Taggant Technology provides Fuel Security in Troubled Fuel Markets
Fuel counterfeiting is a global problem that is expected to rise with the current strain on the fuel markets. Fuel security and counterfeiting of fuel is most prevalent in Europe where fuel currently sells for $7.00 -$8.50 per gallon. About 10% of gasoline sold in Bulgaria is counterfeited according to CBC News. The Guardian reported in 2008, that in certain regions in the UK, smuggled fuel amounts to almost 25% of all fuel sold.
Due to recent events in the Middle East and Asia, fuel prices are expected to spike, making fuel a more attractive target for smuggling and counterfeiting. In North America, Chesapeake Energy expects the average price of gasoline to reach $5.50 per gallon by 2012, a record high for the USA. Global prices are expected to be even steeper than the current numbers. Taggant technology can help governments and fuel companies improve their fuel security.
Taggants in fuel act as an invisible marker allowing fuel companies and governments the ability to track and authenticate fuel anywhere in the fuel supply chain. Taggants can determine if fuel is authentic and also if it has been diluted or tampered with in anyway.
Taggants can be integrated into fuel at any point during production. Once incorporated, the taggants are completely invisible and undetectable to the human eye. Taggants cannot be detected or reproduced by those trying to counterfeit or dilute the fuel.
“It is important that fuel companies take the necessary precautions in order to avoid having their brand utilized to sell illegal and diluted fuel,” said Tal Gilat, CEO of InkSure Technologies, a company that produces taggant technology for fuel security. “
Due to recent events in the Middle East and Asia, fuel prices are expected to spike, making fuel a more attractive target for smuggling and counterfeiting. In North America, Chesapeake Energy expects the average price of gasoline to reach $5.50 per gallon by 2012, a record high for the USA. Global prices are expected to be even steeper than the current numbers. Taggant technology can help governments and fuel companies improve their fuel security.
Taggants in fuel act as an invisible marker allowing fuel companies and governments the ability to track and authenticate fuel anywhere in the fuel supply chain. Taggants can determine if fuel is authentic and also if it has been diluted or tampered with in anyway.
Taggants can be integrated into fuel at any point during production. Once incorporated, the taggants are completely invisible and undetectable to the human eye. Taggants cannot be detected or reproduced by those trying to counterfeit or dilute the fuel.
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