Though PSU OMCs are buying crude at USD $105.62 / bbl (http://iocl.com/Products/CrudeOil.aspx),
they are projecting a procurement price of USD $119.97 / bbl for petrol
(https://www.iocl.com/Products/PriceBuildup/Price_buildup_of_MS.pdf).
Thus generating profit of USD $14.35 / bbl. Same is the story for other finished products like diesel, LPG etc.
Govt. must ensure reduction of all petro products prices immediately, to give some relief to people, in view of all round spiralling prices.
