Is the Government doing enough to control prices of Petroleum Products?

Actually Govt. Dont want to do so...Is the Government doing enough to control prices of Petroleum Products?
Well let's see...





My bicycle and I say no. Look for me as the new leg model on fitness next week! I've been pedaling the hell out of this thing for a year now!





LOL!Is the Government doing enough to control prices of Petroleum Products?
Of course it is! How else is the government going to enrich all those poor oilmen who reported record smashing profits?


Now who do we know that's a Texas oilman?
Better question:





What are they actually doing?
Islamabad - Pakistan Monday raised the petroleum products prices by 2.5 to 7.17 percent for the May 1-15 fortnight, according to a notification issued here.





As a result, the price of super petrol has gone up by Rs.1.41 to Rs.57.70 a litre and high octane petrol by Rs.2.11 to Rs. 64.88 a litre.





Kerosene prices are up by Rs.2.36 to Rs 35.23 a litre, light diesel oil by Rs.1.60 to Rs.32.57 a litre and diesel has gone up by Rs.1.55 to Rs.38.73 a litre.





DPA adds: The Oil and Gas Regulatory Authority (OGRA) comprising government officials and representatives of oil companies announced the increases, citing rising international prices.





鈥榃e import 82 percent of our oil requirement and the record rise in prices in the international market is the main cause of the latest hike in the local market,鈥?an OGRA spokesman said.





Pakistan consumes about 240,000 barrels of crude oil a day. Of this, around 177,000 barrels are imported and the rest is produced locally.





Saudi Arabia supplies about 110,000 barrels of crude oil each day while Dubai and Qatar export 60,000 barrels.





Petroleum analysts feared the latest surge was bound to hit the common man as the fuel tariff directly affects prices of daily-use commodities.





鈥楳ore than 50 percent of the price of every litre constitutes government taxes on fuel, which should be cut down to mitigate problems of common people,鈥?Mohammad Sohail, associated with the country鈥檚 finance and business concern, Jehahnir and Siddiqui, told DPA.





The government, however, claims it continues to share the impact of international hike in oil prices with total increase of around 35 percent (in Pakistan) against 113 percent rise worldwide over the past two years