Lower Fuel Prices, Higher Fuel Consumption leading to Higher Pollution

ONGC India

The October Price of crude for Indian basket is  87.40 dollars and  in November it is  72 dollars. This big reduction  would save an import cost of  40 billion dollars for us.  This great bonanza has thrown open a chance for all developing economies  to consolidate the gains accruing in various sectors. The  OPEC's decision to continue with their daily quota of 30 mbpd is a welcome step.  The reduced rate of fuel would have a cascading effect on the economy especially the goods that need to be transported beyond 100 kms. But the transport sector may not  offer any  fare cut as traditionally  they are making either losses or with  a poor profit margin.  The inflation rate would  remain   manageable. The consumers may be more having money to dispense with for other expenditure. Apart from these positive developments the negative side of this emerging positive story is that the automobile sector would start rolling out more machines on roads. The booming economy with a lower fuel price is going to spur the  sales of  passenger vehicles for sure. Each dollar reduction in Brent Price will end up in more sales. I apprehend the pollution scene  in India which is growing murkier  would turn to the worst as the price glut may end up in more and more users contributing more CO2 into the atmosphere.   

P.S.: If the world wants to reduce the conflicts / casualties  by at least 50% the  crude price should be maintained under 40 dollars.  

Crude oil prices
Month Year Brent Dubai Indian Basket Oman WTI September, 2014 97.30 96.47 96.96 97.18 93.24 August, 2014 101.16 101.73 101.89 102.15 96.38 July, 2014 106.64 106.15 106.31 106.16 102.82 June, 2014 111.65 108.03 109.13 108.06 105.22 May, 2014 109.61 105.66 106.94 105.80 101.93 April, 2014 107.63 104.68 105.62 104.93 102.02 March, 2014 107.54 104.32 105.29 104.34 100.53 February, 2014 108.87 105.04 106.19 105.04 100.79 JANUARY, 2014 108.25 104.02 105.29 104.02 94.93 December, 2013 110.81 107.86 108.72 107.89 97.81 October, 2013 109.04 106.64 107.38 106.72 100.41 September, 2013 111.89 108.28 109.46 108.56 106.19 August, 2013 111.25 107.11 108.45 107.24 106.55 July, 2013 107.95 103.52 104.86 103.53 104.66 June, 2013 102.91 100.32 101.16 100.35 95.75 May, 2013 102.49 100.33 101.14 100.49 94.60 April, 2013 101.92 101.68 101.58 101.72 91.97 March, 2013 108.37 105.55 106.45 105.56 92.87 February, 2013 116.29 111.10 112.68 111.10 95.28 January, 2013 113.01 107.94 109.55 107.94 94.74 December, 2012 109.36 106.34 107.28 106.34 88.23 November, 2012 109.11 107.26 107.87 107.27 86.57 October, 2012 111.61 108.87 109.79 108.90 89.45 September, 2012 112.86 111.22 111.77 111.31 94.45 August, 2012 113.37 108.59 110.07 108.90 93.99 July, 2012 102.59 99.15 100.34 99.43 87.80 June, 2012 94.84 94.44 94.52 94.49 82.32 May, 2012 110.20 107.31 108.13 107.37 94.62 April, 2012 119.54 117.30 118.04 117.44 103.35 March, 2012 125.33 122.47 123.61 122.92 106.31 February, 2012 119.56 116.17 117.67 117.15 102.29 January, 2012 110.58 109.80 110.47 110.83 100.35 December, 2011 107.84 106.43 107.20 107.28 98.55 November, 2011 110.66 109.00 109.62 109.35 97.17 October, 2011 109.44 103.95 106.11 104.76 86.45 September, 2011 113.13 106.31 108.79 106.65 85.55 August, 2011 110.37 105.02 106.94 105.35 86.31 July, 2011 116.89 109.99 112.37 110.41 97.28 June, 2011 114.04 107.77 109.85 107.90 96.21 May, 2011 114.56 108.38 110.65 108.89 101.22 April, 2011 123.49 116.01 118.46 116.56 109.89 March, 2011 114.60 108.71 110.72 109.00 103.03 