Sukhbir for transparent formula to fix fuel prices | punjab | Hindustan Times
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Sukhbir for transparent formula to fix fuel prices

Punjab deputy chief minister Sukhbir Singh Badal today called for a transparent formula for fixation of price of petroleum products. He alleged that the Centre was repeatedly and arbitrarily raising the price of petrol, diesel and LPG, with the sole motive of benefiting multi-national oil marketing companies.

punjab Updated: May 28, 2012 20:57 IST

Punjab deputy chief minister Sukhbir Singh Badal on Monday called for a transparent formula for fixation of price of petroleum products.

He alleged that the Centre was repeatedly and arbitrarily raising the price of petrol, diesel and LPG, with the sole motive of benefiting multi-national oil marketing companies.

Responding to query from media persons before giving away prizes to the winners of national sub-junior under-14 girls hockey championship that concluded at Bassi Pathana, Sukhbir Badal said that NDA had been demanding since long that price fixation formula of petroleum products should be transparent so that public should know how much profit MNCs were making at the cost of common man and how Congress- led UPA government was becoming a willing partner in mass-fleecing exercise.

He said it was a matter of surprise that when international prices were touching record low due to Euro crisis, India was the only country that had effected steepest hike in the price of petrol.

Questioning the free pricing formula, he said why MNCs failed to lower the price, whenever crude price fell in the international market. He said the price of crude was 108 US dollars in 2011 on May 22 and it was same in corresponding period this year.