Statement: Should the oil companies be allowed to fix the price of petroleum products depending on market conditions?
Arguments:
1. Yes. This is the only way to make the oil companies commercially viable.
2. No. This will put additional burden on the retail prices of essential commodities and will cause a lot of hardships to the masses.
Answer: B
Clearly, oil is an essential commodity and its prices govern the prices of other essential commodities. As such, the interest of the common people must be taken care of, rather than the profitability of some oil companies. So, only argument II holds strong.