February, 2011 103.76 100.24 101.62 100.60 89.57 January, 2011 96.54 92.52 93.87 92.66 89.38 December, 2010 91.36 89.05 89.78 89.12 89.08 November, 2010 85.33 83.65 84.26 83.83 84.20 October, 2010 82.75 80.22 81.11 80.44 81.89 September, 2010 77.80 75.12 76.09 75.42 75.17 August, 2010 77.15 74.09 75.13 74.37 76.62 July, 2010 75.64 72.49 73.54 72.59 76.32 June, 2010 74.85 73.99 74.33 74.18 75.29 May, 2010 75.17 76.78 76.16 77.04 73.67 April, 2010 84.89 83.59 84.08 83.67 84.44 March, 2010 78.90 77.31 78.02 77.72 81.25 February, 2010 73.63 73.48 73.65 73.92 76.45 December, 2009 74.28 75.42 75.02 75.48 74.47 November 2009 76.66 77.71 77.39 77.88 78.06 October 2009 72.76 73.15 73.07 73.34 75.73 September 2009 67.39 67.64 67.70 68.16 69.41 August 2009 72.83 71.34 71.98 71.57 71.07 July 2009 64.61 64.82 64.83 65.08 64.10 June 2009 68.55 69.41 69.12 69.47 69.64 May 2009 57.48 57.85 58.00 57.96 59.45 April 2009 50.34 50.10 50.16 50.16 49.82 March 2009 46.55 45.59 46.02 45.83 48.00 February 2009 43.07 43.09 43.22 43.52 39.16 January 2009 43.59 44.12 44.00 44.45 41.80 December 2008 40.35 40.53 40.61 40.99 41.45 November 2008 52.51 49.84 50.91 50.04 57.41 October 2008 71.87 67.42 69.12 67.96 76.54 September 2008 98.13 95.90 96.81 96.13 103.61 August 2008 113.03 112.86 113.05 113.28 116.58 July 2008 133.18 131.27 132.47 132.81 133.30 June 2008 132.44 127.82 129.72 128.32 133.89 May 2008 122.73 119.50 120.91 119.80 125.48 April 2008 108.97 103.41 105.77 104.09 112.64 March 2008 103.66 96.76 99.76 97.86 105.46 February 2008 95.04 90.02 92.37 90.68 95.40 January 2008 92.00 87.37 89.52 88.55 92.98 December 2007 90.98 85.58 87.92 86.44 91.39 November 2007 92.61 86.87 89.11 87.07 94.74 October 2007 82.50 77.12 79.33 77.55 85.87 September 2007 76.87 73.36 74.78 73.56 79.98 August 2007 73.18 68.65 70.99 68.34 72.37 July 2007 77.01 69.49 72.69 70.09 74.10 June 2007 77.01 65.79 68.19 66.08 67.44 May 2007 67.23 64.61 65.79 65.05 63.40 April 2007 67.51 63.97 65.54 64.45 63.84 March 2007 62.15 58.80 60.26 59.19 60.63 February 2007 57.43 55.75 56.49 55.96 59.20 January 2007 53.68 51.69 52.62 52.14 54.17 December 2006 62.32 58.68 60.34 59.34 61.96 November 2006 58.92 56.72 57.79 57.36 58.82 October 2006 57.80 56.42 57.27 57.38 58.82 September 2006 61.71 59.82 61.04 61.01 63.74 August 2006 73.11 68.77 70.84 69.97 73.01 July 2006 73.66 69.17 71.36 70.22 74.40 June 2006 68.69 65.22 66.95 66.17 70.88 May 2006 69.83 65.00 67.41 66.30 70.87 April 2006 70.16 64.06 67.02 65.54 69.46 March 2006 62.10 57.82 60.01 59.19 62.82 February 2006 60.12 57.61 58.95 58.61 61.57 January 2006 63.05 58.44 60.54 59.26 65.44 December 2005 56.91 53.20 55.05 54.19 59.41 November 2005 55.18 51.39 53.14 52.52 58.27 October 2005 58.61 53.96 56.28 55.23 62.28 September 2005 62.91 56.54 59.91 58.35 65.52 August 2005 64.12 56.60 60.02 57.52 64.96 July 2005 57.58 52.83 55.01 53.46 58.58 June 2005 54.39 51.08 52.72 51.95 56.35 May 2005 48.56 45.40 47.02 46.41 49.79 April 2005 51.82 47.20 49.43 48.19 53.09 March 2005 52.91 45.84 49.27 47.21 54.27 February 2005 45.37 39.87 42.58 41.08 47.94 January 2005 44.23 37.92 41.00 39.19 47.04 December 2004 39.53 34.20 36.65 35.44 43.20 November 2004 42.84 34.87 38.82 36.69 48.44 October 2004 49.64 37.54 43.37 39.75 53.24 September 2004 43.25 35.55 39.15 36.55 45.90 August 2004 43.04 38.55 40.53 38.73 44.90 July 2004 38.32 34.65 36.35 35.08 42.83 June 2004 35.04 33.43 34.22 33.79 38.00 May 2004 37.80 34.74 36.09 34.87 40.24 April 2004 33.25 31.68 32.36 31.71 36.69
Source INDANE
Copyright © Indian Oil Corporation Ltd. Updated on November 10, 2014

