[xBhp Universal Thread]: Fuels - Page 11 - xBhp.com : The Global Indian Biking Community

kriss · 01-28-2009, 07:17 PM

Taking cue from his leader's remark, Petroleum Minister Murli Deora squeezed in a proposal before the Cabinet for a cut in petrol prices by Rs 5 a litre, diesel by Rs 2 a litre and cooking gas LPG by Rs 25 a cylinder with effect from Wednesday night.

On Tuesday, UPA chairperson Sonia Gandhi told a rally that she hoped that petrol prices would be reduced soon. "The prices of petroleum products have decreased recently and I expect that soon they will dip further."

Sources said that though the proposal to the Cabinet Committee on Economic Affairs -- which meets on Wednesday evening -- provides the option of taking auto fuel pricing out of government realm, it was likely to be left for the next government that would be in place in June after general elections.

The second option, which has the political consent, for the CCEA is to bring down petrol prices by Rs 5, diesel by Rs 2 and LPG by Rs 25, they said. Deora, however, maintained that a decision on the exact reductions would be decided at the CCEA.

The pricing issue is usually decided by a smaller Cabinet Committee on Political Affairs but that was not slated for Wednesday, said sources.

The CCEA would also approve that as an interim measure, the Finance Ministry would provide Rs 44,967 crores worth of oil bonds as the government's share of under-recoveries, upstream companies would yield Rs 25,929 crores as discounts on crude oil and LPG to oil marketing companies, and the OMCs absorb Rs 21, 957 crores in their balance sheet.

The state-run OMCs suffered Rs 92,853 crores as under-recoveries in the first half of this fiscal year as government held on to prices despite a sharp surge in global crude oil prices.

Crude oil had climbed to a record high of $147 a barrel in July, but has since come down to $40 a barrel prompting the government to cut petrol prices on December 5 by Rs 5 and diesel by Rs 2 a litre.

Source

Aryan · 01-28-2009, 07:23 PM

Topic Merged.

Yes, I have been hearing this news for a little while now. If the petrol prices are indeed slashed by Rs.5/-, that would make normal fuel at Rs.40/- per litre, here in Delhi!

winzeee · 01-28-2009, 07:27 PM

Its great news ,if it happens that is
W

HydBiker · 01-28-2009, 07:36 PM

Hmmm.. well, I have two bikes running in reserve now

Also, ET says the story a little different -
Govt may cut petrol price by Rs 4 & diesel by Re one a lit

Quote:

Originally Posted by Aryan

Topic Merged.

Yes, I have been hearing this news for a little while now. If the petrol prices are indeed slashed by Rs.5/-, that would make normal fuel at Rs.40/- per litre, here in Delhi!

You get it about 5-6 rupees cheaper than us! may be we can smuggle some petrol from Delhi.... even better, hope our bikes can run on aviation fuel! that attracts only 4% tax here in AP as against abt 35% in petrol

Aryan · 01-28-2009, 11:12 PM

Breaking News of the hour: Fuel prices cut: Petrol prices cut by Rs 5 per litre, diesel by Rs 2 per litre..!!

HydBiker · 01-28-2009, 11:20 PM

I logged out and logged in back after this post!!! Aryan, go get some candy in ur mouth (moo meetha karo)

BTW, gas cylinder also costs Rs 25 less...
Aaj Tak: India's Best channel for Breaking News from India, World, Business, Sports, Bollywood

rohitmundra · 01-28-2009, 11:22 PM

^^^^
and cooking gas by rs25

ooh man...what a feeling petrol rs.40/ltr
too good...droollll

Aryan · 01-28-2009, 11:22 PM

Quote:

Originally Posted by HydBiker

I logged out and logged in back after this post!!!

xBhp sure keeps us hooked mate!

Quote:

Originally Posted by HydBiker

Aryan, go get some candy in ur mouth (moo meetha karo)

It sure is good time to get some candy. After all, a fuel price cut does mean an increase in touring et al,

not to mention the fuel expenses are controlled to certain extent...

P.S: I was planning on getting fuel tomorrow morning, before going to work. Now, it'll be even better, getting petrol at 40 rupees a litre.

harshaguduru · 01-28-2009, 11:22 PM

my car is in reserve but just filled 300RS in my bike today..thanx for letting us know aryan...

