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Old 3rd June 2015, 16:18   #4801
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Default Re: The Official Fuel Prices Thread

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Markets have tumbled and the rupee breached 64 today. Get prepared for another hike.
There are two parameters of Interest - Brent and Exchange Rate. So I propose a new figure taking both into account which I call ₹brent, ie Brent (in $) x Exchange Rate, which today is 63.90 x 64.00 = 4093 ₹/bbl. It is easy for us to compute and track. Duties etc re on top of this. This will prevent either parameter from overtly colouring our judgement.
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Old 3rd June 2015, 16:45   #4802
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sgiitk View Post
There are two parameters of Interest - Brent and Exchange Rate. So I propose a new figure taking both into account which I call ₹brent, ie Brent (in $) x Exchange Rate, which today is 63.90 x 64.00 = 4093 ₹/bbl. It is easy for us to compute and track. Duties etc re on top of this. This will prevent either parameter from overtly colouring our judgement.
So you are saying it will not see a hike? Sorry, I am not so well versed with what the Rupee Brent levels should be before we can call it time for a Hike.
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Old 3rd June 2015, 17:29   #4803
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Default Re: The Official Fuel Prices Thread

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There are two parameters of Interest ----
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Originally Posted by ashua View Post
So you are saying it will not see a hike? Sorry, I am not so well versed with what the Rupee Brent levels should be before we can call it time for a Hike.
I tried to crack the code many times on logic of crude/ Re. vs. USD/ economy of OPECs and all...but ridiculous excuses by the party in rule (& the oil companies) overrule all those global financial logic.

There was a time when crude prices went down to the 30s and neither the rupee depreciated as much; but then Oil companies made the excuse that the crude was bought earlier at a higher price and what not. They never 'bought' crude at a lower price whenever the price rises.

Hence, I have stopped thinking about it. The pricing is simply illogical and trying to decode the logic feels nothing more than a bet that on which side the camel will sit!

Thanks!
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Old 3rd June 2015, 20:43   #4804
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Default Re: The Official Fuel Prices Thread

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So you are saying it will not see a hike? Sorry, I am not so well versed with what the Rupee Brent levels should be before we can call it time for a Hike.
All that I said was quite often we see the exchange rate and ignore the Brent price or vice versa. So this formula incorporates both.
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Old 4th June 2015, 15:42   #4805
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Default Re: The Official Fuel Prices Thread

Gas prices up again. Rs. 74.90 in my city.
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Old 4th June 2015, 17:37   #4806
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Default Re: The Official Fuel Prices Thread

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Gas prices up again. Rs. 74.90 in my city.
Though the news is not surprising at all, but could not find that in news anywhere. Could you share by how much the prices have gone up? Or still better if you could share a link.

Thanks.
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Old 5th June 2015, 07:47   #4807
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Default Re: The Official Fuel Prices Thread

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Could you share by how much the prices have gone up?
I don't have a link. This was observed when I went to fill gas this week. I went twice, one was Shell and the other HP. Shell was selling BSIII at Rs. 72.60 on 6/2. When I popped in at HP on 6/3, the dispenser showed 74.90. My guess is it is BS4. Still; does not line up to what their website says.

Last edited by sandeepmohan : 5th June 2015 at 07:51.
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Old 5th June 2015, 12:06   #4808
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Default Re: The Official Fuel Prices Thread

Hyderabad the price is 74.90 per liter for petrol. Suddenly it's threatening to touch level of 80s.
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Old 5th June 2015, 12:22   #4809
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sandeepmohan View Post
Gas prices up again. Rs. 74.90 in my city.
I just filled up. Price is still the same. Rs.72.65/Litre.

Was that Shell? Or may be you were sold Extra Premium or something?
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Old 5th June 2015, 13:29   #4810
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Default Re: The Official Fuel Prices Thread

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Originally Posted by blue_pulsar View Post
Was that Shell?
No.

Shell BSIII was Rs. 72.60
HP Regular Gas was Rs. 74.90
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Old 5th June 2015, 14:37   #4811
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Default Re: The Official Fuel Prices Thread

₹brent right now is 61.76 (Brent in $) * 63.885 ($ is ₹), ie 3946! So this unit does seem to make sense. Remember the OMC average over a fortnight and taking into account many parameters their average price of procurement is somewhat lower.
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Old 7th June 2015, 22:11   #4812
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Default Re: The Official Fuel Prices Thread

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Originally Posted by saket77 View Post
I tried to crack the code many times.............about it. The pricing is simply illogical and trying to decode the logic feels nothing more than a bet that on which side the camel will sit!

Thanks!
Yes, Saket, there's nothing logical about over-riding greed! All the hocus that the vested interests - well-head operators, importers, distributors, retailers - give to us consumers, the last link in the chain, is just that - so much gobble-de-gook. The details of oil pricing and profit sharing remains as obfuscated as any of the NSA's smoke-screens.
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Old 15th June 2015, 15:04   #4813
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Default Re: The Official Fuel Prices Thread

Today is 15th and time for the next price revision. Any predictions on whether it would go up or down? I resisted the temptation to tank up in the morning hoping it would come down this time.

I wonder whether the media would hush up the hike like last time.
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Old 15th June 2015, 15:12   #4814
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Default Re: The Official Fuel Prices Thread

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Originally Posted by civic-sense View Post
Today is 15th and time for the next price revision. Any predictions on whether it would go up or down? I resisted the temptation to tank up in the morning hoping it would come down this time.

I wonder whether the media would hush up the hike like last time.
Ideally it should come down as the Brent prices has come down from around 67-68 to 64 USD/barrel and rupee has more or less remained around the same; at least i see no reason for it being increased. But with these PSU oil companies there is no guarantee, for all you know they could increase it.
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Old 15th June 2015, 16:04   #4815
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Default Re: The Official Fuel Prices Thread

What about the US$ that has firmed up against the Rupee ?

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Originally Posted by Mohan Mathew A View Post
at least i see no reason for it being increased.
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