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Old 1st December 2011, 17:08   #2326
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Quote:
Originally Posted by libranof1987
Someone said, all that goes up must come down. Clearly, that idiot wasn't aware of fuels.

For all of us who were cheering about the recent Rs. 0.80/l reduction, here's the dampener :

Goldman introduces 2013 crude oil price forecasts - The Economic Times

A $130/barrel estimate for crude oil in 2013. I don't want to do the math!
If it predicted by Goldman Sachs, you can be pretty sure that oil will priced anything except $130 Plus or Less 10% a barrel.

Going by their history of succesful predictions, I wouldn't really place any importance to their meaningless predictions. IIRC, when they (or JP fellows?) were busy predicting $200 a barrel, world economy decided to for a free fall, and oil prices fell to $70.
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Old 1st December 2011, 22:43   #2327
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Default Re: The Official Fuel Prices Thread

I was expecting this to happen.
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One of the reasons for the sudden closure is said to be the displeasure among fuel stations at buying petrol at a higher cost from the dealer and selling the same on Thursday at reduced cost.
Petrol is 73.51, bunks close to avoid loss - The Times of India

When they close or ration to get profit in the eve of price rise, why cant they do the reverse too. Hmm, welcome to India.
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Old 1st December 2011, 23:54   #2328
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Default Re: The Official Fuel Prices Thread

I think this oil pricing is very much ridged. First the Congress increases prices by rupees and than with the upcoming elections it starts reducing prices in paisa wooing the common man. The government wants us to see what they want us to see and nothing much. News paper agencies are hand in gloves adding fuel to the fire.
Goldman Sachs predicting crude at $130 is just absurd. These guys don't know when they are going to go bank corrupt and ask their guys in suit come out with some absurd value and everyone will start debating about it foolishly. Nothing more.
Very much off topic view. Couldn't help it the way the system is going.
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Old 2nd December 2011, 14:04   #2329
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Default Re: The Official Fuel Prices Thread

Once the elections are through, am sure we may see a steep hike.
also seems like they are reducing the price in phases so that the common man does not forget it...

so all petrol heads tank and enjoy the petrol guzzlers


Quote:
Originally Posted by el lobo 6061 View Post
I think this oil pricing is very much ridged. First the Congress increases prices by rupees and than with the upcoming elections it starts reducing prices in paisa wooing the common man. The government wants us to see what they want us to see and nothing much. News paper agencies are hand in gloves adding fuel to the fire.
Goldman Sachs predicting crude at $130 is just absurd. These guys don't know when they are going to go bank corrupt and ask their guys in suit come out with some absurd value and everyone will start debating about it foolishly. Nothing more.
Very much off topic view. Couldn't help it the way the system is going.
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Old 2nd December 2011, 18:00   #2330
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Default Re: The Official Fuel Prices Thread

the recent price cut without any international impetus behind it shows that fuel pricing in India is the biggest fraud being perpetrated on the common man in this country. Nepal btw sells petrol for 65rs after buying it from Indian Oil. Clearly the govt is using fuel prices to tide over budget deficit and increasing taxes and prices on petrol whenever they feel that there is a revenue deficit which needs covering up. All the Montek's, IOC guys are lying through their teeth whenever they open their mouth.
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Old 14th December 2011, 16:18   #2331
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Default Re: The Official Fuel Prices Thread

Petrol might go up by 65 paise from Friday. Period.

Edit : Here's the news item : Petrol prices may go up by 65 paise from Friday - The Times of India

Last edited by libranof1987 : 14th December 2011 at 16:41.
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Old 19th December 2011, 12:27   #2332
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Default Re: The Official Fuel Prices Thread

Diesel prices in Mumbai are 45.26 as of yesterday. Can any bangalore / KA member update of the price in Karnataka. I'm driving to KA soon.
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Old 19th December 2011, 15:37   #2333
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Default Re: The Official Fuel Prices Thread

diesel prices in Bangalore is 46.81
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Old 25th December 2011, 18:37   #2334
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Default Merry X'mas and a very Happy New Year

Kerala is set to have (yet) another bandh shortly.

