{"id":3796,"date":"2024-03-05T15:56:10","date_gmt":"2024-03-05T15:56:10","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=3796"},"modified":"2024-03-05T15:56:10","modified_gmt":"2024-03-05T15:56:10","slug":"which-amongst-the-following-now-decide-the-oil-prices-in-india","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-amongst-the-following-now-decide-the-oil-prices-in-india\/","title":{"rendered":"Which amongst the following now decide the oil-prices in India?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Ministry of Finance&#8221; option2=&#8221;Respective State Governments&#8221; option3=&#8221;Ministry of Petroleum&#8221; option4=&#8221;Oil Companies&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is (d). Oil companies decide the oil prices in India.<\/p>\n<p>The government of India has deregulated the oil sector, which means that oil companies are free to set their own prices. This is in contrast to the previous system, where the government set the prices of oil products.<\/p>\n<p>The deregulation of the oil sector has led to higher oil prices in India. This is because oil companies are now free to pass on the cost of higher crude oil prices to consumers.<\/p>\n<p>The deregulation of the oil sector has also led to greater competition among oil companies. This has led to lower prices for some oil products, such as gasoline.<\/p>\n<p>Overall, the deregulation of the oil sector has had a positive impact on consumers in India. They now have access to a wider range of oil products at lower prices.<\/p>\n<p>(a) The Ministry of Finance is responsible for the overall economic policy of the government of India. It does not have any direct role in setting the prices of oil products.<\/p>\n<p>(b) Respective State Governments are responsible for the distribution of oil products within their states. They do not have any direct role in setting the prices of oil products.<\/p>\n<p>(c) The Ministry of Petroleum is responsible for the management of the oil and gas resources of India. It does not have any direct role in setting the prices of oil products.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Ministry of Finance&#8221; option2=&#8221;Respective State Governments&#8221; option3=&#8221;Ministry of Petroleum&#8221; option4=&#8221;Oil Companies&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[],"class_list":["post-3796","post","type-post","status-publish","format-standard","hentry","category-economy","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which amongst the following now decide the oil-prices in India?<\/title>\n<meta name=\"description\" content=\"The government of India has deregulated the oil sector, which means that oil companies are free to set their own prices. This is in contrast to the previous system, where the government set the prices of oil products.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-amongst-the-following-now-decide-the-oil-prices-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which amongst the following now decide the oil-prices in India?\" \/>\n<meta property=\"og:description\" content=\"The government of India has deregulated the oil sector, which means that oil companies are free to set their own prices. This is in contrast to the previous system, where the government set the prices of oil products.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/which-amongst-the-following-now-decide-the-oil-prices-in-india\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-05T15:56:10+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Which amongst the following now decide the oil-prices in India?","description":"The government of India has deregulated the oil sector, which means that oil companies are free to set their own prices. 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This is in contrast to the previous system, where the government set the prices of oil products.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/which-amongst-the-following-now-decide-the-oil-prices-in-india\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-03-05T15:56:10+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-amongst-the-following-now-decide-the-oil-prices-in-india\/","url":"https:\/\/exam.pscnotes.com\/mcq\/which-amongst-the-following-now-decide-the-oil-prices-in-india\/","name":"Which amongst the following now decide the oil-prices in India?","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-03-05T15:56:10+00:00","dateModified":"2024-03-05T15:56:10+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"The government of India has deregulated the oil sector, which means that oil companies are free to set their own prices. 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