Letter to BS: ONGC may get dividend waiver for price freeze

A robust strategy must be deployed to offer a framework that is acceptable to customers and promises to mitigate the adversities of risk/uncertainty in the long run

Apropos “To keep fuel rate in check, ONGC may get dividend waiver for price freeze” (June 2). Over the last year or so, daily revision of fuel prices has increased the overheads and administration costs for oil manufacturing companies. On the other hand, very little benefit has been passed over to the consumers. During the period, petrol and diesel prices have hardly been found to mirror the international trend/fluctuations in crude oil. The authorities must be analytical in their review of potential inflationary pressures in the commodity market. Net cost-benefit as a result of the real-time pricing must be evaluated.