I don't know why every one come with solution saying hike the petrol price. Herfe in Japan, Petrol is an open market and no subsidity. We pay less then what people pay in India. Recently i read an article which showed how the price hike is not helping oil companies. A major chunk of it goes to excise. Why it is required to pay such a high excise duty. OK, If state govt. need that fund then they should pay some subsidity to oil firm to keep their balancesheet in balance.
We (indians) are one of the high price payer for gasoline and still our oil companies are in loss. And more of it, they are spending millions of rupees in advertising and other unnncessary expences. Grab that too and you will find that they are no more big loss making companies.
