Official tracker of Price hike's & cut's in petrol & diesel in India

[sbasak]

Compare petrol price with other countries here.

http://www.k****ij.com/research/petrol.shtml

We already pay too much for petrol in India.

This is because diesel & other agricultural consumables are subsidised by revenue earned from petrol price.

Petrol price up means bus/taxi/transport fare up -> everything dearer

Edit: I don't know why the URL shows ****???
replace **** with S-H-I-T

[Fiero]

man ... i'm shifting to malaysia ... INR 18.9/litre

[RJK]

Oh dear god ! That would be the limit if the said hike goes through. Here people are complaining at $2.85/gallon.

Wow! I didn't know malaysia had that cheap fuel.

[aah78]

Originally Posted by RJK

Oh dear god ! That would be the limit if the said hike goes through. Here people are complaining at $2.85/gallon.

Wow! I didn't know malaysia had that cheap fuel.

$71/barrel of oil translates to roughly $3.00/gallon for regular petrol (87) & $3.20/gallon for premium petrol (91+) in New York.

i travel between New York - Maryland - Virginia every week.

its killing me, to put it mildly :(

the fact that New Jersey is in my travel path does help a little bit though...

[panky12345]

Originally Posted by Fiero

man ... i'm shifting to malaysia ... INR 18.9/litre

Dubai & Muscat are still cheaper, 80 fils a liter. 1 AED = 11.80 INR = 100 fils

[Fiero]

Originally Posted by panky12345

Dubai & Muscat are still cheaper, 80 fils a liter. 1 AED = 11.80 INR = 100 fils

wow .. if thats true ... then dubai it is

[SLK]

the latest...

IOC is seeking hikes of Rs 5.6/litre and Rs 7.6/litre in the prices of petrol and diesel respectively. Said Mr Sarthak Behuria, CMD of IOC, “If crude prices stay at current levels, our revenue loss for ‘06-’07 would be around Rs 30,000 crore. However, we are confident of some government intervention on the price front.”

Read the full story at http://economictimes.indiatimes.com/...ow/1496945.cms

Nevertheless I find it strange that these oil companies claim to be in loss every few days!....
So I actually checked out IOCs financials.... Last year they are in profit (i.e. year ended 31 March 2005)... though 3rd quarter of the year 2005-2006 is in LOSS (though not much).

Again if Oil companies make loss!!!... how can Reliance's latest IPO be over subscribed by 25 times.

I am sure I am missing something... WHAT?

[mxx]

Originally Posted by SLK

Again if Oil companies make loss!!!... how can Reliance's latest IPO be over subscribed by 25 times.

I am sure I am missing something... WHAT?

Reliance petroleum is export oriented and not for domestic market.

"The new 29-million-tonne (5,80,000 barrels-a-day) refinery will be housed in a special economic zone adjacent to the existing refinery of Reliance Industries and supply exclusively to the export market, specifically the United States and Europe." - Hindu Business Line (09/04/2006)

[mxx]

Petrol price in UK is aproximately 93p=0.93GBP=INR.75

[SLK]

Originally Posted by mxx

Reliance petroleum is export oriented and not for domestic market.

ok ...Right....

I guess it won't be spared of customs... while exporting. And the petroleum price in US is less than in India. I wonder how is it compititive then!

Anyways... the price of crude oil rises and the Govt. gains (duty)... we lose.

Is the govt... considering to lower the duty?.. I guess not.... why?...
ah probably b'coz ... SC/ST/OBC... aren't affected that much!
Or maybe the day they would be affected.... govt. would reserve 50% fuel for them... free of cost (the cost of which I'd pay in my taxes).

[veyron1]

@Deeps; the current inflation is running at around 5.5-6%.

@SLK; the reliance petro IPO was oversubscribed 47 times, not 25; helped by chevron interest in no small part. issue closed yesterday. total value (oversubscribed) of bids stand at 132,000 Cr. more than market cap of entire reliance industries. all for approximately 2790 Cr. worth shares. damn sons of guns...i'm pretty sure that if the govt. happens to take off the "subsidy" and regulation regime, even though cooking gas might go up by rs.200 per cylinder, petrol/diesel prices will come down by rs.20 per litre, as reliance and other biggies might take India as a more lucrative market than abroad, and market more of their produce locally. considering that reliance makes the highest margins at refining, they'll gladly sell fuel locally at international rates.

aahhh....dreams...

on a more practical note, the best bet for india would be opel's diesel speedster; around 50kmpl and 240 kmph top speed or thereabouts. THE perfect recipe over here.

on a different note; i think this would be the best time to market high-performance bikes; when spirited driving seems out-of-reach, spirited riding could always come to the rescue....what i meant was; if not fast cars, fast bikes seem to be the best option; fuel efficient, easier to maintain, requires lesser parking space, etc....perhaps the govt should give subsidies on busas and r1's and the like, for people who intend to buy lancers or octys....ah, but one is allowed to imagine...

[SLK]

Originally Posted by veyron1

@SLK; the reliance petro IPO was oversubscribed 47 times, not 25;

Yup.... that figure was before the last day closed.

Originally Posted by veyron1

considering that reliance makes the highest margins at refining, they'll gladly sell fuel locally at international rates.

So that says.... IOC and the likes really need to go for cost cutting and efficiency? And the reason for their loss is not just high crude oil prices.. but their internal inefficiencies.?

[veyron1]

@SLK; the problem is, refining and marketing companies like IOC, Indian Oil, BP, etc. find that they can make more money off refined (and imported) crude by exporting it. that way, you get forex, no tax, and hence more margins. currently, govt. charges a BOMB on imports per barrel, not to mention taxes, subsidies, pricing control, etc. how can the companies make up? by exports, of course.

the truth of the matter is that India wouldn't need to import fuel if regulations were justified. our country is self sufficient. but how will the babus eat if they stop importing, eh? that's the "system" for you. of course, my opinions are subjective, and since i am not the petrolem minister, i cannot fully comprehend or comment on the "internal" proceedings and their complications. but hey, i'm entitled to my views as a citizen, right...?

and guess what? the $71 per barrel is for light and sweet/brent crude; not the heavy or "unprocessed" crude that WE import....ain't THAT something? the crude WE import stand at about $50-52 per barrel...last time i checked....
most of the crude imported by us come in the "heavy" category, that takes a pain to refine or process. these are usually for large scale and industrial fuels. sweet crude being imported by us is for automotive and aviation, but after looking at the quality, i think they're using MORE of heavy crude and less of sweet....

[venkatrx]

2002 - rs.33/ltr
2003 - rs. 35/ltr
2004 - rs. 41/ltr
2005 - rs. 46/ltr
2006 - rs. 51/ltr
next week it will become rs.57/ltr

Guys,
in just 4 years the price has almost doubled !!

Even with out any major military attacks/terrorists attacks the price in next fours year will be 100 to 120.

so for all the guys try to find the TCO of your new cars.......it might be a good idea to assume average fuel price (for next four years) as rs.90/ltr

what say guys.....do u think avg for next four years 90/ltr is realistic?

[manson]

Originally Posted by mxx

Petrol price in UK is aproximately 93p=0.93GBP=INR.75

starting salary in india is 1,20,000 Rs per annum, and a minimum of 20,000 pounds in Uk which would be arounnd 15-16 lakhs. compare the ratio of per liter of fuel : avg earning of both the countries. The ratio would consider all factors like higher cost of living e.t.c.

its time we got analytical than just looking at mere figures.

manson.