In your editorial “Price of delay” (May 17) you have said the petrol price increase is due to rising crude oil prices in the international market. But 70 to 80 per cent of the international market for oil has been captured by speculators who never take delivery. They are driving up prices that cascade on transport costs and eventually on the price of fruit and vegetables. What is the point of talking about eradicating poverty when this practice cannot be stopped? As far as India is concerned, the distribution of subsidised kerosene should be stopped because it is well-known that most of it is diverted to the black market.
S C Aggarwal, New Delhi
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