New Delhi, Feb. 9 : Professor Arjun Sengupta, well-known economist and Chairman of the National Commission for Enterprises in the Unorganised Sector, Government of India, today suggested a formula based approach to ensure stability and predictability in the petroleum product prices.

Delivering the keynote address at a Focus Group Discussion on "Petroleum Product Pricing Reforms: Now Is the Time", Sengupta said the formula can be developed either by a group or committee.