Courtesy: Prof R.K. Guptha, trainers forum

Here under are the average crude oil prices in USA right from 1949 to May 2010.

Domestic Crude Oil Prices

1946-Present

U.S. Average (in $/bbl.)

Year Nominal Inflation Adjusted

1946 $1.63 $17.92
1947 $2.16 $21.06
1948 $2.77 $25.12
1949 $2.77 $25.36
1950 $2.77 $25.10
1951 $2.77 $23.26
1952 $2.77 $22.74
1953 $2.92 $23.74
1954 $2.99 $24.27
1955 $2.93 $23.81
1956 $2.94 $23.59
1957 $3.14 $24.35
1958 $3.00 $22.66
1959 $3.00 $22.43
1960 $2.91 $21.47
1961 $2.85 $20.78
1962 $2.85 $20.54
1963 $2.91 $20.73
1964 $3.00 $20.08
1965 $3.01 $20.81
1966 $3.10 $20.82
1967 $3.12 $20.39
1968 $3.18 $19.90
1969 $3.32 $19.73
1970 $3.39 $19.04
1971 $3.60 $19.38
1972 $3.60 $20.78
1973 $4.75 $23.13
1974 $9.35 $41.27
1975 $12.21 $49.42
1976 $13.10 $50.19
1977 $14.40 $51.76
1978 $14.95 $49.99
1979 $25.10 $74.67
1980 $37.42 $99.11 *
1981 $35.75 $85.82 *
1982 $31.83 $71.95
1983 $29.08 $63.66
1984 $28.75 $60.34
1985 $26.92 $54.54
1986 $14.44 $28.70
1987 $17.75 $33.05
1988 $14.87 $27.45
1989 $18.33 $32.22
1990 $23.19 $38.57
1991 $20.20 $32.33
1992 $19.25 $29.90
1993 $16.75 $25.28
1994 $15.66 $23.02
1995 $16.75 $23.96
1996 $20.46 $28.42
1997 $18.64 $25.32
1998 $11.91 $15.93
1999 $16.56 $21.62
2000 $27.39 $34.65
2001 $23.00 $28.32
2002 $22.81 $27.62
2003 $27.69 $32.82
2004 $37.66 $43.42
2005 $50.04 $55.80
2006 $58.30 $63.02
2007 $64.20 $67.37
2008 $91.48 $92.31
2009 $53.48 $54.24 **
2010 Partial $70.67 $70.84 *

Monthly Average Domestic Crude Oil Prices 2009

U.S. Average (in $/bbl.)

Month Nominal Inflation Adjusted

Jan-09 $33.07 $33.94
Feb-09 $31.04 $31.70
Mar-09 $39.88 $40.63
Apr-09 $42.20 $42.88
May-09 $51.02 $51.70
Jun-09 $61.46 $61.74
Jul-09 $56.16 $56.51
Aug-09 $62.80 $63.05
Sep-09 $60.98 $61.18
Oct-09 $67.43 $67.59
Nov-09 $69.43 $69.54
Dec-09 $66.33 $66.56
Jan-10 $69.85 $69.85
Feb-10 $68.04 $68.42
Mar-10 $72.90 $73.01
Apr-10 $76.31 $76.29
May-10 $66.25 $66.25

The government had increased prices in 2008 quoting peak crude oil prices above 90$. Same is situation now.So where is need to raise the fuel prices?

In 2009 prices of crude were very low but government never reduced back the prices.

In fact in india once prices are increased these are never reduced back.

The manner in which MM Singh government is making fool of Indians is a blot on democracy and this government bears no character at all. They must be thrown out.

The tax component in fuel is 55% including central and state levies but it is not reduced. In fact every time fuel prices are increased government revenue goes up.

Despite severe criticism and 20% consumer price rise every year in country since MM singh became PM, the government has again shamelessly and arrogantly raised petrol prices. This will have spiralling effect on prices in country and inflation will go up by another 3%. They are just ot bothered. Loot is going on in coutnry.

The people of country are simply acting complacent and cowards.

Demand reverting of prices to 2009 level crude prices in world.

If one sees above table in 2008 the prices were as high as now and fuel prices were then revised. So Where is need to increase prices now?

Prof R K Gupta
India FORCE

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