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Old 14th May 2011, 20:01   #1831
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Default Re: Fuel Price Thread

Guys, I was just looking at a fuel price chart in Wikipedia (http://upload.wikimedia.org/wikipedi...rice_96_09.svg). The highest ever crude oil price was 140 odd $ in 2008 and back then the price of petrol was around Rs 50 per liter. But now, the crude oil prices are hovering around the 110 $ per barrel mark but the prices are already around Rs.62 (now going to be around Rs/65). Even though petrol has been deregulated, why such a difference?

And I have never seen the Oil Companies or the Government reducing the fuel prices when the global price goes down, except once or twice in the last decade. And I even heard comments from some people in the TV and a few other websites (do not remember where) that increasing the prices is good so that usage of these fuels will come down which should help reduce the pollution!!

If that is what they are thinking, I would say that is totally senseless. It would be better if the government pushes the Car manufacturers to develop better technologies and eco-friendly vehicles and reduces taxes for such vehicles. I seriously cannot imagine the figures in an year or two!
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Old 14th May 2011, 20:02   #1832
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Default Re: Official tracker of Price hike's & cut's in petrol & diesel in India

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Originally Posted by download2live View Post
Diesel cars are so much going to be in demand.
Why not? With today's petrol hike, the difference between petrol and diesel will be Rs 25 per litre over here in Goa. May be, car manufacturers should seriously consider abandoning petrol engines and switching over to diesel options. And Ratan Tata will be licking his lips at the prospects of the Nano diesel, which is set to arrive in the near future.

Last edited by misquitas : 14th May 2011 at 20:12.
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Old 14th May 2011, 20:06   #1833
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Default Re: Official tracker of Price hike's & cut's in petrol & diesel in India

Stolen petrol going at Rs 25/- a litre says NDTV

Me thinks the long awaited purchase of the petrol sedan (due to clocking of 1000-1200 kms a month) has to revised to a diesel
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Old 14th May 2011, 20:11   #1834
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Default Re: Fuel Price Thread

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Originally Posted by freakmuzik View Post
Guys, I was just looking at a fuel price chart in Wikipedia (http://upload.wikimedia.org/wikipedi...rice_96_09.svg). The highest ever crude oil price was 140 odd $ in 2008 and back then the price of petrol was around Rs 50 per liter. But now, the crude oil prices are hovering around the 110 $ per barrel mark but the prices are already around Rs.62 (now going to be around Rs/65). Even though petrol has been deregulated, why such a difference?

And I have never seen the Oil Companies or the Government reducing the fuel prices when the global price goes down, except once or twice in the last decade. And I even heard comments from some people in the TV and a few other websites (do not remember where) that increasing the prices is good so that usage of these fuels will come down which should help reduce the pollution!!

If that is what they are thinking, I would say that is totally senseless. It would be better if the government pushes the Car manufacturers to develop better technologies and eco-friendly vehicles and reduces taxes for such vehicles. I seriously cannot imagine the figures in an year or two!
First of all the oil companies do not pay spot prices - they buy most of their crude from long pre-agreed contracts, so spikes in fuel prices do not effect them as much. When the spot price was $140, the price paid by these guys may have been lower.

second even after the present price hike the PSU oil marketing companies (OMCs) will be making losses. When crude was $140/barrel, they were making huge losses.

Usually when the crude prices fall to levels where they can make profits - they make up their past losses and hence do not reduce prices immediately. If in the meantime crude rises again, they can obviously not reduce prices.
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Old 14th May 2011, 20:19   #1835
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finally, it has happened. Petrol price to go up by Rs 5 tonight..
Thanks mate. This is the last thread I checked before leaving office and guess what: Tank full on my way home...burrrp!!

But overall its sad news. 5rs is going to pinch real hard.
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Old 14th May 2011, 20:29   #1836
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Default Re: Fuel Price Thread

Ok guys its here....
Petrol price to go up by Rs 5 per litre from midnight - The Times of India
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Old 14th May 2011, 20:55   #1837
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time to shelve our cars.. Even two wheelers would feel the pinch.. especially the lower income groups. PTI has hinted that another hike is on the cards..
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Old 14th May 2011, 21:04   #1838
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Default Re: Official tracker of Price hike's & cut's in petrol & diesel in India

The low income groups who can barely afford 2 wheelers are going to feel the pinch more!! I guess time for us to ditch our petrol vehicles and move on to public transport whenever possible..

On an unrelated note, I am in middle of a trip and i thankfully filled up my tank today.. Was considering to do it tomorrow!
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Old 14th May 2011, 21:11   #1839
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Default Re: Fuel Price Thread

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Originally Posted by freakmuzik View Post
. And I even heard comments from some people in the TV and a few other websites (do not remember where) that increasing the prices is good so that usage of these fuels will come down which should help reduce the pollution!!
If that is the case, then let the petrol be made 100/litre and diesel 50/litre. That way, in addition to the purported reduction in pollution as a result of lower consumption, it also eliminates the problem of change at the cashier at fuel station.

Beware, political parties may dole out a promise of a certain quantity of free petrol/diesel per family in future ( I wonder why nobody made such a promise).

Last edited by simplyself : 14th May 2011 at 21:13.
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Old 14th May 2011, 21:13   #1840
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First of all the oil companies do not pay spot prices - they buy most of their crude from long pre-agreed contracts, so spikes in fuel prices do not effect them as much. When the spot price was $140, the price paid by these guys may have been lower.

second even after the present price hike the PSU oil marketing companies (OMCs) will be making losses. When crude was $140/barrel, they were making huge losses.

