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Old 23rd May 2012, 22:39   #121
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Conspiracy by Hillary (recent visit) - 'SOME'how reduce oil imports/depencency on Iran! Dont care if you increase the price and stop Indians from buying more oil.

UPA - Ok madam, we know how to take care of it!!
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Old 23rd May 2012, 22:46   #122
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by bluevolt View Post
At some petrol pumps near my house there are queues over 300-500 meters for getting the petrol at old price!

7.50 Rupee hike is too much! I really don't understand the economics behind the rise but this is really a suicidal step by Government.

On a lighter note it doesn't matter if petrol price rises by 1 rupee or 10 rupees, I always fill worth 1000 Rupees only.
Just returned after topping up at the IBP Filling Station in Gopinath Market, Delhi. The Station is making money by shelling out only "Extra Premium" . "Normal Khatm ho gaya" says the attendant with an all knowing smile.: There are serpentine queues half a mile long at each filling station.
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Old 23rd May 2012, 22:46   #123
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Any update on the Diesel price hike? I am hearing reports that Cabinet is meeting this Friday to discuss on hiking the prices of Diesel by Rs. 5.

Source - http://ibnlive.in.com/news/is-diesel.../260687-3.html

Last edited by rameshnanda : 23rd May 2012 at 22:50.
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Old 23rd May 2012, 22:47   #124
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

A lot of this has got to do with lack of political leadership and lack of far sighted foreign policy and little with economics. Iranian oil is off the dollar market, so we had chosen to trade in gold the 55 Rs - 1$ would be out of the picture. India has bowed to US pressure and cut upto 20% from Iranian imports. Our input pipe line for crude is already very volatile (remember, India is one of the few countries which is not a big player in Oil futures). We do not have a clear stand viz. Iran and hence for reasons in which the common Indian citizen is not affected (like the Iranian Nuclear policy), due to a lack of a clear (read: India friendly) orientation (read: how should I deal with others to keep my people happy), we have to suffer due to all these geo-political situations. The falling Rupee is a factor, true, but more so is due to fact that (unlike China) we do not have a clear charted out, managed, negotiated Crude supply purchasing system. Our buying is very adHoc, leading to these swings.

We need a clear energy policy that aligns with a long term economic plan.

We are actually driving blind, so expect more stupidity from the govt, what ever is the political compulsion, citizens should come first!

I do not see this rise holding for long, at least a 2 Rs roll back is in my view already hidden, or am I being too optimistic?
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Old 23rd May 2012, 22:50   #125
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Just today I was reading about Madam asking the government to pull the socks and perform as the time is running out. But I did not anticipate this is what she meant (pun intended)
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Old 23rd May 2012, 22:54   #126
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by man_and_machine View Post
We need a clear energy policy that aligns with a long term economic plan.
+100. But whose gonna bell the cat? That is the problem.

As you said, may be they drop the price by a re or 2. To claim that they provided "relief" to the common man.
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Old 23rd May 2012, 22:55   #127
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Didnt know that petrol prices have gone up. After Varthur, saw a big line of cars at the petrol station. Thought maybe there is a hike. Glanced at the cars standing in line, i10, Matiz....
OK, so no diesel hike and kept driving...

I really hope diesel prices would be hiked. But then yesterday when I bought beans, the guy said it has come down, its Rs 60 per kg. What the heck is happening to this country..
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Old 23rd May 2012, 22:56   #128
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Apart from jokes, this is going to effect most of Indian citizens very badly. The worst effect would be on Salaried class which has no option but to pay Direct Tax and Indirect Taxes.

Consider this : Petrol Prices in my city are likely to be around Rs. 77/ltr.
My bike gives FE of 40.
77/40 = 1.9 Rs./km

CNG Waggie : Cost of CNG = Rs. 46/kg.
FE ( City ): 20
46/20 = 2.3 Rs./km ( city )
Highway trips : FE = 24-26
46/26 = 1.7 Rs./km.

CNG waggie makes good sense now.
The way GOI is moving forward, they are moving towards massive inflation. This inflation coupled with Stagnant economy would hit us like anything, some of the worst days for Indian economy since 1991.

