Petrol Robbery

PETROL ROBBERY POLICY IN INDIA                                                                          4 Nov 2011

Inflation % : Just before Jan2008 inflation was 4.54,mid of 2008 inflation was reached to -1,today inflation reached to 12.21.

Petrol Price: beginning of 2008 petrol price was Rs.46/lit, after 6 months down the price to 40/lit, 2010 June petrol price wasRs.52, now it is 71/lit. When 1 barrel of petrol cost $ 140 then the local price of petrol was Rs.54, yesterday in world market petrol price closed  $ 94.74/barrel.See the price chart below.

                          

	Indian oil	H.P	B.P	Essar Oil	Reliancepetrol
Bonus	1:1	1:2	1:1	-	Keral state have
Dividend   %	95-160	140	140	Sales  46,988.00	105 fuel stations
Net profit   Cr./2010	7 445.48	1,539.01	1,546.68	654.00	No details
Gross Profit	13,642.53	3,768.33	4,068.05	1,559.00	“
Other income	3040.59	722.55	1,674.84	128.00	“

OMCs raise profit margin with ethanol-blended petrol Business Standard  Wednesday, Jun 15, 2011

Ajay Modi / New Delhi January 25, 2011, 1:23 IST

Sale of ethanol-blended petrol has turned more profitable for the oil marketing companies (OMCs) with the recent increase in petrol prices. Their margin on a litre of ethanol has moved up from Rs 7.90 per litre to Rs 12.43 since November when blending was reintroduced.

The sugar industry sells ethanol to OMCs at an ex-factory price of Rs 27 per litre.

Currently, ethanol blending is operational in Delhi, Uttar Pradesh, Punjab, Haryana, Maharashtra, Andhra Pradesh and Karnataka. Director (marketing), Indian Oil, G C Daga said blending helps though in a small manner since ethanol supply is low.

Some oil companies also plan to start ethanol production.

Hindustan Petroleum, for instance, bought two sick sugar mills in Bihar in 2008 to produce ethanol. These mills are expected to start producing ethanol in the current quarter.

In Real terms Government is not giving subsidy to the people on petroleum products. The Central Government collected in the form of Taxes of Rs 58,789Crs in 2002-2003, Rs 96,486 Crs in 2007-2008 ,Rs 84,298 Crs in 2008-2009 Rs 90,000 Crs In 2009-10 and Rs 1,20,000 Crs in 2010-2011( Budget Estimates)on petroleum products only. But the Government allotted to the petroleum Sector including subsidies Rs 57,535 Crs in 2008-2009, Rs 58,120 Crs in 2009-10, and Rs 69,495 Crs in 2010-2011. Out of huge amount collected from people a small amount is given as subsidies. So it is wrong that the Government is subsiding more and the oil companies are getting losses due to these subsidies are wrong. Subsidies are declared by the Government. So Government is bound to pay the amount of subsidies to the oil companies, Unfortunately the Government is collecting taxes and is not paying the subsidy amounts to oil companies. Despite all these things, Public Sector Oil companies are getting profits, For example in 2008-2009, IOC got the net profit of Rs 2,950 Crs. In 2009-10, it got Rs 10,998 Crs and the total of its reserves Rs 49,472 Crs. These are Audited figures. The other oil companies HPC, BPC are in same line of Profits. So the propaganda that the oil companies are getting losses is false. The Government has taken this move to abolish the subsidies to the people. So that, the Private oil companies Like Reliance, Essar oil can freely market their products, so to say they can freely rob the people.

ONGC Report

	Mar ' 11	Mar ' 10	Mar ' 09	Mar ' 08	Mar ' 07
Other income	2,568.20	2,219.92	4,751.47	5,010.66	4,243.10

Gross Profit    43,561.96 39,642.63 35,999.88 35,032.51 32,694.59

Net Profit        18,924.00  16,767.55  16,126.31 16,314.54 15,642.92

Dividend   in 2010 320 %,   Bonus in 2006 1:2

Mr.William Lindensly,, worked 35 yrs in U.S. Ministry &  said in his speech last year, underground petrol  (2-3- km debth) international rate is $ 5/ barrel, after pumping it reaches to surface then the price of oil  is $ 3/barrel,after this refining charges varies from .18 - .22%. Now you think the network margin,operational cost,govt.taxes, etc.

I am saying IMF & WORLD BANK playing a good role to fix the price of petrol.Our Prime Minister said we have very good relations with them. Now in G-20 meet, our Prime Minister doesn’t have any confidence with Globalization because we are not able to control our inflation.

What a Great job by the Govt. of india? Think 0.5 % are ruling,fixing policies for them,protected with force,where is our value of VOTE?

Again inflation is going to high & how it controlls? who control this? And this is followed by all B.O.T roads, how common man can live in India?.Is this  a war from Corporates to poor indians. ??????

Giri Prasad.R,

District Secretary Kollam,

Highway Action Forum