Usually when the crude prices fall to levels where they can make profits - they make up their past losses and hence do not reduce prices immediately. If in the meantime crude rises again, they can obviously not reduce prices.
I do not mean to offend you but your justification gives me the impression that you are sympathetic to the oil companies over the constant hikes in petrol. By any chance, are you directly or indirectly connected to these oil companies or do you own a diesel car?

As far as I am concerned, these constant hikes make me livid and no amount of justification will make me feel sorry for the oil companies.
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Old 14th May 2011, 21:17   #1841
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Default Re: Fuel Price Thread

Here in NCR the petrol will now cost 63-64 INR. The hike is very steep, will pinch hard but slowly we will forget and will be waiting for next hike and then 64 INR per liter will seem to be cheaper. In 2008 it was just 40-42 KMPL and now after three years just see the rise.

I know there are reasons as stated by Govt. and Oil companies. This will result in nothing but increase in diesel car sales. Why they are increasing only petrol prices? Why they are not increasing diesel/CNG prices? I guess diesel is also made from the crude oil only.

PS - I am just going to get my Wagonr tank full and have called my dad to refuel ANHC also. This will save us at least around 200-300 INR.

Last edited by bluevolt : 14th May 2011 at 21:20.
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Old 14th May 2011, 21:42   #1842
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Default Re: Official tracker of Price hike's & cut's in petrol & diesel in India

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Wow. Now it will touch around Rs 70 a liter in Bangalore. A nice twisted way of curbing the traffic on Roads. Are we such fools that petrol price hike before or after elections makes a difference. Does this makes people vote this way or that way? And not the long term policies of the leaders? If it is so then we Indians deserve every rupee of this hike.

Diesel cars are so much going to be in demand.
Not if they go ahead with their plans of hiking taxes for diesel cars to even out the disparity.

I'm interested in understanding how these oil companies are still losing money. If anyone comes across a good editorial on this, please post it here. I understand diesel is highly subsidized, mainly for the rural population, along with kerosene and LPG. Why not marginally increase prices for all of them instead of drastically increasing it only for petrol. I mean Rs.70/ltr of petrol here in Bangalore is just insane!!! It won't be too long before we are paying Rs.100/ltr at this rate.

With regards to the proposal to bridge the price disparity between petrol and diesel, I'm in favor of raising taxes for diesel cars. Diesel is mainly subsidized for the rural population, but we in the cities are benefitting from it (me included). We cannot obviously raise diesel prices drastically as it would affect a vast majority of our population who may not have the purchasing power. It would also be difficult to maintain two prices for diesel - for urban and rural, and will not be practical. So I guess, raising taxes for diesel cars, would be the best option to compensate for the loss to the exchequer.
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Old 14th May 2011, 21:58   #1843
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Default Re: Fuel Price Thread

Quote:
Originally Posted by bluevolt View Post
Here in NCR the petrol will now cost 63-64 INR. The hike is very steep, will pinch hard but slowly we will forget and will be waiting for next hike and then 64 INR per liter will seem to be cheaper. In 2008 it was just 40-42 KMPL and now after three years just see the rise.

I know there are reasons as stated by Govt. and Oil companies. This will result in nothing but increase in diesel car sales. Why they are increasing only petrol prices? Why they are not increasing diesel/CNG prices? I guess diesel is also made from the crude oil only.

PS - I am just going to get my Wagonr tank full and have called my dad to refuel ANHC also. This will save us at least around 200-300 INR.
A hike in diesel prices will set off a series of consequences; a very prominent being a rise in an already high inflation. Hence, the Govt. is detesting from a diesel hike.

Well, if you want to fill your cars up, better hurry. As expected, all the pumps are lined up with vehicles. You'd burn more fuel idling than what you'd save by filling before the hike!
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Old 14th May 2011, 22:15   #1844
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Default Re: Fuel Price Thread

Insane, 58% Hike in the Last 2 Years, 23 Rs./Litre.

Diesel Car Manufacturers - A Lottery awaits

Mango People - Public Transport in the scorching heat? or Watch One Movie Less a Month?
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Old 14th May 2011, 22:18   #1845
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Default Re: Official tracker of Price hike's & cut's in petrol & diesel in India

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Here is the link to the Hindu article on the hike.The Hindu : Business News : Petrol price up by Rs. 5

I fail to understand the reasoning behind it when world crude is dropping. .

You are looking at prices gyrating on a short time frame esp the drop which came begining May when GS or some other bankster shop placed a sell call. Look at the secular trend from the period begining 2009 post the Lehman Bros bust.

[] Also most folks here need to understand "peak oil". I posted a link to that here http://www.team-bhp.com/forum/indian...el-cars-4.html (Social activist speaks out against diesel cars) .

[] In addition to the above which is causing and WILL continue to cause upside pressure on fossil fuel prices there is a counter pressure to the downside on fossil fuel prices that we will see emerging as the era of "easy money" which has been prevalent for so long come to an end. How is this relevant to an automobile user? The era of easy money caused returns on Gilts to to touch abysmally low levels. The bankster shops tranformed crude oil into an "asset class". Now you have hedge funds holding vast quanitities of crudes in tankers anchored at offshore locations and huge tanker farms. If and when the tightening on the monetary policy side starts happening and there are restrictions on use of crude as an "asset class" there will be some relief on crude prices . However this can NOT combat the impact of Peak Oil in the longer term.

So we might as well accept rising prices at the gas station as a fait accompli.
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