Petrol price hiked by Rs. 7.50. EDIT - 1st May 2013 : Down by Rs. 3!

[madnish30]

Read tweets plus news flash saying Petrol prices hiked by Rs. 7.50 blaming the Rupee's decline.
This is epic!

Thanks heavens I have a diesel garage.

Source - https://twitter.com/htTweets/status/205278244763746304
https://twitter.com/IBNLiveRealtime/status/205277907441041409

News - http://www.hindustantimes.com/busine...e1-860185.aspx

[Fiest@DuraTec]

I just came in with a thought to report this news. Man this is torture for the Petrolheads.

The heat in Hyderabad doesn't let me give up the 4 wheels and the ever rising petrol prices do not let me continue. Guess who's hotter

[ironshark]

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!

[madnish30]

Originally Posted by ironshark

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!

Completely agree - just got rid of my petrol guzzler Camry - happy to have a all Diesel garage now.

[scopriobharath]

Originally Posted by madnish30

Read tweets plus news flash saying Petrol prices hiked by Rs. 7.50 blaming the Rupee's decline.
This is epic!

Thanks heavens I have a diesel garage.

Source - https://twitter.com/htTweets/status/205278244763746304
https://twitter.com/IBNLiveRealtime/status/205277907441041409

News - http://www.hindustantimes.com/busine...e1-860185.aspx

These gentlemen must commit that if rupee rises to 46/47, the hike would rolled back

[madnish30]

Originally Posted by scopriobharath

These gentlemen must commit that if rupee rises to 46/47, the hike would rolled back

That is next to impossible! Your only hope is Mamta Banerjee

[driving_smartly]

Petrol price in Navi Mumbai is Rs 69.93 /- per litre as on today, now increased price of Rs 7.50 per litre would add more woes for petrol heads like me .

Have planned a short trip of around 600 kms coming in next week, will try to full Tank my Santro today it self or pay additional Rs 7.50 per litre if not possible today. Time to shift to diesel in near future if the price keeps increasing insanely. When i bought Santro petrol price was Rs 43.xx per litre, at Rs 77.43 per litre the price has almost gone up by whooping 80 % aprrox.

[Fiest@DuraTec]

Mod Note : Please do NOT use more than 2 smilies per post. We advise you to read our rules before proceeding any further.

Originally Posted by driving_smartly

Petrol price in Navi Mumbai is Rs 69.93 /- per litre as on today, now increased price of Rs 7.50 per litre would add more woes for petrol heads like me .

Had a short trip of around 600 kms coming in next week, will try to full Tank my Santro today it self or pay additional Rs 7.50 per litre if not possible today.

Time to shift to diesel in near future if the price keeps increasing insanely

You're crying over 69.93

Here in Hyderabad it was 73.14 already. Now with 7.5 added and the VAT being the highest here...it would cross 80 for sure

Originally Posted by madnish30

Apparently the new Petrol prices - source: Twitter : Delhi - 73.14; Mumbai - 78.16; Chennai - 77.05; Kolkata - 77.53; Bhopal - 77.56; Lucknow -77.32; Patna-75.59

What about Hyderabad ??

Apparently, the price in Delhi after the hike is the same as it was in Hyderabad before the hike. So you know what kinda mess we are in

[headbanger]

Originally Posted by scopriobharath

These gentlemen must commit that if rupee rises to 46/47, the hike would rolled back

"Committ" is not something one can associate with Indian Politics. As far as roll-back is concerned, at max govt. will take Rs2.5 away from this hike and make it a partial roll-back. And the junta would have a sigh of relief that hike was limited to Rs 5 only.

Have 3 petrol cars and there is no way out of this situation. Even if I sell off 1 car, huge depreciation will hit me

Time to be a diesel-head now!!!

[madnish30]

Apparently the new Petrol prices - source: Twitter : Delhi - 73.14; Mumbai - 78.16; Chennai - 77.05; Kolkata - 77.53; Bhopal - 77.56; Lucknow -77.32; Patna-75.59

[svsantosh]

My pulsar220 gives 35Kmpl. Dio gives 35Kmpl!!!

Thank God I got rid of nano.

[basoli]

This is a very steep hike. The prices now should be on par with Shell pumps and I'm sure there would be some crazy queues at all pumps very soon.

[Naturalist]

Originally Posted by madnish30

Apparently the new Petrol prices - source: Twitter : Delhi - 73.14; Mumbai - 78.16; Chennai - 77.05; Kolkata - 77.53; Bhopal - 77.56; Lucknow -77.32; Patna-75.59

Previous price in Bangalore normal petrol - 73.50
New Price - 73.50 + 7.50 = 81.00

[suyr]

I bought a Petrol Automatic hatch, perhaps the worst decision I ever made.

Jayapal Reddy is only talking about the rupee depreciation, he is not seeing the fact that crude is also down by almost similar percentage.

If we compare avg INR/USD in march-April, they were around approx 50-51 Rs to a dollar. now it is 56. around 11-12% increase since march-12.
Avg. Crude price in march was around around $125/barrel, which is now around $107. around 13-14% down. so there is no reasonable justification to the price hike. Govt. is just taking the weaker section of the society (tax paying, law abiding middle class) for a ride.

[pratheekkunder]

This was expected. Oil Marketing Companies are anyways loosing a lot of money because of subsidized fuel. Plus Govt wasnt compensating them for this. They were compensating them by issuing fresh bonds. But the problem now is the Banks have so much bonds with them, they have informed the RBI that, they wont be accepting any more bonds from these companies.

Well, there is a good news as well. After Goa, Gujarat,West Bengal and Kerala will be cutting state tax to ease peoples frustration. Kerala will be the first one to do it followed by Gujarat and then West Bengal. West Bengal, would be doing this in phases, whereas others would do it in one go. The person who told me this is Economics professor in my B-School who also happens to be an economists and Govt Advisor.