On Tuesday, the Kerala High Court refused to stay the state-owned Oil Marketing Companies’ (OMCs) decision to raise the price of bulk diesel purchases. The court also refused to impose any restrictions on the companies’ ability to raise their rates further.
It has, however, sought an explanation from the companies regarding their pricing strategy. The order was given in response to a plea filed by Kerala State Road Transport Corporation (KSRTC) challenging the OMCs’ decision to raise prices.
The court also told Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd that they should have given public services like KSRTC a concession. Justice Nagaresh stated that the OMCs are aware of how KSRTC works and should have provided adequate aid when the price was increased.
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