Petrol prices update thread

[Vikshe]

Primary problem is that there is no uniform tax structure.. every state has different rates for fuel which is what is pissing off!! Goa if i remember correctly is some 11 rupees cheaper than Maharashtra.. Forget Maharashtra even Mumbai has special rates to milk us out.. why so?

Even wine...........

[BLACKRiVAL]

They said we are going to renew petrol fortnightly, now they are saying no we arenot. Crude prices came down to 95USD per barrel but here theres no word on petrol reduction.

[Neel08]

Is it just that a rich man Driving a luxury diesel car enjoys govt. provided subsidies and a lower/middle class fellow is looted for his travels?

+1
Yes....Rich mans drive 30+ lakh worth suv s in government subsidized dissel where house wives/college student/common man drive their 2-wheeler in highly taxable fuel....this is something not right.

Now the question, why they drive ? why not use public transport ? coz it is (specially 2 wheeler) a time machine...you can actually beat/touch the time in any situation/road condition...IMHO.

else we all know how public transport here...in comparing to developed countries.

I'm sure those who drove those luxurious cars don't bother if the dissel price per liter goes up 200-500/- <----for them only, for them it is prestigious situation and feel elegant and rich.

Though it is not possible implement such system.... plenty of loophole there.

[princesirohi]

i heard in news today that petrol prices in delhi will be reduced shortly.

[itsmevini123]

i heard in news today that petrol prices in delhi will be reduced shortly.

WTF..., they reducing petrol prices by 92paisa/ltr only and increasing diesel prices by 37paisa/ltr...gov. is playing with people, our country is running by $#@&^....

[jayanth_b_p]

Prices Reduced by 2 rs @Shell Bangalore.

[GENE]

Prices Reduced by 2 rs @Shell Bangalore.

Yeah, it's now Rs77.70/- @shell, Bangalore

[veryhiphop]

WTF..., they reducing petrol prices by 92paisa/ltr only and increasing diesel prices by 37paisa/ltr...gov. is playing with people, our country is running by $#@&^....

It been reduced by Delhi Govt not by Oil Companies....so don't expect any higher decrease in price...

[Satyamzma]

Today Crude oil prices went down at $89.23 (Brent Crude Oil)

[dhiraj]

Oil comapny top management said they will not reduce the fuel price unless they see some stability in the fuel prices in international market...so forget to see a reduction in petrol prices..

[veryhiphop]

Today Crude oil prices went down at $89.23 (Brent Crude Oil)

but Indian Rupee went to 57 against a Dollar

[Nithesh]

+1
I'm sure those who drove those luxurious cars don't bother if the dissel price per liter goes up 200-500/- <----for them only, for them it is prestigious situation and feel elegant and rich.

Came across a guy in his mid 60's at the Barber's. He kept ranting as to how people react against the govt in those "One day" protests and waste time and how the govt must not lower the price of petrol so that people can use public transport and how govt should let Diesel prices remain untouched to help the needy and blah blah blah.

5 mins later, he walks out the door and i see him drive his Diesel hatch home!

[Satyamzma]

Petrol uss din sasta hoga..
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Jis din woh Made in China hoga...


Good news---
Petrol prices to go down by Rs.4

http://www.hindustantimes.com/business-news/WorldEconomy/Petrol-prices-set-for-a-Rs-4-slash-on-July-1/Article1-879187.aspx

[sibun]

Petrol us din sasta hoga jis di xbhp desh chalayega not this congress sh**.

[shrinathrao]

Soon, petrol prices may change daily


Soon, petrol prices may change daily - The Economic Times

NEW DELHI: Soon, petrol price could move daily just like in the US, Europe and Brazil. The oil ministry is pushing state-run fuel retailers to revise the price every day in tune with international rates and the rupee's value against the greenback.

Top government sources said the idea is being discussed at the top level of the ministry and the brass of fuel retail companies. IndianOil Corporation, the country's largest fuel retailer, has been tasked to draw up a note on the concept.

Admittedly, it is early days. "The idea is very much on the high table. But a formal proposal is yet to be drawn up," a ministry source said in response to TOI's query. Fuel retailers review petrol price on the 15th and last day of each month. The price is decided on the basis of average regional bulk market price of gasoline - trade name for petrol - and the rupee's value against the dollar in the preceding fortnight.


The ministry is pushing the idea of a daily revision with the aim of sidestepping the political flak that it draws every time petrol price is raised.

A daily price revision, as the thinking in the ministry goes, would make it easier to raise the pump price if the situation calls for it. While a reduction has never been an issue, an upward revision always needs a political clearance. Experience shows that such a clearance always has to overcome hurdles ranging from impending polls - even bypolls - to sulking allies.

In the process, the quantum of the required increase in pump price keeps piling up along with the losses of fuel retailers as the ministry delays nod for an increase. A case in point is the May 23 revision, when retailers had to raise petrol price by Rs 7.50 a litre, the steepest-ever hike that came after a gap of months.

A daily price revision would make changes more acceptable to consumers as it would be in small doses. It would also allow retailers to pass on the benefit of lower international prices quickly without the fear of getting stuck in case of a rebound in global rates.

But the retailers are not too enthusiastic at the moment. One, they say a daily revision could be by a few paise only at times and create accounting nightmare. Two, the spread of the market, transportation and connectivity in India - especially the hinterlands and far-flung areas - are not the same as in the US. Perhaps, a weekly revision would probably be a more practical way to start, an executive said.