Why cant this government think ? Ranging from super high salaries and perks given to govt. Oil firms to higher taxes, all are hitting the citizens very very hard. Oil firms need to operate more efficiently and perks have to be reduced.
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Old 23rd May 2012, 22:58   #129
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

This was the car standing before me queuing for petrol-the 2.0 petrol innova. the windscreen says that is belongs to some "mo clean" company. I thought they forgot to also add "cleans and sweeps your wallet too". (quoted by a friend of mine.)
Attached Thumbnails
Petrol Price Hike. EDIT - 15th July 2013 -- Hiked by Rs. 1.55/--dsc_0002.jpg  

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Old 23rd May 2012, 23:04   #130
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in these cars catching fire scenarios , soon we won't know whether to save the burning car or the petrol in the tank !!
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Old 23rd May 2012, 23:06   #131
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Just finished the ritual of getting one of my petrol cars filled full tank at old price. After reaching home took the other car so as to fill that up as well but there were long queues everywhere and pumps started closing so had to come back.

Saved about Rs 300, we middle class mortals can only take happiness from such small accomplishments.

Wish Pranab Da retires or the Cong govt falls and takes its Economic advisers down along with it. Worried that there is a talk about making him run for presidency.
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Old 23rd May 2012, 23:07   #132
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Petrol price hike = hike in crude oil price + tax + hike in diesel's price.

This is very unfair. But I don't think this is going to kill the petrol car segment. The sales numbers will definitely come down by some margin (and that will continue as more diesel cars enter the market) but this is not going to be the end.

Reasons?

1)At this price the average petrol car buyer will have to spend Rs.750 extra for every say 1800-1900 or even 2000 kilometers. And I find it difficult consider guys who drive 40-50-60km daily (and that too alone) in cars to go to office as 'common men'. I honestly can't. Ya the price hike will definitely affect such people. In places where public transport system is very efficient and comfortable, the common man is seen using it more often. The problem I see in a forum like this is that many of the people who consider themselves as 'common man' here aren't actually common men. Here, guys who are not very rich are considered 'common men'. And that's definitely wrong.

I'm not saying that this wont affect the common people. It will definitely affect them but it's not as serious as some people say. If he drives 20km/day, his monthly(30 days') fuel bill will increase by Rs.282 only (and by Rs.422 even if he drives 30km/day). This is based on the assumption that the car returns an average of 16kmpl.

2)Guys here talk about Pulsar 220s, R15s, KTM Dukes etc. The average commuter bike of the common man will return around 60km/litre. ie. 6000km/100litres. So they will have to spend Rs.750 more every 6000km or Rs.125/1000km or Rs.12.5/100km. The running cost has just increased from Rs1.16/km to Rs.1.29/km. To be honest, if you cant afford that kinda hike, you should be using public transport more or should look for a better job.

And you can't blame the big brands like BMW, Merc, Audi etc and their owners for moving to diesel because even with their very efficient diesel engines, they are often unable to get a mileage of more than 12-14kmpl.

A hike in diesel's price is inevitable and it's going to happen very soon. And you should compare a fuel's price with the user's income. Not with some other fuel. If petrol price reaches 150 and diesel price reaches 125, it will be unaffordable for both parties. It's good for comparison but in real life, the hike in petrol's price will eventually lead to a hike in diesel's price. So it's not a good thing for diesel owners either.

This definitely is a bang on the head for all of us. I hope that the prices will come down soon.

Last edited by fast&furious : 23rd May 2012 at 23:14.
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Old 23rd May 2012, 23:13   #133
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by ironshark View Post
believe me, considering the steep petrol hike in the last year or so, buying a diesel is proving to be the best decision of my life so far!
Same here! Just drove back from Kerala with 4 adults and luggage for Rs. 2000. Just made sure I tanked up in Hosur just before turning in. During the GQ stretch from Thirunelveli to Salem, all franchisee owned pumps had stopped dispensing for the day, by the time it was 3:00 pm.

I am so happy that I picked up the Cruze. One more reason to the long list, to cheer!

BH.
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Old 23rd May 2012, 23:27   #134
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by fast&furious View Post
I'm not saying that this wont affect the common people. It will definitely affect them but it's not as serious as some people say. If he drives 20km/day, his monthly(30 days') fuel bill will increase by Rs.282 only (and by Rs.422 even if he drives 30km/day). This is based on the assumption that the car returns an average of 16kmpl.
Hello,

You have made good point by calculating the effective hike per kilometer, which seems to be marginal.

But the point here is how long will the Petrol Buyers subsidize for Diesel Loss? Middle class is the largest consumer of Petrol & also salaried class is highest payer of taxes. Now this money goes to subsidize Diesel, which is largely consumed by Poor & Rich classes.

Also when it comes to Diesel Price hike, to me it seems no political party will dare to speak about this before 2014 elections.

Thanks,
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Old 23rd May 2012, 23:29   #135
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Not surprised by the hike or the amount. Shell Petrol has been around 81.50 a litre for a long time in Bangalore now. Shell prices are kind of a guideline of what the deregulated price should be.

No hike in diesel prices - for how long?
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