Monday, June 2, 2008

'Deregulating prices would mean that prices would move in tandem with global prices.'

How best to tackle the fuel price

Fuel price hike? Or tax the private oil companies? Possibilities like these are being thrown around even as the who’s who of Government are reportedly huddling together to thrash out a decision to counter the stupendous climb in crude oil price. As India’s dependence on imported crude continues to remain over 70 per cent, rising oil prices in the international markets pose a serious threat to India; the Indian basket of crude oil touched an all-time high of $121.71 per barrel on May 20.
If you are only thinking of scenarios where prices of oil can be kept steady, then you must listen to Mr Gokul Chaudhri, a partner and leader of the Energy and Infrastructure practice at BMR Advisors, New Delhi. In an email interaction with Business Line, he offers three different ways in which oil could be prevented from puncturing the Great India story.

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