Even post-APM, oil prices may not come down.

THE dismantling of the administered pricing mechanism (APM) has been eagerly awaited for a while. The change would mean that from the April 1, 2002, the pricing of petro products would be determined by market.

However, for the common man, hopes of cheaper petrol and diesel can evaporate over the next few months because of a sustained rise in the price of oil, which has been on the upswing for a while.

Indeed far from falling prices, there could be a higher outgo from the consumers pocket. The only measure of relief here could be in the form of government tinkering with duties to ensure that prices do not spiral out of control.

While this would …