COVID 19, PETROL AND SOMETHING MORE


Oil prices are continuously being increased in India for the past few days. If we ask the oil companies for the reason for these increase they may come up with umpteen of those. Whether it is international crude price hike or exchange fluctuations of Indian currency or any such things, the so called democratic government of India should have invariably ensured that the people have enough money to buy at the enhanced rate. Price hike of fuel is not just confined to the vehicle owners. It has direct or indirect impact on everyone of this country. Prices of almost all commodities and services are increased proportionately or more depending upon the price hike of oil. Could this have avoided for the time being?

Petrol prices per litre in Indian rupees in some lowest priced countries are: (as on June 8, 2020)
Venezuela            01.52
Iran                        06.46
Sudan                   10.56
Soudi Arabia        16.63
Angola                  20.58
Iraq (33 in list)     47.95
Iraq is the largest crude oil supplier for India in 2018-19 supplying 46.61 million tonnes. Top oil producing countries in the world are US, Soudi Arabia, Russia, Iraq and Iran. Venezuela is 11 and India is 25th in the list. Countries with oil reserves are Venezuela, Saudi Arabia, Iran, Canada and Iraq. India is 24th in the list.

Prices of Petrol and Diesel in South East Asian countries on June 8, 2020 in Indian rupees.
Petrol      
Pakistan.     35.01
Burma          36.53
Bhutan         50.23
Nepal           60.89
China           63.17
Sri Lanka     66.22
India             76.87
Bangladesh 79.91

Diesel
Burma            31.97
Afghanistan  37.29
Pakistan        37.29
Sri Lanka       42.62
Bhutan           46.43
Nepal             54.03
China             54.80      
Bangladesh   58.60   
India               70.02
(Accuracy of all the above prices may please be confirmed further)

The actual cost in India may be found out by the readers themselves by computing the following figures.

Purchase price of crude (per unit)
Shipping charges (say Kochi)
Unloading charges
Pumping cost (to the refinery)
Refining cost
Storage cost.
Pumping cost the tankers
Transportation charges to the dealers
Dealer's commission
Oil companies profit
Custom/excise duties
GST (central + state)
Add cess if any

Total product cost per litre.

You may see whether the total cost match with the daily retail price.

KV George
kvgeorgein@gmail.com



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