July 1996 – Oil shock Posted on July 31, 1996 by Uttam Gupta July-1996-Oil-shock Tags: naphtha, Oil Coordination Committee (OCC), OIL, 'transport', foodgrains, Cooking fuel, 'urea', vegetables, LSHS, net realization (NR), DAP, retention margin (RM), fuel oil, Kandla-Bhatinda oil pipeline, ONGC