05-22-2008, 09:26 PM
<b>Crude oil prices soar, BPCL starts fuel rationing</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Though the poll-bound Government refuses to hike prices, oil companies are curbing supplies to cut losses.
Petroleum companies have informed the ministry that supply will have to be curtailed to curb the rising demand.
This would mean that every dealer would receive only a limited quota of fuel every month proportionate to sales.
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They should increase price. Today Indian Re is 42.960. If they increase price, consumption of oil will drop but inflation will increase.
I hope US is working on oil supply from Iraq, it is not even 50% of Saddam's time.
Petroleum companies have informed the ministry that supply will have to be curtailed to curb the rising demand.
This would mean that every dealer would receive only a limited quota of fuel every month proportionate to sales.
<!--QuoteEnd--><!--QuoteEEnd-->
They should increase price. Today Indian Re is 42.960. If they increase price, consumption of oil will drop but inflation will increase.
I hope US is working on oil supply from Iraq, it is not even 50% of Saddam's time.