Rediff reports Cabinet mulling Rs.5/lt hike

[ajmat]

I somehow think it is the analysts and the press whipping things up out of proportion.

Petrol is already heavily taxed and diesel is heavily subsidised. they should raise the price of diesel.

[mjothi]

Originally Posted by ajmat

I somehow think it is the analysts and the press whipping things up out of proportion.

Petrol is already heavily taxed and diesel is heavily subsidised. they should raise the price of diesel.

Agreed. They should raise Diesel (Which is almost next to impossible). They raised LPG, huge cue.. then it settled. Same will follow.

OT: Should we start accumulating the cycle company stocks . names please...

[CaliforniaKnight]

just now the flash news report that Petrol to be hiked to by 10 rs and diesel by 5rs.

[asr245]

Originally Posted by LandCruiser

This will all translate to less car sales meaning dent in the plans for new models. What is going to happen when the cost for the crude touches $200. God knows! I couldn't stop thinking of the Genius who put my new office building 50kms away from the city. Sigh...!

Ha ha ha!

Maybe it's time to seriously consider a bicycle. Anyone know if TREK bikes are available in and around Delhi? Maybe they should have a small motor fitted to power it for longer distances (more than 7-8kms). I dont think IT has made us fitter!

[hvkumar]

Too little, too late.

I don't mind paying Rs 10 more per litre to save this country from an economic disaster that is just around the corner. Hope the electtions come fast so that this Govt can be voted out of power.

[karanraheja]

Originally Posted by hvkumar

Too little, too late.

I don't mind paying Rs 10 more per litre to save this country from an economic disaster that is just around the corner. Hope the electtions come fast so that this Govt can be voted out of power.

. This Govt. is taking us for a ride. How da hell can AAM JANATA spend 60 bucks on petrol?? This is ridiculous. Im waiting for the Left to kick Deora.

[hvkumar]

Originally Posted by karanraheja

. This Govt. is taking us for a ride. How da hell can AAM JANATA spend 60 bucks on petrol?? This is ridiculous. Im waiting for the Left to kick Deora.

AAM Janata is not only earning lots of money but also spending more money on AAMs. If global oil prices rise, we all pay - and Govt helps by cutting taxes, duties and octrois. Communism is dead, we pay as we earn.....and don't expend on petrol/ diesel if you can't afford.

[simplythebest]

Originally Posted by GenuineOptimist

Diesel consumption is growing at 25% p.a and Petrol consumption at 12% in India. I think these growth rates are the highest in the world.

Absolute quantity of consumption is a different story, but I will think that fuel consumption in US/UK are already on the decline and India will continue gulping more and more for years to come.

They are estimating that aroung half of the increase in diesel consumption is because of the power shortage in the country. As load shedding/trippings increase, all industries are running their gensets.

We better get this nuclear deal done soon, or we are in for big trouble.

Anyways the slow pace of our projects will ensure that it is atleast 5-10 years before any nuclear power planbt will be operational after the deal...

[SumitBahl]

Just read an updated news on rediff.com

Petroleum ministry wants Rs 10 per litre hike in petrol price

Originally Posted by rediff.com

The petroleum ministry has sought a Rs 10 per litre increase in petrol and Rs 5 a litre hike in diesel prices, along with a cut in customs and excise duties, to offset the impact of surge in crude oil prices that have touched $135 per barrel.
"The situation is getting to be alarming. We need to stem the rot at the beginning," petroleum secretary M S Srinivasan told reporters after a stock-taking meeting with the heads of public sector oil companies.

Source: Ministry wants Rs 10 per litre hike in petrol

[asr245]

Originally Posted by hvkumar

Too little, too late.

I don't mind paying Rs 10 more per litre to save this country from an economic disaster that is just around the corner. Hope the electtions come fast so that this Govt can be voted out of power.

I partly agree! Coz more than Cong government, I want Leftists to get a kick in the back. I feel they are the ones who will be responsible for this debacle. A child will never learn to walk if he/she is always carried around!

[snaronikar]

What is this govt thinking of themselves? The so called bunch of GoMs. What about the slogan "Congress ke Haath, Aam admi ke saath". Think they have forgotten the meaning of this. The people who voted for them are feeling betrayed now. Hope this govt will not come to power next time.

[finneyp]

Guys, why are we blaming the Govt when the international crude oil prices are rising skywards?
I thought most of us here are well educated!

However, Govt (both Central & State) needs to do its bit by reducing the tax, excise on Oils, which is is quite high in states like Karnataka etc.

[Jyodi Backster]

Already started car pooling.....
In Pune, they are doing cycle tracks,
but cycling to office seems rather inconvenient.

[lohithrao]

Petroleum ministry seeks hike in petrol prices
23 May 2008, 1035 hrs IST , PTI
Petroleum ministry is seeking a Rs 10 per litre increase in petrol and Rs 5 a litre hike in diesel prices along with cut in customs and excise duties.


Am already thinking of buying a cycle this is definitely a real bad news for all. esp to all those who love to drive/ride:(

[SumitB]

The spokesman making this statement is surely on drugs! 5 rs. hike for diesel in an election year. The policy makers will not be allowed to do so even if they were fantasising about it