The GOI owns all the major oil companies that in turn control the price of Petrol on the street. The GOI is notorious in delaying price increases in kerosene, gas and diesel.
Now it has a way to have the cake and eat it too, by making Petrol further subsidise the other products for political expediency: by having its cartel of oil companies mark up petrol prices to make up losses in the other products – if not all losses, atleast some.
This Robin Hood will however operate clandestinely as the prices of petrol are fixed by “individual” companies, but which are controlled by GOI and are not “obvious” subsidy of the other products.
The only way to ensure such a practice does not come about is true competition. Thats a far cry considering Gov ownership of these companies and a toothless Competition Commission.
A new era of under cover socialism may well have begun.