Petrol prices update thread

[Satyamzma]

Brent Crude Oil already crossed 123 $ add to this the unstable conditions going on in Gulf countries will result in ever increasing petrol prices....so think before you opt for a gas guzzler vehicle

[Rony]

Govt mulling Rs 3/litre diesel rate hike after assembly polls

PTI | May 4, 2011, 01.02pm IST

NEW DELHI: The government plans to hike diesel prices by up to Rs 3 a litre soon after the assembly elections in five states are over next week, while an equivalent steep increase in petrol rates is also on card.

"An Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee is scheduled to meet on May 11 to mull on a hike in diesel prices," a top government official, refusing to be named, told reporters.

A Rs 3-4 a litre hike in the price of petrol, which had been freed from government control last June, is also on the cards immediately after polling in the last phase of Assembly elections is completed on May 10.

"Petroleum Ministry officials yesterday discussed with the Election Commission the issue of raising prices before Assembly election results are announced on May 13. The Election Commission is believed to have cleared the move," he said.

Officially on the EGoM's agenda is ways of mitigating the over Rs 180,000 crore revenue loss state-owned oil firms have projected in 2011-12 on selling diesel, domestic LPG and kerosene at current rates.

An increase in domestic LPG prices may also be discussed at the EGoM meeting that will decide on how the oil firms will be compensated for their losses, he said.

State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 16.17 a litre on diesel and after adding local sales tax or VAT, the desired increase to make rates at par with international prices is Rs 18.19 a litre.

The companies have not even raised price of petrol, a commodity which was freed from government control in June last year, in view of Assembly elections in five states like West Bengal and Kerala.

The hike need to take petrol prices to international parity is about Rs 8.50 per litre, but the entire burden will not be passed on to consumers in one go. "Oil companies will be asked to stagger the hike over a couple of months," the official said.

Besides petrol and diesel, the three state oil firms lose Rs 29.69 a litre on kerosene and Rs 329.73 per 14.2 kg domestic LPG cylinder.

Source : Govt mulling Rs 3/litre diesel rate hike after assembly polls - The Times of India

[Satyamzma]

so only about a week left ..... Rs.4 will be hiked in Petrol

[kantu]

so only about a week left ..... Rs.4 will be hiked in Petrol

Already hiked in Shell in bangalore from this monday

[madhav krishna]

Already hiked in Shell in bangalore from this monday

It was already hiked previous month to Rs.72

[kantu]

It was already hiked previous month to Rs.72

yeah now its around ~74.9

[Satyamzma]

yeah now its around ~74.9

i am quite lucky as am still buying at Rs 61.xx

[kantu]

i am quite lucky as am still buying at Rs 61.xx

always south indians pay large amount as taxes ,you name the commodity we pay more and the most irritating part is even if crude oil prices goes down they wont reduce the prices it will always be going up Before sachin hits his 100th petrol will hit 100 !!!

[sooraj_vs]

i am quite lucky as am still buying at Rs 61.xx

Add me to the list..
Time to do a full tank..

[Satyamzma]

its time to purchase Cb Twister

[JASMINE RIDER]

its time to purchase Cb Twister

better will be a cycle than a twister...

[Janesh.J]

Petrol Prices across the World

Country	$ per Gal. 2008	`/ ltr	$ per Gal. 2009	`/ ltr	$ per Gal. 2010	`/ ltr	$ per Gal. 2011	`/ ltr	% Deviation from India, 2011
Saudi Arabia	0.61	5.71	--	--	--	--	0.85	8.53	-84%
UAE	1.7	15.95	1.81	18.61	--	--	1.82	18.14	-66%
Malaysia	2.31	25.49	--	--	2.04	20.99	2.42	23.56	-55%
Iran	--	--	--	--	2.48	25.49	2.58	25.53	-51%
Pakistan	3.23	30.54	--	--	3.03	31.43	3.62	35.75	-32%
USA	1.69	17.57	2.4	25.59	2.55	26.25	3.7	36.58	-30%
China	--	--	--	--	--	--	3.77	37.31	-29%
South Africa	4.58	44.08	5	52.58	--	--	3.97	39.58	-25%
SriLanka	5.73	54.12	--	--	4	40.6	4	39.63	-25%
Nairobi, Kenya	--	--	--	--	--	--	4.54	45.55	-13%
India	4.88	50.65	4.59	48.24	4.92	52.53	5.27	52.61	--
Bulgaria	--	--	5.34	54.79	--	--	5.71	57.29	9%
New Zealand	3.03	32.28	3.04	34.16	5.87	58.91	5.77	57.36	9%
Poland	8.15	77.35	--	--	5.38	54.97	6.27	62.48	19%
Spain	4.73	50.07	6.02	63.14	--	--	6.48	64.58	23%
Switzerland	7.56	66.44	--	--	4.58	46.72	6.58	65.57	25%
Czech Republic	4.46	39.21	--	--	5.87	59.98	7.1	70.76	35%
Germany	8.19	79.61	--	--	6.51	67.07	7.4	73.75	40%
France	--	--	6.89	70.69	--	--	7.51	74.84	42%
Italy	9.19	86.27	--	--	7.19	71.53	7.56	75.34	43%
Sweden	8.13	76.29	--	--	6.4	65.39	7.61	75.84	44%
Finland	8	77.74	6.81	69.87	--	--	7.76	77.33	47%
Denmark	9.27	86.46	--	--	7	71.52	7.82	77.93	48%
UK	8.81	83.03	4.85	51.45	7.38	72.78	8.54	85.02	62%
Norway	--	--	--	--	--	--	9	90.3	72%
Turkey	--	--	--	--	9.58	95.03	10.19	101.06	92%
Vietnam	--	--	--	--	3.14	31.89
Thailand	--	--	--	--	3.52	36.44
Canada	2.62	26.59	--	--	3.69	35.99
Australia	2.54	27.06	--	--	4.32	43.84
Singapore	6.96	65.75	--	--	4.92	49.97
Brazil	--	--		--	5.79	57.61
Qatar	0.96	8.31	--	--	--	--
Bahrain	1.02	9.57	--	--	--	--
South Korea	3.69	39.25	5.49	58.54	--	--
Lebanon	3.9	36.82	--	--	--	--
Japan	4.5	39.65	5.19	53.62	--	--
Kathmandu, Nepal	4.85	42.2	--	--	--	--
Holland	8.85	85.96	--	--	--	--
Egypt	--	--	1.35	14.2	--	--
Zimbabwe	--	--	4.54	46.38	--	--

Source: Comparison of Global Petrol Prices across the world with India

[xxbomb]

anyones knows where i can buy a tanker of fuel? :P..

[Rajesh Mudaliar]

anyones knows where i can buy a tanker of fuel? :P..

Come lets get a tanker in Fast and Furious style

[phanikar]

Come lets get a tanker in Fast and Furious style

Count me in thats the last resort we have got if the prices are going up at this rate