How do you fix price, what’s the logic behind retail and bulk rates difference, HC asks oil firms
The Kerala High Court on Tuesday asked the state-run oil marketing companies (OMCs) what was the reason for a difference in the retail and bulk purchase rates of fuel supplied by them and what was the price fixation mechanism adopted by them.
“What is the logic or reason for the difference in prices of retail and bulk purchase of high speed diesel? How do all three OMCs decide the prices? Do they sit together? On what basis or based on what material do they fix the prices? Give us the material for that if you can,” the high court asked the companies.
