Petrol prices update thread

[krishna77]

Re: Petrol prices update thread

Did a tankful @ 66.73/ltr(HP - Bangur Avenue).

[Anuj_Gupta]

Re: Petrol prices update thread

Never thought I will be alive to see petrol in 5x.xx line.
Wow ,,!!

[Nithesh]

Re: Petrol prices update thread

Well, this government seems desperate to meet budget deficit target as they keep hiking the excise duty like that.

If that was their real intention, they would\\\\\\\'ve done the same to Aviation fuel and make even more money.
But surprise surprise, higher octane aviation fuel costs less than lower octane pump gas, litre to litre.
They like to buy jets and fly high when we have to dodge potholes everyday.
Petrol costs more than ATF in India! - The Economic Times

[jayanth_b_p]

Re: Petrol prices update thread

Petrol Price Cut by Rs. 2.42/Litre, Diesel by Rs. 2.25

The price of petrol was today cut by Rs. 2.42 per litre while that of diesel was reduced by Rs. 2.25 on the back of a decline in global oil prices. This is the tenth cut in the price of petrol since August last year, and the sixth in diesel since its deregulation in October.

Source:
http://Petrol Price Cut by Rs. 2.42/...el by Rs. 2.25

[krishna77]

Re: Petrol prices update thread

Didn't see it coming. Yesterday filled 9 liters @ Rs. 66.67/liter.

[motodreams]

Re: Petrol prices update thread

Didn't see it coming. Yesterday filled 9 liters @ Rs. 66.67/liter.

Delhi elections! No wonder!

[krishna77]

Re: Petrol prices update thread

But I doubt this cut has anything to do with Delhi elections.
AFAIK, this is due to the decrease of crude oil in international markets. It's consistantly going down for the last few months.

[abhi7013]

Re: Petrol prices update thread

But I doubt this cut has anything to do with Delhi elections.
AFAIK, this is due to the decrease of crude oil in international markets. It's consistantly going down for the last few months.

Always when the global oil prices used to decrease, they used to cut the supply and hence the price would rise and there would be a balance. But what's going on now is, they have kept the supply same and have not decreased the supply even though the global oil prices decreased. As a result, we see such huge decrease per barrel.
Forgive me, for the name of the body responsible for determination of supply and hence the price of oil in the global level escapes me rite now..
Also did you guys know that PM of Pakistan had to cancel his flight due to shortage of fuel?! It's economy is spiralling downward due to it. 80% bunks are shut in the country.

Sent from my C5502 using xBhp Connect mobile app

[Anuj_Gupta]

Re: Petrol prices update thread

OPEC- organisation of petrol exporting countries hold 40% market production and share ,so their actions largely determine petrol prices .
After that Russia also affects prices .
Sometimes when a economy goes boom or recession comes ,it may also affect prices but for a short term .
Thing is ,us is now on shale gas whose production is very cheap therefore it is cheaper than petrol ,aka usa me shale sales are topping the charts.
So opec countries deliberately not decreasing production so that ultimately petrol becomes cheaper or at par to shale gas(It's production is much costlier than extraction of crude oil ,but it survived as petrol rates were very high during its inception, now they're not ) . Its just that uae wants to break the shale industry grooming in usa, which in long run ,can hurt opec real bad .so it's like short term loss for long term gain.
Russia is getting fcked up by this turmoil. As already usa economic sanctions (due to Crimea accession and ssecession into itself) are making it sweat, reduced oil prices are the icing on top of all problems.
Meanwhile our fiscal deficit is getting much lower (although it crossed the max ser target already, now kept at 4.1% of gdp) India is a fool for not using this right time to develop strategic oil reserves in our country.
Lets see how world rotates after 2 months ..

[Anuj_Gupta]

Re: Petrol prices update thread

Those who allegedly talk about alteration in petrol prices during elections ,should know that petrol and diesel and de regulated now and so govt holds no direct hand (though indirectly...)

[s1d]

Re: Petrol prices update thread

Those who allegedly talk about alteration in petrol prices during elections ,should know that petrol and diesel and de regulated now and so govt holds no direct hand (though indirectly...)

And we also believe Manmohan singh was de-regulated during his tenure as PM
Btw in Telangana, the govt has again raised the VAT on fuel the second time in 20 days, hence nullifying the recent two reductions.

[Naveen1985]

Re: Petrol prices update thread

Ideally petrol price should be around 40-45 Rs/- but Mr Modi wants to earn more and more money for his party and ministers.

[Pritesh Patel]

Re: Petrol prices update thread

Ideally petrol price should be around 40-45 Rs/- but Mr Modi wants to earn more and more money for his party and ministers.

Bro but stil its better than before , the price is reducing ...

[theironhorse99]

Re: Petrol prices update thread

Ideally petrol price should be around 40-45 Rs/- but Mr Modi wants to earn more and more money for his party and ministers.

not supporting modi here but then you should ideally check fuel pricing in other countries even Europe and trust me you will return back pretty happy.

[AkshayA]

Re: Petrol prices update thread

Attaching petrol prices to Political parties/ Politics is just like ignorant Mr. Amit Shah saying "Modi reduced oil prices" and an educated person who understands basics of internation economy is like WtF?