Build on the hike

The hike in petrol prices should be the first step in a complete reform of the current system. While petrol prices are decontrolled, petroleum companies do not have the freedom to hike prices if the government objects. The government should not give in to the pressure to roll back the hike. The cash position of oil companies is precarious. Any rollback would immediately reverse the positive market sentiment that may have come about because of the petrol price hike.

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