Petrol prices have never been acceptable to the Indian citizens but for a few instances of temporary slashes in the prices. Pakistan has recently cut down on the petrol prices by Rs 6, the lowered prices coming into effect on Monday. This decision comes close on the heels of the fall in global crude prices.

This brings us to the situation in our country. If Indian counterparts have brought down the prices why cannot our nation do it; more so because the slash in prices for the nations was global? We also have a few other factors that could help us even more. The fall in the dollar value against rupee which means we could have the prices even cheaper.

A rough estimate of all the charges that decide the prices of the petrol have been summed up and it revealed that all the oil companies have a benefit of at least Rs 2 per every liter of petrol being sold since September 16. The gains have not been shared with the customers though. Also do not take the rough calculations to be extremely rough, they have been made with the price-deciding formula that is adopted by the Indian Oil Chairman R S Butola himself. In his words, "For every rupee gained against the dollar, petrol becomes cheaper by 77 paise. Similarly, for every one-dollar fall in crude oil prices, petrol prices become cheaper by 33 paise".

The price of crude oil has now fallen by $ 3.74 ( and now stands at $109.9) duing September 16 to 30. There was also a gain of Rs 1.82 against the dollar value during the same period ( Rs 55.47 to Rs 53.65).

Where are all the benefits we were entitled? Would the Indian government follow suit? And if at all it does would the price fall be just? Price regulatory authorities should take notice and make amends in time so that the citizens can make use of the benefits most they can.

(AW- Anil)