the dollar, has been removed and India has to pay a heavy oil bill. As the rice prices has gone up, Japan has decided to release its buffer stocks to control the prices, not in Japan but internationally too. OPEC countries, taking the cue from Japan, should produce more crude and cut prices.

S. Haja Najeemudeen,

Cochin

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