PETROLEUM PRICES - 285

      PETROLEUM PRODUCT PRICES 

Hardly a day passes when a hue and cry is not raised over the ever rising price of PETROL OR DIESEL . It is indeed a sorry state of affairs as this has a cascading effect on the  prices of other products of everyday consumption .



I have come accross many posts where the 1963 bill from a Petrol Pump showing  the price of Petrol as 73 Paise / Ltr . Today in the year 2021 the price has rocketed to almost 90 Rs to a Ltr which is almost a 130 times rise .

Many theories have been put forward . EXCHANGE RATE , BALANCE OF PAYMENT , DEMAND AND SUPPLY , CRUDE PRICES , REFINING CAPACITY , LOCATION OF THE RIGS , GOVERNMENTS FUND RAISING REQUIREMENTS  so on and so forth and all all play a part for this scenario. 

In Somalia , Ethiopia , Nepal , Pakistan and other such countries the prices are comparatively lower , whereas in Sweden , Denmark or Singapore it is much higher at almost Rs 360 to a Ltr .

There is however a school of thought among Economists which link the price of Petroleum Products to the prevailing GOLD PRICES on the day .

As a comparison , the price of 1 Gram of Gold in the very same 1963 was 9 Rs and 70 Paisa and today in the year 2021 it is a staggering  Rs 5000 for a Gram of Gold or more than 500 times the 1963 price .

India does not produce even one needlehead of Gold and all its requirements for Ornamental purposes are imported .

IF WE AS A NATION, PLEDGE , NOT MAKE ANY PURCHASES IN GOLD FOR JUST 1 YEAR , THE PETROL PRICES AND CONSEQUENTLY THE PRICES OF OTHER EVERYDAY USE COMMODITIES WILL COME CRASHING DOWN TO ROCK BOTTOM .

ARE THERE ANY TAKERS FOR THIS SUGGESTION ESPECIALLY FROM THE FAIRER SEX . .

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