Three suggestions for lowering fuel prices at the pump

Three do-able steps by the crude refiners and exporters to reduce the pain of petrol prices at the pump

Three do-able steps by the crude refiners and exporters to reduce the pain of petrol prices at the pump
Three do-able steps by the crude refiners and exporters to reduce the pain of petrol prices at the pump

The government is undoubtedly taking several steps to combat the price of petrol at the pump as well as to shore up the value of the Rupee versus the Dollar. I have written several times about how the Direct cost of petrol (from a rising Crude price) impacts the indirect cost of commodities such as Rice, Wheat, Onion etc[1]. The impact from a rise on Petrol of 1 rupee can be as much as 4 rupees on the commodities. Prices of Onion, Rice, Wheat will all rise just around the December elections for various states and the coalition in power at the Centre will be blamed. Here are three suggestions for the importers of crude and producers of petroleum that will help keep the price rise to as low as possible. This is your chance to make a contribution to the Bharat Varsha.

Impress upon the Government to talk to their United States (US) counterparts to allow this. It takes two to tango and India is dancing with the US now…

Three suggestions

  1. Stop buying spot prices – that too at a premium. If true, this suggests that you are maybe over-invoicing your imports, by routing purchases through various shell corporations. Be transparent, declare your purchase price (this should be the same as what France and the United Kingdom pay), from crude producers like Saudi Arabia and Nigeria. The interactive graphic below shows the spot prices for the first few months of 2018…

  2. Buy from Iran, which is willing to give an 18-20% discount on the spot prices and who is also willing to accept the rupee as part payment. Impress upon the Government to talk to their United States (US) counterparts to allow this. It takes two to tango and India is dancing with the US now…
  3. Do not under-invoice your refined petroleum/ diesel exports. This has long been alleged and with increasing data analytics at the disposal of the investigative agencies, you will be caught. How about for once, taking a hit for the cause of the country?

Trust me when I say this – there is more joy in giving than getting. Are you listening?

References:

[1] Lower fuel prices result in economic benefitsSep 3, 2018, PGurus.com

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Sree Iyer

An inventor and out-of-the-box thinker, Sree Iyer has 37 patents in the areas of Hardware, Software, Encryption and Systems.

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4 COMMENTS

  1. Centre sugar and force that’s all state governments in maths cruel stating housing cooperative societies and all Bungalows should have solar power generation facilities to the extent of 2 times the floor area and ensure touch their consumption from electricity boards come down steeply.

  2. Why can’t we – taking this as a ‘blessing in disguise’ – push for ‘solar’ & ‘gobar gas’ with extra vigor?

    Gobar Gas is as efficient & swift – provided initial setup (tapping, storing & distribution) is established.

    Of course there are many hiccups during establishment of the initial setup. But Gobar Gas has far too many advantages to ignore it

    India has huge cattle wealth which is currently abused in Slaughter Houses to earn wealth for few Meat Mafia

    If focus is given to tap Gobar gas towards (1) Cooking Gas (2) Transport Fuel (3) Electricity Generation – (a) All households in India can avail cooking gas@ less than 100PM (b) All Indians can be transported@ 10 pause per KM (c) Power will sell at 1 rupee per unit

    Gobar Gas is absolutely non-polluting. The pernicious & destructive after-effects of Hydrocarbons can be totally obviated

    Gobar Gas tapping, storing & distribution utilities are highly labor intensive. Around 15 million new jobs will be generated in this sector alone

    Around 50 tr in Forex will be saved annually

    The byproduct after extraction of Gobar gas is the most richest manure mankind can ever conceive of & this can save around 40 the annually foolishly spent on harmful Chemical Fertilizers & poisonous pesticides

    5 years of sustained & intensive preparations are required to make this a success

    गोमये वसति लक्ष्मी गोमुत्रे दंवंतरी – oh! What a foresight

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