Build your professional network on facebook via our app Go to app
 
 
 
Activity: Question posted: 07 22 2008 05:08:17 +0000, 4 answers, 187 views, last activity 07 06 2010 20:18:08 +0000
 
 Refer 36
Share
 
 
  Rate : 
 
 

FInance

 
 Top Answer :
Rating : +1 

If there ever was an example of the terrible cost of dithering, it must be this. There was a time not that long ago when crude oil prices averaged less than $20 per barrel.

It was when Vijay Kelkar, as the secretary of the ministry of petroleum and natural gas, set up a committee for dismantling the administered price regime and usher in market-based pricing. The committee produced an excellent report and set out a timetable for decontrol.

Unfortunately, petroleum minister Ram Naik of the BJP didn’t want to give up controls. Like many other reports, this one also met its dusty death in some long forgotten filing cabinet.

Ram Naik and the BJP went. In came the Congress: Mani Shankar Aiyar followed by Murli Deora. Neither showed much interest in decontrolling prices, except in bits under the direst of circumstances. And despite being a good economist and a reformer at heart, Prime Minister Manmohan Singh did not exert enough pressure.

What an opportunity we lost! Up to September 2003, there was a parity between crude and petrol prices with a good refiners’ margin - making it an ideal time for decontrol.



[ Delete ]
[ Edit ]
Report Abuse
by   Tadikonda Nagalatha, Recruitment Makro technologies  | 07 23 2008 10:06:43 +0000
  Answered by     Sumeet Moghe, VP - Operations, TooStep  | 08 01 2008 00:34:13 +0000
[ Delete ]
[ Edit ]
Not Rated

While crude prices will keep increasing due to its availability and renewal constraints, a large part of the current jump in prices is also created artificially. Due to a sudden environment of deficiency created around the world, panic purchases have started happening. History has shown us many a time how hoarders have profited from this panic situation through black marketing and price rise. I think the crude prices will moderate from their current levels after the panic situation reduces. In fact, the prices have already reduced 20 $ / barrel from the peak.

  Answered by     Mallikarjuna Gupta Bhogavalli, Sr. Product Manager, Oracle India Pvt Ltd  | 07 23 2008 23:23:24 +0000
[ Delete ]
[ Edit ]
Not Rated

Hardik has really given some gud tips.

 

With ever increasing crude prices we should switch to hybrid cars, start using public transportation,  start using cycles atleast once in q week.

[ Delete ]
[ Edit ]
Rating : +1 

To answer your question.  

ONLY BUY OR FILL UP YOUR VEHICLES IN THE EARLY MORNING WHEN THE GROUND TEMPERATURE IS STILL COLD. Remember that all service stations have their storage tanks buried below ground. The colder the ground, the denser the fuel, when it gets warmer petrol expands, so buying in the afternoon or in the evening.... Your litre is not exactly a litre. In the petroleum business, the specific gravity and the temperature of the petrol, diesel and jet fuel, ethanol and other petroleum products play an important role. A 1degree rise in temperature is a big deal for this business.But the service stations do not have temperature compensation at the pumps.

WHEN YOU'RE FILLING UP, DO NOT SQUEEZE THE TRIGGER OF THE NOZZLE TO A FAST MODE.If you look, you will see that the trigger has three (3) stages: low, middle, and high. In slow mode, you should be pumping on low speed, thereby minimizing the vapours that are created, while you are pumping. All hoses at the pump have a vapour return. If you are pumping on the fast rate, some of the liquid that goes to your tank becomes vapour. Those vapours are being sucked up and back into the underground storage tank so you're getting less worth for your money.

ONE OF THE MOST IMPORTANT TIPS IS TO FILL UP WHEN YOUR TANK IS HALF FULL.The reason for this is, the more fuel you have in your tank, the less air occupying its empty space. Petrol evaporates faster than you can
Imagine. Petroleum storage tanks have an internal floating roof. This roof serves as zero clearance between the petrol and the atmosphere, so it minimizes the evaporation. Unlike service stations, here where I work, every truck that we load is temperature compensated, so that every litre is actually the exact amount.

ANOTHER REMINDER, IF THERE IS A FUEL TRUCK PUMPING INTO THE STORAGE TANKS, WHEN YOU STOP TO BUY, DO NOT FILL UP - most likely the petrol/diesel is being stirred up as the fuel is being delivered, and you might pick up some of the dirt that normally settles on the bottom. Hope, this will help you get the maximum value for your money.

 
Leading recruitment Firm
Leading recruitment Firm
Viewers also viewed
with current politicians vs never
 
1684 referals 30 arguments, 1197 views
No, they can never draw the same value vs Yes, they have subverted the science and engg hegemony
 
0 referals 6 arguments, 378 views
Just ignore vs Ask for superiors' help
 
2290 referals 23 arguments, 406 views
more...  
Unanswered Questions (63)
does anyone know why the toostep is not updating ? the last updates on my home page are of 20...
 
0 referals 0 answers, 0 views
IS ACADEMIC PERCENTAGE CRITERIA ALWAYS MANDATORY FOR EXPERIENCED SAP CONSULTANTS. HOW TO OVER...
 
1 referals 0 answers, 0 views
Testing 1-2-3
 
1 referals 0 answers, 0 views
More From Author
good one ! keep it up !!big round of applause!
yes basic guidlines there are 8 Unix cluster server, 10 wintel serever,3 wan links, 2 network switches, one firewaLL, THIS IS SUPPORTING 600 USERS AT DIFFERENT LOCATIONS. CALCULATED 10 MANPOWER. WANT SOME WRITEUP ON cONFIGURATION MANAGEMENT FRAMEWORK...
more...