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Old 28th October 2008, 22:21   #61
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I seriously thought that the government would announce a drop in prices this week.
I've been putting off tanking up my car for the last couple of days hoping for the same.
Will they reduce prices this week?
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Old 29th October 2008, 13:08   #62
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I do not see the fuel price falling below $60 per barrel and might well hover around $75 in the next few months with Opec cutting down production and the markets starting to stabilise. Anything above $66 per barrel will make it difficult for the ministry to bring down the prices as it will not be viable though the impending elections will have a say in this.

What I feel is the government might eventually bring the prices down a bit just before the election campaigns start....only to raise it back again once seated in the Lok Sabha for a further period of 5 years after the elections .
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Old 29th October 2008, 13:32   #63
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The govt should reduce that excise duty. This is nonsense.
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Old 30th October 2008, 17:30   #64
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For all it is worth, US average regular gasoline prices are now US$2.66 per gallon or 70.3 cents per litre. Diesel averages 3.29/gallon or 87 cents per litre.
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Old 30th October 2008, 20:18   #65
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Quote:
Originally Posted by snaronikar View Post
A common man doesn't understand this calculations. What they see is the crude price coming down and they want the price of petrol/diesel to come down.
I think you also need to consider that the price of crude went up from 60 to 147 $ per barrel but the price of petrol went up only by Rs 5. As a result, the oil cos suffered a huge loss and the government doled out huge amounts of oil bonds, which we will be paying for in the years to come.

I doubt there is much of a case for prices to come down anytime soon.
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Old 30th October 2008, 20:31   #66
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No price cut for now

The Tribune, Chandigarh, India - Main News
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Old 30th October 2008, 20:34   #67
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Some food for thought:

BBC NEWS | Business | What is going on in the oil market?
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Old 30th October 2008, 20:51   #68
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no fuel price cut as of now. it will only get costlier.
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