Crude oil prices

  

Month Year	Brent	Dubai	Indian Basket	Oman	WTI
September, 2014	97.30	96.47	96.96	97.18	93.24
August, 2014	101.16	101.73	101.89	102.15	96.38
July, 2014	106.64	106.15	106.31	106.16	102.82
June, 2014	111.65	108.03	109.13	108.06	105.22
May, 2014	109.61	105.66	106.94	105.80	101.93
April, 2014	107.63	104.68	105.62	104.93	102.02
March, 2014	107.54	104.32	105.29	104.34	100.53
February, 2014	108.87	105.04	106.19	105.04	100.79
JANUARY, 2014	108.25	104.02	105.29	104.02	94.93
December, 2013	110.81	107.86	108.72	107.89	97.81
October, 2013	109.04	106.64	107.38	106.72	100.41
September, 2013	111.89	108.28	109.46	108.56	106.19
August, 2013	111.25	107.11	108.45	107.24	106.55
July, 2013	107.95	103.52	104.86	103.53	104.66
June, 2013	102.91	100.32	101.16	100.35	95.75
May, 2013	102.49	100.33	101.14	100.49	94.60
April, 2013	101.92	101.68	101.58	101.72	91.97
March, 2013	108.37	105.55	106.45	105.56	92.87
February, 2013	116.29	111.10	112.68	111.10	95.28
January, 2013	113.01	107.94	109.55	107.94	94.74
December, 2012	109.36	106.34	107.28	106.34	88.23
November, 2012	109.11	107.26	107.87	107.27	86.57
October, 2012	111.61	108.87	109.79	108.90	89.45
September, 2012	112.86	111.22	111.77	111.31	94.45
August, 2012	113.37	108.59	110.07	108.90	93.99
July, 2012	102.59	99.15	100.34	99.43	87.80
June, 2012	94.84	94.44	94.52	94.49	82.32
May, 2012	110.20	107.31	108.13	107.37	94.62
April, 2012	119.54	117.30	118.04	117.44	103.35
March, 2012	125.33	122.47	123.61	122.92	106.31
February, 2012	119.56	116.17	117.67	117.15	102.29
January, 2012	110.58	109.80	110.47	110.83	100.35
December, 2011	107.84	106.43	107.20	107.28	98.55
November, 2011	110.66	109.00	109.62	109.35	97.17
October, 2011	109.44	103.95	106.11	104.76	86.45
September, 2011	113.13	106.31	108.79	106.65	85.55
August, 2011	110.37	105.02	106.94	105.35	86.31
July, 2011	116.89	109.99	112.37	110.41	97.28
June, 2011	114.04	107.77	109.85	107.90	96.21
May, 2011	114.56	108.38	110.65	108.89	101.22
April, 2011	123.49	116.01	118.46	116.56	109.89
March, 2011	114.60	108.71	110.72	109.00	103.03
February, 2011	103.76	100.24	101.62	100.60	89.57
January, 2011	96.54	92.52	93.87	92.66	89.38
December, 2010	91.36	89.05	89.78	89.12	89.08
November, 2010	85.33	83.65	84.26	83.83	84.20
October, 2010	82.75	80.22	81.11	80.44	81.89
September, 2010	77.80	75.12	76.09	75.42	75.17
August, 2010	77.15	74.09	75.13	74.37	76.62
July, 2010	75.64	72.49	73.54	72.59	76.32
June, 2010	74.85	73.99	74.33	74.18	75.29
May, 2010	75.17	76.78	76.16	77.04	73.67
April, 2010	84.89	83.59	84.08	83.67	84.44
March, 2010	78.90	77.31	78.02	77.72	81.25
February, 2010	73.63	73.48	73.65	73.92	76.45
December, 2009	74.28	75.42	75.02	75.48	74.47
November 2009	76.66	77.71	77.39	77.88	78.06
October 2009	72.76	73.15	73.07	73.34	75.73
September 2009	67.39	67.64	67.70	68.16	69.41
