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Old 1st September 2017, 09:04   #6046
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Default Re: The Official Fuel Prices Thread

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Originally Posted by StallionAmit View Post
Crude prices reduced by 2% yesterday however still there was a price increase, can't at all understand why?
Today IOC is showing a 11 paise increase in petrol while the other 2 BP/HP are showing 5 paise increase.

Last edited by aah78 : 16th September 2017 at 01:03. Reason: Typo / grammar.
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Old 1st September 2017, 09:21   #6047
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Default Re: The Official Fuel Prices Thread

Are we the only people crying foul with the pricing ?

There are no political movement seen anywhere in the country about the price increase without any "valid" logic.

Mainstream media is bit silent on this topic. No question is thrown at the ruling elite on this subject.

The price increase is substantial. Over Rs. 6/- for petrol and almost Rs. 4/- for diesel.
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Old 1st September 2017, 09:37   #6048
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Smile Re: The Official Fuel Prices Thread

Guys be prepared to shell out more for the fuel prices in the coming days. The Brent crude prices are on a rise and with the recent reports of the major US pipeline transporting crude from Houston cut off, demand is going to rise which will spike the crude prices.

The OMC's in India are just waiting for this opportunity to jack prices although their crude basket cost will be far lower.

http://www.bbc.com/news/business-41107007

https://www.cnbc.com/2017/08/31/gulf...main-shut.html

http://abcnews.go.com/US/wireStory/s...arvey-49534866

Check out the news reports on Google.
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Old 1st September 2017, 09:42   #6049
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Default Re: The Official Fuel Prices Thread

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Originally Posted by NaXal View Post
Mainstream media is bit silent on this topic. No question is thrown at the ruling elite on this subject.
Really? - https://news.google.com/news/story/d...oWYW1X2M?hl=en
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Old 1st September 2017, 10:09   #6050
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Default Re: The Official Fuel Prices Thread

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Originally Posted by StarScream View Post
TV News, news papers aren't giving this full coverage.

I did say "bit" silent. As I did read some of these reports few days back.

But there are no "debate" happening or asking questions to the decision makers as what is making our fuel price go up such drastically ?

Here we all know how fuel prices are directly linked with economy and how chain of connection effects everything. But mainstream media coverage makes that clear to general mass for better awareness and forces the key ruling figures to come up with answers, and long term plan.

Every country safe guard its interest and fuel prices/supply are one of the key points there.

There were reports about strategic storage and deals with UAE/Iran oil. What happened there? Why didn't we (public) get some benefit out of it.

How about some light on India's plan for cheaper oil purchase ? Any new alliance we are forming to use market based economy and our foreign policy to get cheaper oil? What are the long term plan/policy and deadline set ahead of us for these measures?

Unless mainstream media start their discussion and debate on these subjects, how can we get some clear answers and look ahead ?
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Old 1st September 2017, 10:49   #6051
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The reason , in my personal opinion why politicians will not raise an issue about the fuel price rise is that they almost never pay for the fuel that they put in their cars .
Heck , I'm sure most of them will be unaware of the cost of petrol / diesel that is being charged to us .
Cars being a soft target , I'm sure the cess on petrol will keep rising and we will be mere mute spectators .
Cheers .
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Old 1st September 2017, 11:22   #6052
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by NaXal View Post
But there are no "debate" happening or asking questions to the decision makers as what is making our fuel price go up such drastically ?
https://thewire.in/20964/why-the-75-...-reaching-you/

http://indianexpress.com/article/opi...-flat-3034549/

Quote:
Originally Posted by NaXal View Post
There were reports about strategic storage and deals with UAE/Iran oil. What happened there? Why didn't we (public) get some benefit out of it.
http://timesofindia.indiatimes.com/b...w/56793334.cms

http://www.livemint.com/Politics/MJR...gas-field.html

Quote:
Originally Posted by NaXal View Post
How about some light on India's plan for cheaper oil purchase ? Any new alliance we are forming to use market based economy and our foreign policy to get cheaper oil? What are the long term plan/policy and deadline set ahead of us for these measures?
http://www.livemint.com/Industry/4BJ...il-prices.html

http://www.thehindubusinessline.com/...cle9828616.ece

http://www.thehindu.com/todays-paper...le14418168.ece

and some that don't strictly fall under the definition of media:

https://www.platts.com/latest-news/o...plans-27854928

http://www.iasparliament.com/current...-oil-diplomacy

https://www.brookings.edu/blog/order...e-middle-east/

Look and ye shall find - let's stop shooting the messenger.
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Old 1st September 2017, 11:27   #6053
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Default Re: The Official Fuel Prices Thread

I fuelled up in Aurangabad couple of days ago with petrol at 80 Rs/ltr!! To be honest, I would still swallow this very bitter pill if it translates into visible action towards helping the nation actually cut down on dependency on imported crude oil. If rupees rise goes towards subsidizing electric vehicles or setting up charging infrastructure, I would be more than happy.

