Petroleum Prices $3b Per Month Scam – Rs.2,00,000 Cr/Yr

Petroleum Prices $3b Per Month Scam – Rs.2,00,000 Cr/Yr

February21, 2015 (C) Ravinder Singh ravinderinvent@gmail.com

When the GOI own stats show 37.46% lower imports in the month of January2015 or $5b lesser expenditure on Crude Oil Imports in just one month is annualized savings of $60b to $65b or nearly Rs.400,000 crores at input to Refineries Level – difference could more at Retail Level.

Even if we assume 37.46% drop in RETAIL prices the difference is Rs.26 per liter but actual reduction is barely 13% to 15% or Rs.10 per liter.

But 22% difference in Petroleum Prices no passed on to Consumers resulted in $13.187b or $3b per month.

http://commerce.nic.in/tradestats/filedisplay.aspx?id=1

C. CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during January, 2015 were valued at US $ 8247.65 million which was 37.46 per cent lower than oil imports valued at US $ 13187.76 million in the corresponding period last year. Oil imports during April-January, 2014-15 were valued at US $ 124747.13 million which was 7.87 per cent lower than the oil imports of US $135396.32 million in the corresponding period last year.

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS

Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857

Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,

Water, Energy Saving, Agriculture, Manufacturing, Technologies and Project

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