August 2009	72.83	71.34	71.98	71.57	71.07
July 2009	64.61	64.82	64.83	65.08	64.10
June 2009	68.55	69.41	69.12	69.47	69.64
May 2009	57.48	57.85	58.00	57.96	59.45
April 2009	50.34	50.10	50.16	50.16	49.82
March 2009	46.55	45.59	46.02	45.83	48.00
February 2009	43.07	43.09	43.22	43.52	39.16
January 2009	43.59	44.12	44.00	44.45	41.80
December 2008	40.35	40.53	40.61	40.99	41.45
November 2008	52.51	49.84	50.91	50.04	57.41
October 2008	71.87	67.42	69.12	67.96	76.54
September 2008	98.13	95.90	96.81	96.13	103.61
August 2008	113.03	112.86	113.05	113.28	116.58
July 2008	133.18	131.27	132.47	132.81	133.30
June 2008	132.44	127.82	129.72	128.32	133.89
May 2008	122.73	119.50	120.91	119.80	125.48
April 2008	108.97	103.41	105.77	104.09	112.64
March 2008	103.66	96.76	99.76	97.86	105.46
February 2008	95.04	90.02	92.37	90.68	95.40
January 2008	92.00	87.37	89.52	88.55	92.98
December 2007	90.98	85.58	87.92	86.44	91.39
November 2007	92.61	86.87	89.11	87.07	94.74
October 2007	82.50	77.12	79.33	77.55	85.87
September 2007	76.87	73.36	74.78	73.56	79.98
August 2007	73.18	68.65	70.99	68.34	72.37
July 2007	77.01	69.49	72.69	70.09	74.10
June 2007	77.01	65.79	68.19	66.08	67.44
May 2007	67.23	64.61	65.79	65.05	63.40
April 2007	67.51	63.97	65.54	64.45	63.84
March 2007	62.15	58.80	60.26	59.19	60.63
February 2007	57.43	55.75	56.49	55.96	59.20
January 2007	53.68	51.69	52.62	52.14	54.17
December 2006	62.32	58.68	60.34	59.34	61.96
November 2006	58.92	56.72	57.79	57.36	58.82
October 2006	57.80	56.42	57.27	57.38	58.82
September 2006	61.71	59.82	61.04	61.01	63.74
August 2006	73.11	68.77	70.84	69.97	73.01
July 2006	73.66	69.17	71.36	70.22	74.40
June 2006	68.69	65.22	66.95	66.17	70.88
May 2006	69.83	65.00	67.41	66.30	70.87
April 2006	70.16	64.06	67.02	65.54	69.46
March 2006	62.10	57.82	60.01	59.19	62.82
February 2006	60.12	57.61	58.95	58.61	61.57
January 2006	63.05	58.44	60.54	59.26	65.44
December 2005	56.91	53.20	55.05	54.19	59.41
November 2005	55.18	51.39	53.14	52.52	58.27
October 2005	58.61	53.96	56.28	55.23	62.28
September 2005	62.91	56.54	59.91	58.35	65.52
August 2005	64.12	56.60	60.02	57.52	64.96
July 2005	57.58	52.83	55.01	53.46	58.58
June 2005	54.39	51.08	52.72	51.95	56.35
May 2005	48.56	45.40	47.02	46.41	49.79
April 2005	51.82	47.20	49.43	48.19	53.09
March 2005	52.91	45.84	49.27	47.21	54.27
February 2005	45.37	39.87	42.58	41.08	47.94
January 2005	44.23	37.92	41.00	39.19	47.04
December 2004	39.53	34.20	36.65	35.44	43.20
November 2004	42.84	34.87	38.82	36.69	48.44
October 2004	49.64	37.54	43.37	39.75	53.24
September 2004	43.25	35.55	39.15	36.55	45.90
August 2004	43.04	38.55	40.53	38.73	44.90
July 2004	38.32	34.65	36.35	35.08	42.83
June 2004	35.04	33.43	34.22	33.79	38.00
May 2004	37.80	34.74	36.09	34.87	40.24
April 2004	33.25	31.68	32.36	31.71	36.69

