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Over 40 per cent of the current petrol prices in India constitute taxes that go to the government. The corresponding figure in US is around 50. Petrol prices must be kept high in order to check wasteful consumption, conserve this scarce resource for future generations, arrest the rapid deterioration in environmental quality and the resultant climate change.

But the benefits accruing to the governments from the high prices must be utilised exclusively for environmental preservation and improvement of the roads and also to ensure long-term energy security for the country. And under no circumstances must the private and public sector oil companies be allowed to profit excessively from the artificially high petroleum prices.

R.P. Rammohan

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