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PSAD-80-30 1 (1980-04-03)

handle is hein.gao/gaobabakt0001 and id is 1 raw text is: 



BY THE COMPTROLLER GENERAL



Report To The Congress


OF THE UNITED STATES






Purchase Price Of Strategic

Petroleum Reserve Oil Fair

But Payment Timing Is Costly



The Defense Fuel Supply Center does a good
job of negotiating competitive market prices
for Strategic Petroleum Reserve crude oil
purchases. However, new Treasury policies,
which preclude paying bills before they are
due and taking prompt payment discounts
costing more than they save, have not been
adequately implemented. If payment pro-
cedures wereimproved, the Government could
save $17.7 million on the remaining crude
oil purchases.

Another $18.5 million could be saved in
crude oil costs alone by new policies requiring

    --all agencies to consider the Govern-
    ment's cost of money while evaluating
    bids and

    --the Department of the Treasury to
    develop and periodically revise an esti-
    mate of the cost of money to be used
    during offer and payment evaluations.
                                                           111993


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                                                                PSAD-80-30
   1CCOU                                                        APRIL 3, 1960

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