Law & Legal Issues

What is the definition of oil pool account?

Answer

Wiki User
10/15/2008

The Oil Pool Account is the buffer maintained by the Government of India that takes care of the fluctuations in the price of of petroleum products with the help of surcharges collected on sales and enables it to make the products available at stable prices decided by it over long periods. The difference in the inflows and the outflows of funds result in a surplus or deficit in the oil pool account.