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What Price Caution?

A panel report on oil prices prescribes drastic reforms

Suggestions
Potential outcome

Refinery gate price to be fixed on average of global petro product prices
Will hopefully end debate on different gate prices, will bring transparency
 Fuel quality to set retail price; transparency on profit/taxes charged 
Should help OMCs realise value, promote quality 
Segmentation of diesel according to use
Doable but requires political will, monitoring
Monthly hike in petrol, diesel and LPG prices; retain 
targeted subsidies
A politically volatile decision, has never been done thus far
Windfall tax on over $75 pb of oil from exploration blocks awarded before 1999 
To impact mainly ONGC; leaves out issue of high refinery margins

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Outlook
Published At:
US