However, as it stands, government's approach towards reducing crude oil dependency seems to be running the pockets of common man dry so that he buys less fuel and hence government cuts on import bill!!
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Old 1st September 2017, 11:50   #6054
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Default The Official Fuel Prices Thread


These articles are over a year old now. The topic being discussed is about increase in prices post introduction of daily regulation

Last edited by kkkkkaran : 1st September 2017 at 11:52.
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Old 1st September 2017, 11:59   #6055
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Default The Official Fuel Prices Thread

The GOI wants to force us to go electric so this is a good way to keep fuel prices market determined and keep a high rate of taxes on it so that the general population gets fed up and moves towards public transportation and electric mobility and demands the same from the manufacturers

Who would've thought when barrel was 120 $ petrol was max 80 and now when barrel is 50- ish -$ petrol is 80 . Robbery - yes, deceitful - yes, shamelessness - yes, now what do we do ? Vote them out ? But no guarantee on the replacements either.

Last edited by M00M : 1st September 2017 at 12:02.
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Old 1st September 2017, 13:10   #6056
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Default Re: The Official Fuel Prices Thread

Regarding the mainstream media ignoring fuel prices rocketing upwards, here is a video which may give a clearer picture of this phenomenon. She makes some valid points regarding price hike and its effects on the common man.

Courtesy - Mirror now


Last edited by SourabhSuresh : 1st September 2017 at 13:19. Reason: Link went down
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Old 1st September 2017, 14:22   #6057
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Default Re: The Official Fuel Prices Thread

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Originally Posted by kkkkkaran View Post
These articles are over a year old now. The topic being discussed is about increase in prices post introduction of daily regulation
Yes they are but their core logic/explanation still holds true, whether the price is changed daily or not. In fact it bolsters my point further - the media has been covering/writing about this issue for a long time.
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Old 1st September 2017, 14:34   #6058
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Default Re: The Official Fuel Prices Thread

The rise in international fuel prices is also linked to hurricane Harvey. According to a report below, this hurricane has forced 23% of the crude refinery capacity of US to go offline. Due to the sharp fall in demand of crude oil, the crude prices are falling. At the same time, demand for fuel is rising in US which is jacking up the fuel prices.

The refineries and the traders in Asia and Europe are enjoying windfall gains. Low crude oil prices reduce their input cost while demand from US to import fuel has ensured much higher selling prices.

http://www.livemint.com/Industry/y7M...-for-fuel.html

IMO, these high prices would continue for a few months until demand stabilizes and all the oil refineries are operational.
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Old 1st September 2017, 20:59   #6059
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Default Re: The Official Fuel Prices Thread

Mankind has been squeezed & sucked dry since repeated various manufactured oil crises by various entities like govt, pvt oil corporations, oil producing countries etc. India is a class act example of bureaucrats and govt servants in finance ministry and various babu ministries who have actually no deep knowledge of economics like publication of any papers with deep insights or doctoral research thesis on economic policies. Instead some 'jack of all trades' ego maniac IAS babu sitting in some central policy making body decides that it is cheapest and easiest source of income for state to tax petrol because that is what has been drilled into his head during his last IMF/WB deputation postings that these IAS types slavisly crave for.

Now what is interest of IMF/WB to encourage hike in fuel prices and decrease interest rates. Simple answer, it is the best means by which pvt corporations and western capital lending institutions can siphon off wealth from developing countries. If citizens bury more of their money in fuel and commodities, then their savings go down, local enterprise and independent capital gets dis-incentivized and people more or less can become tax paying captive stock and state surplus can be more effectively funneled by pvt Western corporations as fuel import bill, defence imports, import of capital assets, debt repayment. If this is put into a cycle then it is a never ending cycle that can keep most countries in perpetual deficit.

Last edited by aah78 : 16th September 2017 at 01:04. Reason: Typo / grammar.
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Old 2nd September 2017, 00:31   #6060
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Default Re: The Official Fuel Prices Thread

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Originally Posted by M00M View Post
The GOI wants to force us to go electric so this is a good way to keep fuel prices market determined and keep a high rate of taxes on it so that the general population gets fed up and moves towards public transportation and electric mobility and demands the same from the manufacturers
God No!

GoI doesn't care about the environment or the common man. They have to pay back in cash/kind to the powers that financed their 2014 win. Halfway through, now they also got to prepare for 2019.

I would be happy, no, elated, if they actually had a vision for 10+ years - for things which could benefit the common man. Sadly, all their planning is in 5 year terms and limited to "how to save the seat", or "how to get a seat"
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