The retail price of a gallon of petrol in USA is $2.824 USD. Source
A gallon is 3.78541 Liters
So 1L of petrol/gas costs $ 0.746 USD
I USD is 39.345 Source Yahoo
So after conversion 1L of petrol costs 29.35222 INR in USA
The why on earth does Indian Government charge me 50.60 INR per liter? (retail price in Bangalore)
Whats worse they give me all sorts of crap that how fuel subsidy is breaking their back and why the oil price should be raised…
For heavens sake you are charging a 72% markup. I don’t care where whether you are losing it in an oil spill, or because you have lazy public sector workers… the bottom line is the Oil PSU have monopolized the retail of Oil and formed a Cartel. The MRTP (Monopolies and restricted trade practice act) should be enforced to find out how they can over charge the customers.
SEBI should start a probe to probe how can a company who is overcharging common man is losing the public money
The story of Diesel is also no different. The prices in India are 20% higher than that in the rest of the world.
In kerosene I agree that the price of the fuel distributed in PDS (ration shops) is subsidized, (but that is required to curb the unhealthy practice of burning firewood and cow dung cakes). And Please do not quote this as an argument. because this subsidy is not borne by the oil companies. The government buys all the food grain and oil at full Price for the PDS and then redistribute it for social causes.