Fuel prices are at an all-time high in India this month, even after the country benefitted from 5 years of low crude oil prices. Amit Bhandari, Fellow, Energy and Environment Studies Programme, explains why fuel prices are high and how the Government of India could have prevented this ongoing crisis.
The common Indian complaint is that, despite a global trend of falling crude oil prices, the price of petrol has not reduced. However, if the dollar price is examined with the price of oil, it becomes clear that Indians are paying less for fuel now than they would have, had the 2003 pricing trend continued.
India could save $80 billion annually if oil prices stay at the current 12-year low. Policy-makers must use this opportunity to lock-in energy prices for the long-term. Financial markets, through futures and options, offer a way to make these savings permanent, and the Ministry of Finance must formulate ground rules for hedging.
Amit Bhandari, Energy and Environment Fellow at Gateway House, analyses the impact of the unrest in Iraq on India’s crude oil imports
In 'India-Latin America Engagements', the Latin America Desk at Gateway House presents a selection of news of India’s engagement with the region during the previous month
In recent years, U.S. oil and gas imports have declined due to the development of shale resources in the country. How will the production of shale oil, increase in oil production by non-OPEC countries, supply disruptions in West Asia and economic growth in India and China impact global crude oil prices?
In the absence of a debate in India on Iran’s nuclear programme, ‘Troubling Tehran' is a significant first attempt to go beyond Western narratives and ask pertinent questions
Gateway House’s Ambassador R. Viswanathan was interviewed by the Inter-American Dialogue, a U.S.-based think tank, to discuss India’s involvement in Latin America oil market. He argues that Latin America with its surplus crude and opportunities for upstream investment fits in with India's energy security strategy.
After Iraqi Prime Minister Nouri al-Maliki’s recent visit to India, cooperation in the energy sector could become the cornerstone of the bilateral relationship. A lot depends on India’s response to the opportunities offered by Iraq, and on how India triangulates its foreign policy with Iraq, Iran and Saudi Arabia
The Depsang incursion had the potential to stifle economic and cultural relations between India and China. Gateway House interviews Dr. Liu Youfa, Consul General, People’s Republic of China, to discuss the bilateral mechanisms that the two countries can build on and their role in a globalising world.