Petrol prices update thread

[docted]

ok guys here`s the SHOCKER you did not want to know !!!!

the so called Oil companies making major losses Every day, actually MAKE PROFIT EVERY YEAR !!!

HPCL 1,301

http://www.hindustanpetroleum.com/Upload/En/UPdf/Profit_Loss_2009-10.pdf

Bharat petroleum 1,719.98
http://www.bharatpetroleum.com/Admin...ort%202010.pdf (page 17)

Indian Oil 3905.16

http://www.iocl.com/download/Audited_Financial_Results_2010-11.pdf

so who actually is making the loss ???

BTW all figures are in CRORES !!!!!!!!!

ps i did not study balance sheet so please do correct if need be .

cheers !

[princesirohi]

Thats a billion dollar question.

Actually the real fact is that these oil companies are not fully private. These are PPP i.e. comes under the government. So in short even the government is supporting (or whatever) these companies. I guess you got the drift now.

So this PPP protects these oil companies from being shut down.

what about Shell, is it also PPP, coz i don't think so...

so government does this through PPP, it taxes its own companies, so that half of the public money that comes through the sale of petrol is gone to government in taxes so these companies go into debt and then the money collected through taxes is again pumped into these companies as subsidy, defies logic, why don't govenrment simply reduce the taxes to the limit that these oil companies do not suffer loss.

[madhav krishna]

what about Shell, is it also PPP, coz i don't think so...

Nope. Shell, reliance ,etc are not PPP. They are completely private. Thats the reason that these companies dont get subsidies from govt. & hence the higher fuel prices.

so government does this through PPP, it taxes its own companies, so that half of the public money that comes through the sale of petrol is gone to government in taxes so these companies go into debt and then the money collected through taxes is again pumped into these companies as subsidy, defies logic, why don't govenrment simply reduce the taxes to the limit that these oil companies do not suffer loss.

Well unfortunately its true. A lot of people's salary & projects (road construction ,etc) depends on these taxes. So increasing & decreasing the taxes depending on the fuel prices wouldnt be easy.

[onlinesatish]

Price hike again!

Petrol, diesel prices hiked again - The Times of India

NEW DELHI: The government has hiked petrol and diesel prices by a marginal Rs 0.27 a litre and Rs 0.15 per litre respectively following increase in the commission paid to petrol pump dealers.

The government approved raising dealer's commission paid on petrol from Rs 1.218 per kilolitre to Rs 1,499 per kl, resulting in a Rs 0.27 per litre increase in retail price with effect from midnight, an official said here.

Similarly, the dealers' commission on diesel was hiked from Rs 757 per kl to Rs 912 per kl, resulting in a Rs 0.15 per litre increase in rates at retail level.

Petrol, at present, is priced at Rs 63.37 per litre in Delhi and will from tomorrow cost Rs 63.64 per litre. Diesel, whose rates had last week been hiked by Rs 3 a litre, will cost Rs 41.27 per litre instead of 41.12 a litre.

The official said the increase in dealers' commission is lower than 39.5 paisa hike recommended by an expert committee of the ministry of petroleum and natural gas.

Similarly, the increase in commission on diesel too is lower than 17 paisa per litre increase suggested by the committee which was headed by Apurva Chandra, joint secretary (marketing) in the ministry of petroleum and natural gas.

[pulsar_flame]

all super bikes are coming to india but petrol price are going up like hell...

[saurabh81]

Shell Petrol cheaper than Govt. petrol !!!

Shell Reduced petrol price again. Today's price in Bangalore Rs. 70.65 for regular petrol, While BP is 71.38 for regular petrol...

This is the first time is has happened that Pvt. petrol became cheaper than Govt. petrol...

P.S. After hearing 70.65 for regular petrol as "CHEAPER" petrol some delhi ppl might faint, but they might not be knowing that here in Bangalore we paid up to Rs. 74.95 for regular petrol till a few week back...

[saipranav]

there is a few paises of decrease in hyderabad, we were paying 75.70 here... shell is decreasing prices as international prices decrease, and govt. is increasing prices every friday...like a new movie releases <_<

[madhav krishna]

Shell Reduced petrol price again. Today's price in Bangalore Rs. 70.65 for regular petrol, While BP is 71.38 for regular petrol...

This is the first time is has happened that Pvt. petrol became cheaper than Govt. petrol...

P.S. After hearing 70.65 for regular petrol as "CHEAPER" petrol some delhi ppl might faint, but they might not be knowing that here in Bangalore we paid up to Rs. 74.95 for regular petrol till a few week back...

Are you sure about that?? Because yesterday only i filled petrol & it was around 71.XX for normal petrol.

[saurabh81]

Are you sure about that?? Because yesterday only i filled petrol & it was around 71.XX for normal petrol.

I filled yesterday morning @ Hosur road @ 70.65, the attendant informed me that it got changed yesterday only...

[saipranav]

I filled yesterday morning @ Hosur road @ 70.65, the attendant informed me that it got changed yesterday only...

HYDERABAD IS SOOOOO GODDAMN COSTLY... shell super is 76.9x,...shell normal is 73.xx today
we have the highest tax in the entire country???

[vkuchhal]

Shell Reduced petrol price again. Today's price in Bangalore Rs. 70.65 for regular petrol, While BP is 71.38 for regular petrol...

This is the first time is has happened that Pvt. petrol became cheaper than Govt. petrol...

P.S. After hearing 70.65 for regular petrol as "CHEAPER" petrol some delhi ppl might faint, but they might not be knowing that here in Bangalore we paid up to Rs. 74.95 for regular petrol till a few week back...

Are you sure about that?? Because yesterday only i filled petrol & it was around 71.XX for normal petrol.

I filled yesterday morning @ Hosur road @ 70.65, the attendant informed me that it got changed yesterday only...

I got a tank full from shell today morning at a rate of 71.35..

[saurabh81]

I got a tank full from shell today morning at a rate of 71.35..

Which bunk u got it filled from?
though it does not matters as price should be same across Bangalore...
Good that i retianed the reciept (attached) hope it will help ...
When i filled few weeks back was 71.xx, they have kept these posters indicating price 71.xx @ all the pumps.
Infact this Hosur road Shell bunk still had that poster in front of it, though the price was 70.65

[Sethu]

Petrol is an indispensible commodity for India.. Something more important than Gold and rice.. Goverment should consider reducing the taxes on them to a greater extent and balance them on something else..

With relaxed taxes i guess petrol prices ll go around 50 rupees.

Hope govt should make a move... Stop choking Indians with these irregular and irritating price rises

[saurabh81]

Petrol is an indispensible commodity for India.. Something more important than Gold and rice.. Goverment should consider reducing the taxes on them to a greater extent and balance them on something else..

With relaxed taxes i guess petrol prices ll go around 50 rupees.

Hope govt should make a move... Stop choking Indians with these irregular and irritating price rises

Our infrastructure is not good enough to support the existing vehicle population and certainly not ready for the future inclusions...
Better infrastructure and public transport systems are much required then lower fuel price. The taxes collected from higher fuel price 'if' well spent can be used for it...
Also we import most of the crude we use hence spending precious Forex for it. If consumption is more we need to spend more Forex to buy crude...

[lockhrt999]

Shell has reduced prices further by ~3 Rs.
Super is at ~70 and unleaded is at ~67.
Few weeks back shell had reduced prices by 4 or 5 Rs.
Sorry for late bump, I had forgotten to post .

I remember filling super when it was at 78 couple of months back.

PS : there's no change in Diesel pricing.