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Old 9th January 2009, 21:12   #1081
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Quote:
Originally Posted by AirWind View Post
And I guess, the US$ was also trading similarly @ ~Rs.47 then!
A USD was about Rs45 in Dec 2004.

as per

10-year currency converter- Exchange rates- Rates and Statistics- Bank of Canada

Inflation was about 7%.

But then per capita income in 2004-05 was about 19500/- and is likely to be 35000/- in 2007-08.

So, somehow as per the above logic prices are quite reasonable

Edit:
P.S. : My exposure to Economics is almost negligible. Was able to come up with above jargons as I just finished watching Satyam saga on CNBC!

Regards,

Last edited by amohit : 9th January 2009 at 21:15.
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Old 10th January 2009, 20:48   #1082
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In couple of days price cut is confirmed. So we can expect this around Sankranti for sure.

Crude appears it would settle around 40$.

Regards,

Ravi.
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Old 10th January 2009, 21:34   #1083
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well after all this recession and stuff the common man will be benefited with reduced prices for commodities..One way good that the markets plunged.(i have no idea about the economy or wat so ever just speaking on behalf of my general observation)

Last edited by vinaydas : 10th January 2009 at 21:35.
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Old 10th January 2009, 22:53   #1084
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Quote:
Originally Posted by Fountainheader View Post
The UPA will take pro-people steps now that we are finally in the election year. They also know that they have to do it before the dates are announced.

I guess 5 for petrol and 2 for diesel is planned. Deora said on NDTV that price cut will be similar to the one in Dec.
IIRC, its 3 for diesel. Not sure about petrol's.
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Old 10th January 2009, 23:28   #1085
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IIRC, its 3 for diesel. Not sure about petrol's.

"According to Deora, the UPA government may reduce the petrol prices by Rs 5 per litre, and diesel prices by Rs 3 per litre. A cut in the prices of LPG is also on the cards. It is expected that the cooking gas prices will be slashed by Rs 20-25 per cylinder."

Thats what they said today on news.
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Old 11th January 2009, 00:46   #1086
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good!now indica is more affordable(diesel) .
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Old 13th January 2009, 13:07   #1087
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Fuel prices may be cut on Thursday. Hope they meant 15th January, 2008, and not some other Thursday.

Govt may slash fuel rates on Thursday; likely to free pricing- Oil & Gas-Energy-News By Industry-News-The Economic Times
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Old 13th January 2009, 13:11   #1088
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While reading the article in ET, I couldnt understand this: "There is also a proposal for freeing the retail fuel prices from administrative control ". what does 'freeing the retail fuel prices' mean?
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Old 13th January 2009, 13:39   #1089
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Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
Fuel prices may be cut on Thursday. Hope they meant 15th January, 2008, and not some other Thursday.

Govt may slash fuel rates on Thursday; likely to free pricing- Oil & Gas-Energy-News By Industry-News-The Economic Times
I thought the News on Tv said 10 days - which could mean next Thursday.
I'll watch a little TV and come back! I hope its this thursday too!
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Old 13th January 2009, 14:03   #1090
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What they mean by free pricing? GoI will no more be involved in fixing the price?
Is this good or bad?
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Old 13th January 2009, 14:18   #1091
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If it is free pricing, very good. Should have been implemented a long time back. Let the prices be determined solely by barrel price and not political considerations which have almost bankrupted the oil companies. And hopefully it will give players such as Shell, Essar & Reliance a fair competing ground.
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Old 13th January 2009, 14:22   #1092
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Quote:
Originally Posted by ethanhunt123 View Post
If it is free pricing, very good. Should have been implemented a long time back. Let the prices be determined solely by barrel price and not political considerations which have almost bankrupted the oil companies. And hopefully it will give players such as Shell, Essar & Reliance a fair competing ground.
yes i agree, atleast we can get good fuel for our cars and bikes.
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Old 13th January 2009, 15:06   #1093
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Quote:
Originally Posted by ethanhunt123 View Post
If it is free pricing, very good. Should have been implemented a long time back. Let the prices be determined solely by barrel price and not political considerations which have almost bankrupted the oil companies. And hopefully it will give players such as Shell, Essar & Reliance a fair competing ground.
Quote:
Originally Posted by Mr.Bangalore View Post
yes i agree, atleast we can get good fuel for our cars and bikes.
I hope this 'free pricing' will come out well. If the petrol co's form a cartel then we are all at their mercy!

Let us wait and see where this is heading to.

And found a very good cartoon. Not far from the truth:

(Source: Govt may slash fuel rates on Thursday; likely to free pricing- Oil & Gas-Energy-News By Industry-News-The Economic Times )

Name:  photo.jpeg
Views: 379
Size:  93.4 KB
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Old 13th January 2009, 16:08   #1094
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Quote:
Originally Posted by AirWind View Post
And I guess, the US$ was also trading similarly @ ~Rs.47 then!
Sorry for the delay, but the US$ averaged Rs. 44 in 12/2004.
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Old 13th January 2009, 16:21   #1095
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Quote:
Originally Posted by HappyWheels View Post
I hope this 'free pricing' will come out well. If the petrol co's form a cartel then we are all at their mercy!

Let us wait and see where this is heading to.

And found a very good cartoon. Not far from the truth:

(Source: Govt may slash fuel rates on Thursday; likely to free pricing- Oil & Gas-Energy-News By Industry-News-The Economic Times )

Attachment 8002
nice cartoon!! my take on this is that in case of free pricing there is a scope for private players also resulting in competitive pricing.
I still getting diesel 3 Rs cheaper at Reliance petrol pumps in punjab then govt. pumps before the oil surged to record levels.
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