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Old 7th September 2012, 10:59   #2716
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Default Re: The Official Fuel Prices Thread

Shell price revisions are an indicators to the upcoming price revision in PSU's. Now incase of a upward revison of 5 to the PSU pricing will narrow the differential between the two ( ~Rs 2)

Cheers!
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Old 7th September 2012, 11:21   #2717
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Default Re: The Official Fuel Prices Thread

TOI confirms the price hike, effective tomorrow:

http://timesofindia.indiatimes.com/b...w/16292882.cms

Guess there will be long queues tonight again.
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Old 7th September 2012, 11:52   #2718
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Well ! Again we have to bear the burden of goverments sins. I do not know what more to say. Thank you Govt.
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Old 7th September 2012, 12:05   #2719
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Oil minister Jaipal Reddy on Friday denied speculation that oil marketing companies were going to hike the prices of fuel.
The minister said that there was a need to lower the under-recoveries faced by the oil companies by selling fuel at subsidized rates.

The comment from the minister has ended days of speculation that the government will increase fuel prices and also allow oil marketing companies to increase petrol prices.
Stepping back from his ministry’s earlier stance, he said floating a cabinet note is different from taking action and no decision has been taken yet on fuel prices.
He said it is the duty of the oil minister to raise issues of oil companies, referring to media reports that the ministry has circulated a cabinet note on fuel price increases.
He said the government cannot fully compensate oil marketing companies’ losses.


Well, vote bank politics wins again? Its good for us but for how long before they raise the price by an even steeper margin

Last edited by shadows123 : 7th September 2012 at 12:32.
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Old 7th September 2012, 12:14   #2720
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Default Re: The Official Fuel Prices Thread

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Originally Posted by shadows123 View Post
Oil minister Jaipal Reddy on Friday denied speculation that oil marketing companies were going to hike the prices of fuel.
The minister said that there was a need to lower the under-recoveries faced by the oil companies by selling fuel at subsidized rates.


Well, vote bank politics wins again? Its good for us but for how long before they raise the price by an even steeper margin
Relax


11:53 Raise a toast! NO fuel hike for now : News from the petroleum ministry should bring some cheer. Petroleum minister Jaipal Reddy has announced that there will be NO fuel hike for now. State-owned oil marketing companies were all set to increase the price of petrol by Rs 5 a litre with effect from Saturday, while the prices of diesel, cooking gas and kerosene was supposed to have been increased next week.
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Old 7th September 2012, 12:57   #2721
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Default Re: The Official Fuel Prices Thread

Frustration! Do these bunch of jokers expect declining petrol sales to compensate the burgeoning diesel sales.. again?!

It is rather funny, given that even Hero & Bajaj reporting sale of two wheelers!

But in a way, I am happy to see that the vote bank politics is being pushed to a corner, rather slowly though. I mean, how long will they keep increasing petrol when the petrol sales is declining?
I am hopeful still, can it get worse than now?
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Old 7th September 2012, 12:59   #2722
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Angry Re: The Official Fuel Prices Thread

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Originally Posted by _raVan_ View Post
The biggest joke of the fuel price hike
"while the prices of diesel,cooking gas and kerosene will be increased next week once Congress president Sonia Gandhi returns after her medical checkup on September 10". Whats the co-relation between a medical check up & fuel hike? If the medical check up goes all well I guess there will be no diesel price hike, if it doesn't see a marginal rupee increase.
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Old 7th September 2012, 13:49   #2723
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The news came just in about the reported price hike being called off by the Oil Ministry.

http://www.moneycontrol.com/news/bus...06.html#toptag

Is the pain over or more left for the coming days?
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Old 7th September 2012, 14:03   #2724
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The news came just in about the reported price hike being called off by the Oil Ministry.

http://www.moneycontrol.com/news/bus...06.html#toptag

Is the pain over or more left for the coming days?
Of course its not over!! In all likelyhood, Congress will finally decide after Sonia comes back to screw petrol users, Increase it by 8Rs or so, compensate 2Rs for diesel users from it and keep diesel price as it is! One thing is for sure, Congress govt under India's best economics expert team(P.C, M.M.S etc) would rather lead the country to financial ruin just to save their vote bank!!
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Old 7th September 2012, 15:23   #2725
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Default Re: The Official Fuel Prices Thread

After the build-up, why the sudden reluctance?

People are almost prepared for the hike. Putting on hold the hike until Ms. Gandhi returns shows the bankruptcy of the leadership which cannot govern the country on their own.
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Old 7th September 2012, 15:26   #2726
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After the build-up, why the sudden reluctance?

People are almost prepared for the hike. Putting on hold the hike until Ms. Gandhi returns shows the bankruptcy of the leadership which cannot govern the country on their own.
If they hike prices now, then 2 madam's will object (Sonia and Mamta) to decisions taken without them!
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Old 7th September 2012, 15:34   #2727
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If they hike prices now, then 2 madam's will object (Sonia and Mamta) to decisions taken without them!
Ms. Bannerjee will take to the street any way, even if one takes her into confidence before finalizing the decision.
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Old 7th September 2012, 16:36   #2728
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Angry Re: The Official Fuel Prices Thread

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After the build-up, why the sudden reluctance?
This is a classic case of slow death and "politics defeating economics". Few posts earlier I had pointed out to a link which says that the price hike is on hold. Now I read that the hike for sure will be in the next week. One thing i dont understand when the OMC are losing Rs 5/- over every litre of petrol and Rs 19 over every litre of diesel, why does the govt want to get the maths wrong by hiking the petrol price massively. Or that the govt is saying on the face of the petrol users "either you want petrol price same and high food item costs or vice versa" and we have diesel users (read all not only diesel vehicles) ROFLing behind the govt's back. Pathetic.
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Old 7th September 2012, 16:49   #2729
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This is a classic case of slow death and "politics defeating economics". Few posts earlier I had pointed out to a link which says that the price hike is on hold. Now I read that the hike for sure will be in the next week. One thing i dont understand when the OMC are losing Rs 5/- over every litre of petrol and Rs 19 over every litre of diesel, why does the govt want to get the maths wrong by hiking the petrol price massively. Or that the govt is saying on the face of the petrol users "either you want petrol price same and high food item costs or vice versa" and we have diesel users (read all not only diesel vehicles) ROFLing behind the govt's back. Pathetic.
They do have an alternative you know. Keep both same and increase price of cigarettes and Liquor!! Also tax electronic goods a bit more than current ...People can live with that rather than continuing to put burden on every person's life by increasing petrol price after every major event like its a norm or something!! What i have said might not actually compensate though for the losses on fuel by the OMC's.
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Old 8th September 2012, 16:20   #2730
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