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LATEST NEWS UPDATES | It’s the executive’s job to fix fuel prices, not court’s: Supreme Court

It’s the executive’s job to fix fuel prices, not court’s: Supreme Court

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published Published on Apr 10, 2012   modified Modified on Apr 10, 2012
-The Times of India
 
The Supreme Court on Monday said pricing of petrol and diesel determined by a complex mechanism fell exclusively within executive's policy domain and refused to entertain a public interest litigation demanding rollback of repeated sharp hikes in motor fuel prices. 

Ex-MP P C Thomas had filed the appeal in the apex court challenging a Kerala high court's decision to dismiss his PIL questioning "irrational and hypothetical fixation of price for various types of petroleum products" and seeking their classification as essential commodities for effective control against repeated hikes. 

Senior advocate Shekhar Naphade's attempted to explain the petitioner's view on oil price fixation through the government's Import Parity Price (IPP) principle did not convince the bench, which was of the view that the issue was a complex policy matter falling outside the judicial scrutiny. 

Thomas wanted categorization of petrol and diesel as essential commodities under the Essential Commodities Act, 1955, to counter the arbitrary fixation of price by Oil Marketing Companies (OMCs) under the IPP regime, which meant that the prices were fixed as if India did not have any domestic crude extraction and refining facility. He said India extracts 25% of its crude oil demand domestically. 

"By adopting the said imaginary calculations, the government has been informing its citizens that the OMCs are suffering loss of Rs 53,000 crore by way of under recovery, which is nothing but a notional loss. How else do balance sheets of all OMCs show huge profits?" he asked. 

The Times of India, 10 April, 2012, http://timesofindia.indiatimes.com/india/Its-the-executives-job-to-fix-fuel-prices-not-courts-Supreme-Court/articleshow/12603255.cms


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