Oh. Well; fuell prices will be .... need I really say it?

Petrol price may be hiked by Rs 1 next month - PTI -

So, enjoy your X'mas and New Year before the reality pinches your pocket.
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Old 30th December 2011, 09:17   #2335
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Default Re: The Official Fuel Prices Thread

Another Price Hike :(

Quote:
NEW DELHI: State-run oil firms plan to raise petrol prices by about Rs 2.25 a litre from Sunday unless the government asks them to defer the move in view of assembly elections, company executives said.

Oil companies revise petrol prices every two weeks but in the middle of this month, the government told state firms to refrain from any increase as the move could cause uproar during the winter session of Parliament. As a result, the price rise would be relatively steeper as oil firms need to make up for the losses, they said.

Companies' executives say that compared to the landed price of imported petrol, domestic rates need to be raised by Rs 1.90 per litre, excluding local taxes. "If the entire loss is passed on to the consumer, with 20% state duties, the fuel will be costlier by 2.28 a litre in the Capital," one executive said. State levies vary from state to state.

Executives said a decision in this matter was expected on Saturday after securing an informal nod of the government. "There is some uncertainty as assembly elections have been declared in five states and companies may not get a green signal," an executive said. Elections will be held in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur between January 28 and March 3.

Officials in the petroleum ministry claimed that they would not intervene. "Oil companies are free to charge market rates for petrol and they should not hesitate in exercising their pricing freedom," a ministry official said, requesting anonymity.

The government allowed state oil firms to align petrol price with international rates on June last year, but companies always informally consulted it before taking any pricing decisions.

Until November, domestic petrol rates were cut or raised whenever it seemed politically acceptable. Subsequently, oil companies have systematically revised prices every two weeks, except for the fortnight ended December 15. "Had oil firms not deferred the price revision, petrol would have become costlier by 1.02 per litre," executives said.

Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum raised domestic retail prices of petrol by Rs 1.80 a litre on Nov 4 in Delhi. They cut the price by Rs 2.22 per litre and Rs 0.78 a litre in the following two fortnights.
Source : Petrol prices may go up by Rs 2.25 from January 1 - The Economic Times
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Old 30th December 2011, 09:40   #2336
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Default Re: The Official Fuel Prices Thread

Whats the point? Would a certain group of ministers threaten to quit govt, as they did last time? The answer is NO, and we common individuals suffer because of this.
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Old 30th December 2011, 14:22   #2337
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by goandude View Post
Diesel prices in Mumbai are 45.26 as of yesterday. Can any bangalore / KA member update of the price in Karnataka. I'm driving to KA soon.
HP is 46.05. Indianoil is 46.25/46.26
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Old 30th December 2011, 16:54   #2338
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by goandude View Post
Diesel prices in Mumbai are 45.26 as of yesterday. Can any bangalore / KA member update of the price in Karnataka. I'm driving to KA soon.
Ended up filling "super" diesel at Rs.59 yesterday from the Shell at Hinjewadi, Pune
My first diesel car so didn't know the exact price so thought i will give my baby some Shell fuel but didn't know the difference was this big
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Old 30th December 2011, 18:54   #2339
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Default Re: The Official Fuel Prices Thread

59! That's a damn steep difference. In petrol it is hardly 2-3 Rs (that too mostly unjustified).
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Old 30th December 2011, 19:57   #2340
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Repsol View Post
It's always the same old story...

* Oil companies claim huge losses and demand price hikes.
* They claim the rupee-dollar rate has shifted and demand another price hike.
* They will claim that the Gulf region has encountered a political crisis of sorts and will demand another petrol price hike.
* They will then claim that petrol price should be hiked to offset the subsidized prices of diesel.
* When everything normalises, they will lower petrol prices by Rs 1 and then demand a Rs 3 price hike.
* As soon as elections are completed, they will demand a petrol price hike.
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