THE IMPACT OF RISING CRUDE OIL PRICES
Important fuels like diesel and other bi-products like gasoline, kerosene, etc.are derived from refining Crude oil. Therefore, when there is a rise in Crude oil prices, there is a rise in diesel prices as a direct consequence. Now, for the growth of a developing nation like India, Crude oil is indispensable.
Not only does crude oil form the backbone of industrial development and technological advancements, but it also drastically affects the world economy and that of our country in particular.
INDIA'S RISING FUEL PRICES:
India is one of the largest importers of crude oil in the world; we import nearly 80% of our crude oil, whose price is at the mercy of oil-rich nations. Organization of the Petroleum Exporting Countries (OPEC) regulates the price of Crude oil by calculating the production capacities of the Middle Eastern Companies and the Global demand for crude oil. A fluctuation on the higher or lower sides of either of the scales results directly in an increase or decrease (in very rare scenarios) in the crude oil prices. In the present world scenario, we are witnessing a global rise in fuel consumption, which is why fuel prices are increasing.
Since India's fiscal deficit is negatively impacted by a rise in the global Crude oil prices, it further affects the standing of the Indian National Rupee (INR's) global evaluation. Not only this, but it also impacts the stock market directly.
What is important to note here is how this chain impacts the end consumer. The end consumer procures diesel, not crude oil, but he doesn’t get this diesel at the same price as the government procures it at post crude oil refinement. The government adds taxes to the imported fuel at the central level and the state level.
Since the treasury of both the central and state governments heavily depend on their fuel taxes for sustenance, the price of diesel is perpetually rising.
Where there is a problem, innovative solutions have to be thought of to salvage the situation.
In this case, the problem is the rising prices of fuel leading to higher operational costs for both large and small scale industries. Further escalating the issue is the problems industries face in procuring the required amount of diesel to keep their machinery running without unnecessary downtime.
The solution presented itself when an amendment to the petroleum regulations of India made it legal for Fuelents (Fuel Entrepreneurs) to deliver diesel. Humsafar leads the charge with their technology-driven innovative solutions!
Humsafar delivers large quantities of diesel in self-fabricated state-of-the-art bowsers. These technologically optimized bowsers go through rigorous tests to assure zero contamination or pilferage of the fuel. Humsafar also offers fabrication services for these PESO approved
bowsers, which come with the value-added Promise of Bowser +. Humsafar helps upcoming FuelEnts establish their stronghold in India’s booming Energy Sector.
Understanding the infeasibility of ordering small quantities of diesel in large bowsers, a problem small scale industries often face, Humsafar has launched the Safar20 program. Through this initiative, Humsafar delivers diesel in small quantities like 20-litres, 40-litres and 60-litres to consumers in PESO approved Jerry Cans that come with a seven-wire seal and a unique number lock on them. Safar20 results in lower fuel wastage and handling hassles that the consumers have been facing since time immemorial.
Humsafar enables the easy ordering of delivery via its mobile-friendly app- Fuel Humsafar. That allows you to track the order, automate billing and schedule deliveries as well.
For further information regarding Humsafar and its services, kindly contact us at +91******.