Month Year

Brent

Dubai

Indian Basket

Oman

WTI

September, 2014

97.30

96.47

96.96

97.18

93.24

August, 2014

101.16

101.73

101.89

102.15

96.38

July, 2014

106.64

106.15

106.31

106.16

102.82

June, 2014

111.65

108.03

109.13

108.06

105.22

May, 2014

109.61

105.66

106.94

105.80

101.93

April, 2014

107.63

104.68

105.62

104.93

102.02

March, 2014

107.54

104.32

105.29

104.34

100.53

February, 2014

108.87

105.04

106.19

105.04

100.79

JANUARY, 2014

108.25

104.02

105.29

104.02

94.93

December, 2013

110.81

107.86

108.72

107.89

97.81

October, 2013

109.04

106.64

107.38

106.72

100.41

September, 2013

111.89

108.28

109.46

108.56

106.19

August, 2013

111.25

107.11

108.45

107.24

106.55

July, 2013

107.95

103.52

104.86

103.53

104.66

June, 2013

102.91

100.32

101.16

100.35

95.75

May, 2013

102.49

100.33

101.14

100.49

94.60

April, 2013

101.92

101.68

101.58

101.72

91.97

March, 2013

108.37

105.55

106.45

105.56

92.87

February, 2013

116.29

111.10

112.68

111.10

95.28

January, 2013

113.01

107.94

109.55

107.94

94.74

December, 2012

109.36

106.34

107.28

106.34

88.23

November, 2012

109.11

107.26

107.87

107.27

86.57

October, 2012

111.61

108.87

109.79

108.90

89.45

September, 2012

112.86

111.22

111.77

111.31

94.45

August, 2012

113.37

108.59

110.07

108.90

93.99

July, 2012

102.59

99.15

100.34

99.43

87.80

June, 2012

94.84

94.44

94.52

94.49

82.32

May, 2012

110.20

107.31

108.13

107.37

94.62

April, 2012

119.54

117.30

118.04

117.44

103.35

March, 2012

125.33

122.47

123.61

122.92

106.31

February, 2012

119.56

116.17

117.67

117.15

102.29

January, 2012

110.58

109.80

110.47

110.83

100.35

December, 2011

107.84

106.43

107.20

107.28

98.55

November, 2011

110.66

109.00

109.62

109.35

97.17

October, 2011

109.44

103.95

106.11

104.76

86.45

September, 2011

113.13

106.31

108.79

106.65

85.55

August, 2011

110.37

105.02

106.94

105.35

86.31

July, 2011

116.89

109.99

112.37

110.41

97.28

June, 2011

114.04

107.77

109.85

107.90

96.21

May, 2011

114.56

108.38

110.65

108.89

101.22

April, 2011

123.49

116.01

118.46

116.56

109.89

March, 2011

114.60

108.71

110.72

109.00

103.03

February, 2011

103.76

100.24

101.62

100.60

89.57

January, 2011

96.54

92.52

93.87

92.66

89.38

December, 2010

91.36

89.05

89.78

89.12

89.08

November, 2010

85.33

83.65

84.26

83.83

84.20

October, 2010

82.75

80.22

81.11

80.44

81.89

September, 2010

77.80

75.12

76.09

75.42

75.17

August, 2010

77.15

74.09

75.13

74.37

76.62

July, 2010

75.64

72.49

73.54

72.59

76.32

June, 2010

74.85

73.99

74.33

74.18

75.29

May, 2010

75.17

76.78

76.16

77.04

73.67

April, 2010

84.89

83.59

84.08

83.67

84.44

March, 2010

78.90

77.31

78.02

77.72

81.25

February, 2010

73.63

73.48

73.65

73.92

76.45

December, 2009

74.28

75.42

75.02

75.48

74.47

November 2009

76.66

77.71

77.39

77.88

78.06

October 2009

72.76

73.15

73.07

73.34

75.73

September 2009

67.39

67.64

67.70

68.16

69.41

August 2009

72.83

71.34

71.98

71.57

71.07

July 2009

64.61

64.82

64.83

65.08

