The retired Planning Commission member and co-author of the Integrated Energy Policy Kirit Parikh is very much disappointed that the Government has so far hasn't taken any action on his report on the oil pricing.

Parikh recently confirmed the fact that since there were so many hurdles on the first chance keeping in mind the rising inflation which made it tough for the Oil Ministry to implement the recommendations but even when the Government chose to announce a price hike in Petrol and Diesel it hasn't opted for the recommended free market competitive price determination at the refinery gate as well as the retail level.

Notably, after the report as filed the Oil Minister went on record to assure that there will be action seen in the marketplace within a short period of time if not a full implementation of the report but so far things haven't moved as expected.

With the Indian rupee appreciating against the per barrel price of Oil, it has also eased up the situation for oil companies and a competitive price will only help them to make the situation more certain.