Oil suppliers should be able to survive rise in crude oil prices, to pass the fuel to the end user at affordable rates
MUMBAI: Fuel is the driving force behind the economic growth of countries. Therefore, it is imperative to deal with the volatile turns that the supply of various fuels often take in global markets. Since the growth in supply has failed to keep pace with increasing demand, crude oil prices have now started increasing. In this context, it is necessary to take bold and timely measures to ensure that crude oil prices do not come in the way of economic growth of countries.
It is also important to come to terms with ground realities and support oil companies, both in the public and private sectors, in matters of finance so that oil suppliers can survive any rise that there may be in crude oil prices and are able to pass the fuel to the end user at affordable rates.
P Senthil Saravana Durai
Published in The Express Tribune, May 26th, 2016.
Like Opinion & Editorial on Facebook, follow @ETOpEd on Twitter to receive all updates on all our daily pieces.
