Anuj Kaul

My sincere request to @narendramodi and @HardeepSPuri - PLEASE start raising the cost of fuel. The current situation of absorbing cost is untenable given the following • the current calibrated allocation of fuel and gas, means the market is not deciding where allocation goes. Ergo the profitability of producers and refiners gets affected • current prices make it impossible to explore the possibility of acquiring fuel from new sources - the economics don’t work out. It was fine in the short term, but given how long the blockade is stretching out, these prices are impossible to sustain. Moreover supplying countries will also find greener pastures willing to pay higher prices. • the massive growth of fuel processing and distribution infrastructure since 2014 (doubling of import terminal, piping, customers, distributors, even sources) demands a return to market economics, else it becomes unsustainable. • literally every other major economy without exception have increased prices and not allowed the government to absorb the shock. Prices have gone up in other countries by around 100 ₹ per litre and diesel is selling in some at 225 ₹ per litre while petrol in Hong Kong is selling at 295 ₹ per litre. • indian manufacturers have had enough time to factor in the additional costs since the outbreak of the conflict • our refineries running at peak capacity is not good for the machinery and all of them running at peak capacity at the same time, increases the risk of failure and put us in an extremely vulnerable strategic situation • artificially low pricing is hampering a market driven movement to renewable alternatives. Like we studied in 6th standard CBSE civics, price ceilings have disastrous long term consequences despite being necessary in the short term as a shock absorber. The gulf blockade is the new normal - the economics of fuel has shifted, the prices need to reflect that new reality. Else the current situation will not just have a cascading effect on refiners and distributors but also on the entire economic situation replete with infrastructure failure and shortages. Please consider this a humble request, in the interests of fiscal prudence. I realise I’m asking for a lot from you - this being an obviously unpopular move. I am begging you, just as you absorbed the prices initially, please absorb the short term unpopularity so that we maintain medium to long term economic viability.

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