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Old 28th February 2014, 22:49   #3526
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Default Re: The Official Fuel Prices Thread

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Originally Posted by asdon View Post
What is going to be the max price of diesel at the end? or does Govt plans to increase 50 paise till eternity?
I have always repeated this. There will never be equal pricing for Diesel and Petrol. This is a well thought out game. Fuel is the lifeline of every citizen and people will crib but still pay for it specially in the absence of any comfortable public transport system. When diesel was priced 10 rs less than today even then I used to hear the same thing that the loss is around 10-12 rs per litre and we will increase the prices by 50 paise. The story is same one year down the line and after almost a 10 rs or more hike in diesel prices. Petrol prices as usual will keep fluctuating but overall would go only northwards since afterall Fuel is a non reusable commodity and hence price will go up with each year. So this vicious circle will always continue where petrol prices would gradually climb up and diesel prices will be increased gradually in the disguise of covering losses. Fuel is there biggest cash cow and they are not going to let go off it.
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Old 28th February 2014, 23:18   #3527
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Default Re: The Official Fuel Prices Thread

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Originally Posted by drmohitg View Post
Fuel is there biggest cash cow and they are not going to let go off it.
+1 to this.

The state taxes add up almost 50% to the final price of the fuel. So, if the government was really bothered about the common man, they would have reduced taxes, but no, they need money to fill their coffers, so the common man will continue to be burdened.
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Old 28th February 2014, 23:36   #3528
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Default Re: The Official Fuel Prices Thread

And as we speak there comes another fuel hike. 60 paise for Petrol and 50 paise for diesel. How on earth do they plan to finish the gap between the two fuels if every fortnight they also increase petrol prices? As usual the reason given is now the same old garbage:

Quote:
Announcing the price hike, Indian Oil Corp, the nation's largest fuel retailer, said petrol price has been hiked because international oil rates have risen and rupee depreciated against US dollar, making imports costlier.

Source: http://profit.ndtv.com/news/industri...0-paise-380760
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Old 1st March 2014, 04:41   #3529
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Default Re: The Official Fuel Prices Thread

@drmohitg; I thought the rupee is mostly below 62 so where is the depreciation. Diesel up as expected, petrol up a total GOOGLY. We have been expecting a drop for some time.

I will not be surprised if their is some election politics involved. Jack up petrol for now and then drop just before elections!
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Old 1st March 2014, 11:26   #3530
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Default Re: The Official Fuel Prices Thread

Politics! It turns down every logic. At a time when we were expecting a drop in petrol prices, here comes the shocker - increase in petrol price! What mockery of the so called deregulation policy.
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Old 3rd March 2014, 07:58   #3531
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Default Re: The Official Fuel Prices Thread

This was the precise reason why i picked up a diesel car. These politicians will never let Diesel catchup with the price of petrol. I would be surprised even if diesel petrol gap is less than 10rs !!

Biggest casualty is our Economy.
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Old 3rd March 2014, 08:57   #3532
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Default Re: The Official Fuel Prices Thread

Fuel Prices will go up soon as the crisis in Ukraine intensifies and Crude inching up, I would assume a Libya style situation like last July and August.
I think the recent price hike was in preparation for the crisis only.
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Old 3rd March 2014, 09:54   #3533
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Default Re: The Official Fuel Prices Thread

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Originally Posted by saket77 View Post
Politics! It turns down every logic. At a time when we were expecting a drop in petrol prices, here comes the shocker - increase in petrol price! What mockery of the so called deregulation policy.
Whether fuel prices increase or decrease, Govt is always to blame

I feel the policy has been consistently applied since it was announced.

Crude oil prices & futures are indeed firming up because of Syria / Ukraine factor, plus US economic recovery will hike oil prices further.
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Old 3rd March 2014, 10:24   #3534
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Default Re: The Official Fuel Prices Thread

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Originally Posted by gsurya View Post
Whether fuel prices increase or decrease, Govt is always to blame

I feel the policy has been consistently applied since it was announced.
If the policy has been 'consistently' applied then despite the rupee firming up against the USD and again despite fall in International crude prices, why did we not see any fall in prices of fuel? And if the fuel is really deregulated, when why the oil firms have to seek permission from Govt. to increase or decrease the prices? It should anyway happen since it is deregulated.

Also, call it a prophecy, going by this 'policy' we will see a good cut in petrol prices just before the elections. Will quote this post then.

Last edited by saket77 : 3rd March 2014 at 10:35.
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Old 3rd March 2014, 12:17   #3535
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Default Re: The Official Fuel Prices Thread

There is a 1% firming up of ATF prices, so maybe some long term contracts did run out. ATF prices are least susceptible to politics so I take then as a good check.
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Old 3rd March 2014, 19:46   #3536
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Default Re: The Official Fuel Prices Thread

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Originally Posted by rajshenoy View Post
This was the precise reason why i picked up a diesel car.
Couldn't agree more. Smart decision and many others will be thinking the same. I too believe that diesel prices will never catch up to petrol prices.
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Old 5th March 2014, 11:34   #3537
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Default Re: The Official Fuel Prices Thread

Today saw an item that Basket prices have firmed up $2+ to $108+. So expect another Rs.2 on petrol soon.
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Old 5th March 2014, 12:00   #3538
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Unhappy Re: The Official Fuel Prices Thread

When I refulled today with the new Diesel prices at 63.86 per litre, the tankful now costs around 2550 rupees as compared to 2200 rupees 9 months ago. Effectively the rise is 16% where as the annual salary rise is in the order of 4-8%. Even diesel refuelling is pinching. Just wonder how petrol users cope up with the rise.

Mods if you feel this post is out of context pls delete it.
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Old 5th March 2014, 12:08   #3539
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sgiitk View Post
So expect another Rs.2 on petrol soon.
The Russkies gain a lot when crude prices shoot up. So Putin and his gang would want to keep tensions high in Ukraine for the time being, even if a war is averted.
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Old 5th March 2014, 12:59   #3540
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sgiitk View Post
Today saw an item that Basket prices have firmed up $2+ to $108+. So expect another Rs.2 on petrol soon.
The price had touched $107.84 on 19th Feb

http://pib.nic.in/newsite/pmreleases.aspx?mincode=20

So hope this was considered in the recent month end price hike and if yes then the price increase could be marginal
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