Fuelling concern

.....The Reserve Bank of India's annual monetary policy (2012-13), unveiled on April 17, came as a shot in the arm for the three companies — IOC, BPCL and HPCL. “Fuel inflation moderated from over 15 per cent in November-December, 2011, to 10.4 per cent in March, 2012, even as global crude oil prices rose sharply, reflecting the absence of commensurate pass-through to domestic consumers. It is imperative for macroeconomic stability that administered prices of petroleum prices are increased to reflect their true costs of production,” the apex bank said.......

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