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Old 29th June 2017, 11:31   #5971
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Default Re: The Official Fuel Prices Thread

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Originally Posted by m8002? View Post
Isnt the dealer commission on volume and not price? My understanding is that its fixed around 1.xx Rs/litre of fuel sold. Not sure if its different for petrol and diesel.

So I am not able to understand how the dealers will be at a loss with daily change in rates?
Yes, it is based on volume, but when he buys Petrol & Diesel at Current Price & sells it at lower price, isn't it a loss to him.

For example - A Dealer buys 10k Petrol for Current Price (say ₹68).
10k x 68 = ₹ 6,80,000.

Now, he sells 5k one day & 5k another day. With rates going down daily, he will be selling it at lower price then what he has purchased for. With rates going down by 25-40p daily (Including Tax), the losses will be

Day 1, 5000L x ₹ 67.60 (68 - 0.40p) = ₹ 3,38,000
Day 2, 5000L x ₹ 67.20 (67.40 - 0.40p) = ₹ 3,36,000

So, 3.38+3.36 = 6.74 lakhs which is a loss of 6k over the (Original) purchased Price.

This wasn't the case when Petrol & Diesel were being changed every 15 days.

Product sold at lesser price then the purchased Price is always a loss right.
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Old 29th June 2017, 11:38   #5972
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Default Re: The Official Fuel Prices Thread

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Originally Posted by CarguyNish View Post
Yes, it is based on volume, but when he buys Petrol & Diesel at Current Price & sells it at lower price, isn't it a loss to him.
...
...

Product sold at lesser price then the purchased Price is always a loss right.
We are talking of daily small changes in price. So the exact opposite will be applicable when the prices go up by 20/30p the next day and he makes "profit". When this up/down behaviour is spread over a period of a month, it should even out. It looks like a profit/loss only when you consider just one day's transaction in isolation.
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Old 29th June 2017, 14:29   #5973
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by CarguyNish View Post
Yes, it is based on volume, but when he buys Petrol & Diesel at Current Price & sells it at lower price, isn't it a loss to him.

For example - A Dealer buys 10k Petrol for Current Price (say ₹68).
10k x 68 = ₹ 6,80,000.

Now, he sells 5k one day & 5k another day. With rates going down daily, he will be selling it at lower price then what he has purchased for. With rates going down by 25-40p daily (Including Tax), the losses will be

Day 1, 5000L x ₹ 67.60 (68 - 0.40p) = ₹ 3,38,000
Day 2, 5000L x ₹ 67.20 (67.40 - 0.40p) = ₹ 3,36,000

So, 3.38+3.36 = 6.74 lakhs which is a loss of 6k over the (Original) purchased Price.

This wasn't the case when Petrol & Diesel were being changed every 15 days.

Product sold at lesser price then the purchased Price is always a loss right.
How many dealers have been caught out doctoring the pumps.

Data for Kerosene / Naphtha adulteration is still missing.

No wonder many of us prefer fuel from Reliance.
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Old 30th June 2017, 22:54   #5974
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Default Re: The Official Fuel Prices Thread

Tomorrow's prices Petrol 64.24 and Diesel 54.23. Massive 3.4rs drop for petrol in a single night. Not bad!
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Old 30th June 2017, 22:59   #5975
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Default Re: The Official Fuel Prices Thread

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Originally Posted by SunnyBoi View Post
Tomorrow's prices Petrol 64.24 and Diesel 54.23. Massive 3.4rs drop for petrol in a single night. Not bad!
I assume it is in Bangalore. What was the earlier price? It could be an attempt to show that GST augurs well for us, though petroleum products are not in its ambit!

Just kidding! It certainly has to do with international oil prices!
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Old 30th June 2017, 23:03   #5976
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Default Re: The Official Fuel Prices Thread

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Originally Posted by vnabhi View Post
I assume it is in Bangalore. What was the earlier price? It could be an attempt to show that GST augurs well for us, though petroleum products are not in its ambit!

Just kidding! It certainly has to do with international oil prices!
It is Bangalore. I filled up yesterday @ 67.77 per liter. I think today's price was 67.61rs.
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Old 1st July 2017, 13:29   #5977
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by SunnyBoi View Post
Tomorrow's prices Petrol 64.24 and Diesel 54.23. Massive 3.4rs drop for petrol in a single night. Not bad!
Does shell not update their prices? I filled normal diesel at Shell and it was Rs. 58.40 this morning
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Old 1st July 2017, 13:53   #5978
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Default Re: The Official Fuel Prices Thread

I couldn't find such a sharp price cut elsewhere. Price cuts today in:
Mumbai 26p
Kolkata 18p
Chennai 30p
Delhi 22p

Crude prices reduced only for Bengaluru?
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Old 1st July 2017, 14:06   #5979
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by SunnyBoi View Post
Tomorrow's prices Petrol 64.24 and Diesel 54.23. Massive 3.4rs drop for petrol in a single night. Not bad!
I guess this is specific for Bangalore/Karnataka! Could be some kind of tax adjustment made? Very surprising to see such a big reduction.

EDIT:
HPCL shows rates for Hosur as
Petrol 67.09
Diesel 57.68

and Bangalore as
Petrol 64.29
Diesel 54.28

Seeing this, first time ever!

Last edited by sandsun7 : 1st July 2017 at 14:08.
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Old 1st July 2017, 14:33   #5980
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by CarguyNish View Post
Product sold at lesser price then the purchased Price is always a loss right.
isn't the petrol pump business is commission based business on per litre of fuel sold? Follow the below link.

http://m.thehindubusinessline.com/ec...cle2147782.ece

Last edited by NPX : 1st July 2017 at 14:40. Reason: adding link
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Old 1st July 2017, 15:04   #5981
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Default Re: The Official Fuel Prices Thread

Tanked up today and the prices were 64.24. Day before yesterday when i tanked up it was 67.77. That's some good amount of movement in prices in such short span.

P.S.: Above mentioned prices were of IOC pumps at Bengaluru
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Old 2nd July 2017, 09:41   #5982
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Default Re: The Official Fuel Prices Thread

Petroleum prices fall by Rs 3 per litre in Karnataka as state abolishes entry tax

http://timesofindia.indiatimes.com/c...w/59407363.cms

Last edited by hothatchaway : 2nd July 2017 at 09:53. Reason: typo
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Old 2nd July 2017, 09:57   #5983
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by antz.bin View Post
I couldn't find such a sharp price cut elsewhere. Price cuts today in:
Mumbai 26p
Kolkata 18p
Chennai 30p
Delhi 22p

Crude prices reduced only for Bengaluru?
KA has overnight waived the state entry tax for fuels.
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Old 2nd July 2017, 11:06   #5984
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Default Re: The Official Fuel Prices Thread

Tanked up yesterday @64.3 at HP bunk Begur Koppa road. Last Friday it was 67.71 at the same place.

Quote:
Originally Posted by itwasntme View Post
KA has overnight waived the state entry tax for fuels.
Guess this is the reason for the substantial reduction

Last edited by SoumenD : 2nd July 2017 at 11:08.
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Old 3rd July 2017, 08:48   #5985
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Default Re: The Official Fuel Prices Thread

I feel we should refrain from posting daily fuel price variations, is different cities. Else this thread risks becoming almost irrelevant, and a waste.

Would the mods please set up an arrangement for posting, say weekly price in some select locations.
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