HydBiker · 01-28-2009, 11:27 PM

Quote:

Originally Posted by harshaguduru

my car is in reserve but just filled 300RS in my bike today..thanx for letting us know aryan...

drain that petrol and fill in the new cheaper one... you'll feel good

01-28-2009, 07:17 PM	#101 (permalink)
kriss Senior Member Join Date: Sep 2007 Location: City of biriyani Posts: 1,380	Petrol Prices Slashed by 5 rupees Taking cue from his leader's remark, Petroleum Minister Murli Deora squeezed in a proposal before the Cabinet for a cut in petrol prices by Rs 5 a litre, diesel by Rs 2 a litre and cooking gas LPG by Rs 25 a cylinder with effect from Wednesday night. On Tuesday, UPA chairperson Sonia Gandhi told a rally that she hoped that petrol prices would be reduced soon. "The prices of petroleum products have decreased recently and I expect that soon they will dip further." Sources said that though the proposal to the Cabinet Committee on Economic Affairs -- which meets on Wednesday evening -- provides the option of taking auto fuel pricing out of government realm, it was likely to be left for the next government that would be in place in June after general elections. The second option, which has the political consent, for the CCEA is to bring down petrol prices by Rs 5, diesel by Rs 2 and LPG by Rs 25, they said. Deora, however, maintained that a decision on the exact reductions would be decided at the CCEA. The pricing issue is usually decided by a smaller Cabinet Committee on Political Affairs but that was not slated for Wednesday, said sources. The CCEA would also approve that as an interim measure, the Finance Ministry would provide Rs 44,967 crores worth of oil bonds as the government's share of under-recoveries, upstream companies would yield Rs 25,929 crores as discounts on crude oil and LPG to oil marketing companies, and the OMCs absorb Rs 21, 957 crores in their balance sheet. The state-run OMCs suffered Rs 92,853 crores as under-recoveries in the first half of this fiscal year as government held on to prices despite a sharp surge in global crude oil prices. Crude oil had climbed to a record high of $147 a barrel in July, but has since come down to $40 a barrel prompting the government to cut petrol prices on December 5 by Rs 5 and diesel by Rs 2 a litre. Source __________________ There are Bikers There are Super Bikers... And Then there's KRISS click here for Click here to subscribe SMS alerts for all upcoming Xbhp- Hyderabad G2G's and Rides.

01-28-2009, 07:23 PM	#102 (permalink)
Aryan Senior Member Join Date: Jan 2006 Location: New Delhi/ Shillong Posts: 18,274	Topic Merged. Yes, I have been hearing this news for a little while now. If the petrol prices are indeed slashed by Rs.5/-, that would make normal fuel at Rs.40/- per litre, here in Delhi! __________________ ...in search of that perfect world - My Travel Blog :)

01-28-2009, 07:27 PM	#103 (permalink)
winzeee Senior Member Join Date: May 2008 Location: Cybertron Posts: 684	Its great news ,if it happens that is W __________________

01-28-2009, 11:12 PM	#105 (permalink)
Aryan Senior Member Join Date: Jan 2006 Location: New Delhi/ Shillong Posts: 18,274	Breaking News of the hour: Fuel prices cut: Petrol prices cut by Rs 5 per litre, diesel by Rs 2 per litre..!! __________________ ...in search of that perfect world - My Travel Blog :)

01-28-2009, 11:20 PM	#106 (permalink)
HydBiker Senior Member Join Date: Sep 2008 Location: Hyderabad Posts: 3,205	I logged out and logged in back after this post!!! Aryan, go get some candy in ur mouth (moo meetha karo) BTW, gas cylinder also costs Rs 25 less... Aaj Tak: India's Best channel for Breaking News from India, World, Business, Sports, Bollywood __________________ Jawahar Navodaya Vidyalaya Alumni? PM me for an Invitation to *myJNV - the navodayan connect!*

01-28-2009, 11:22 PM	#107 (permalink)
rohitmundra Analyst Join Date: Sep 2007 Location: Mumbai....New Delhi Posts: 626	^^^^ and cooking gas by rs25 ooh man...what a feeling petrol rs.40/ltr too good...droollll __________________ its all about CC...

01-28-2009, 11:22 PM	#109 (permalink)
harshaguduru Senior Member Join Date: Sep 2008 Location: Hyderabad Posts: 342	my car is in reserve but just filled 300RS in my bike today..thanx for letting us know aryan... __________________ Why is the man who invests all your money, called a broker?

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