Petrol prices update thread

[docted]

current crude oil is trading at bout 89/90 $

so shouldn`t there be a price correction considering the changes were to reflect 115$ range ???


cheers ! (sigh)

[jigar2speed]

current crude oil is trading at bout 89/90 $

so shouldn`t there be a price correction considering the changes were to reflect 115$ range ???


cheers ! (sigh)

Exactly, i don't know who restarted the thread, but i am sure the OP has zero idea how the market functions.

Also to add some point, the dependance of USA on crude oil should start to decline from next year as they are aggressively trying to increase the efficiency of EV & hybrid cars, so that they can completely shift civilian to EV & hybrid. This would further decrease the price of crude oil, because of less demand.

[sinnerz2000]

whats the name of that bike?

[Nithesh]

Ready to shift to fourthcoming Honda 100cc bike from my ZMA

Honda ya Hero Moto?

whats the name of that bike?

Chuk Chuk 100
Seriously nobody has a clue.
And please people stop bumping this topic unless there is actual price changes
Everytime i see this thread active i almost have a heart attack because then it wont be far when i will have to start evaluating my expenses with petrol @ 200/ltr

[Rony]

Petrol prices may go up by Rs 3 a litre as rupee weakens

PTI | Sep 14, 2011, 07.27PM IST

NEW DELHI: State-owned oil firms may have to raise petrol prices by as much as Rs 3 per litre as the rupee touched two-year low against the US dollar, increasing the cost of importing crude oil. "Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said. IOC, BPCL and HPCL have lost Rs 2,450 crore this fiscal on selling petrol -- whose rates were freed from government control in June last year -- below the cost. "At current rate, oil firms will accrue another Rs 2,850 crore of loss on sale of petrol, taking the total loss on a fuel that was freed from control, to Rs 5,300 crore for the full fiscal," the official said, adding, "Oil firms will have to take a call on raising petrol price soon."

Besides petrol, the three firms are losing Rs 263 crore per day on selling diesel, domestic LPG and kerosene below cost. Diesel is being sold at a subsidy of Rs 6.05 a litre, kerosene at Rs 23.25 per litre while domestic LPG rates are under-priced by Rs 267 per 14.2-kg cylinder. "The industry lost around Rs 65,000 crore in the first half of the current fiscal on the three products and for the full year the revenue loss is estimated at Rs 121,571 crore at the price of Indian basket at $110 per barrel," said the official. Rupee fell to 48 per dollar today for the first time since September 2009. "Every rupee depreciation, the under- recovery (revenue loss) increases annually by around Rs 9,000 crore," he said, underscoring the need for action on the price front on all the three products.

Source : Petrol prices may go up by Rs 3 a litre as rupee weakens - The Times of India

[rharish90]

Some how they find a way to raise prices! Bravo!

[guywithUnicorn]

This is disgusting....
I can see soon we will be paying 100 bucks for liter

[Mzee_Maverik]

pathetic
congress haye haye

[shirish]

Holy s**t...not again

[rharish90]

Lets hope diesel bikes or CNG bikes are out soon with nation wide availability of CNG

[Satyamzma]

State-owned oil firms may have to raise petrol prices by as much as Rs 3 per litre after a scheduled review in Mumbai on Thursday, as the rupee touched two-year low against the US dollar, increasing the cost of importing crude oil.

"Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said.

[abhichotu.abhi]

It was quite sometime ago I posted on this thread that soon Petrol prices are likely going to hike upto 75 Rs for a liter. Heck this government! Heck those bloody politicians, why don't they just do us a favour by leaving their seats.

[Krish1417]

Petrol prices likely to go up by Rs.3 today

[Janesh.J]

Petrol Prices rise again

God knows whats going on.. Prices rise when american economy is strong, prices rise even when america in almost bankrupt, prices rise when barrel prices go up, prices rise even when barrel prices are low.

Govt (Cong or BJP) all are minting money and public is suffering.

[Janesh.J]

it was quite sometime ago i posted on this thread that soon petrol prices are likely going to hike upto 75 rs for a liter. Heck this government! Heck those bloody politicians, why don't they just do us a favour by leaving their seats.

+10000000 :d