Buy Oil Marketing Companies

Today it will be a good day to start buying the oil marketing companies. In last couple of weeks when first oil was rising and rupee was stable the probability of the price rise were strong but it did not happen as the government had to go through the budget session. Since today is the last day of the session, the government increased the oil prices. The government says oil prices are decontrolled and they do not have the control over it. I want to ask in that case why petrol prices were not increased in last few months despite increasing crude and depreciating USD? Simple answer electoral gains. You think BJP is different, mistaken again Karnataka is the surplus budget state government with highest taxes on the petrol. A gradual increase would have helped people to adjust their budget accordingly.

The happy news for me is even the people driving SUV's and Audi's now will be required to shell out more with in a week's time as prices for Diesel, LPG and Kerosene will be increased as well though I am not sure about the quantum. So, hold on to your longs and enjoy making money.