64.10

June 2009

68.55

69.41

69.12

69.47

69.64

May 2009

57.48

57.85

58.00

57.96

59.45

April 2009

50.34

50.10

50.16

50.16

49.82

March 2009

46.55

45.59

46.02

45.83

48.00

February 2009

43.07

43.09

43.22

43.52

39.16

January 2009

43.59

44.12

44.00

44.45

41.80

December 2008

40.35

40.53

40.61

40.99

41.45

November 2008

52.51

49.84

50.91

50.04

57.41

October 2008

71.87

67.42

69.12

67.96

76.54

September 2008

98.13

95.90

96.81

96.13

103.61

August 2008

113.03

112.86

113.05

113.28

116.58

July 2008

133.18

131.27

132.47

132.81

133.30

June 2008

132.44

127.82

129.72

128.32

133.89

May 2008

122.73

119.50

120.91

119.80

125.48

April 2008

108.97

103.41

105.77

104.09

112.64

March 2008

103.66

96.76

99.76

97.86

105.46

February 2008

95.04

90.02

92.37

90.68

95.40

January 2008

92.00

87.37

89.52

88.55

92.98

December 2007

90.98

85.58

87.92

86.44

91.39

November 2007

92.61

86.87

89.11

87.07

94.74

October 2007

82.50

77.12

79.33

77.55

85.87

September 2007

76.87

73.36

74.78

73.56

79.98

August 2007

73.18

68.65

70.99

68.34

72.37

July 2007

77.01

69.49

72.69

70.09

74.10

June 2007

77.01

65.79

68.19

66.08

67.44

May 2007

67.23

64.61

65.79

65.05

63.40

April 2007

67.51

63.97

65.54

64.45

63.84

March 2007

62.15

58.80

60.26

59.19

60.63

February 2007

57.43

55.75

56.49

55.96

59.20

January 2007

53.68

51.69

52.62

52.14

54.17

December 2006

62.32

58.68

60.34

59.34

61.96

November 2006

58.92

56.72

57.79

57.36

58.82

October 2006

57.80

56.42

57.27

57.38

58.82

September 2006

61.71

59.82

61.04

61.01

63.74

August 2006

73.11

68.77

70.84

69.97

73.01

July 2006

73.66

69.17

71.36

70.22

74.40

June 2006

68.69

65.22

66.95

66.17

70.88

May 2006

69.83

65.00

67.41

66.30

70.87

April 2006

70.16

64.06

67.02

65.54

69.46

March 2006

62.10

57.82

60.01

59.19

62.82

February 2006

60.12

57.61

58.95

58.61

61.57

January 2006

63.05

58.44

60.54

59.26

65.44

December 2005

56.91

53.20

55.05

54.19

59.41

November 2005

55.18

51.39

53.14

52.52

58.27

October 2005

58.61

53.96

56.28

55.23

62.28

September 2005

62.91

56.54

59.91

58.35

65.52

August 2005

64.12

56.60

60.02

57.52

64.96

July 2005

57.58

52.83

55.01

53.46

58.58

June 2005

54.39

51.08

52.72

51.95

56.35

May 2005

48.56

45.40

47.02

46.41

49.79

April 2005

51.82

47.20

49.43

48.19

53.09

March 2005

52.91

45.84

49.27

47.21

54.27

February 2005

45.37

39.87

42.58

41.08

47.94

January 2005

44.23

37.92

41.00

39.19

47.04

December 2004

39.53

34.20

36.65

35.44

43.20

November 2004

42.84

34.87

38.82

36.69

48.44

October 2004

49.64

37.54

43.37

39.75

53.24

September 2004

43.25

35.55

39.15

36.55

45.90

August 2004

43.04

38.55

40.53

38.73

44.90

July 2004

38.32

34.65

36.35

35.08

42.83

June 2004

35.04

33.43

34.22

33.79

38.00

May 2004

37.80

34.74

36.09

34.87

40.24

April 2004

33.25

31.68

32.36

31.71

36.69

 Source INDANE

Copyright © Indian Oil Corporation Ltd.

Updated on November 10, 2014

Copyright © Indian Oil Corporation Ltd.

Updated on November 10, 2014