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Old 13th October 2008, 08:36   #16
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i too agree with anil
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Old 13th October 2008, 10:10   #17
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Its always shoots up.
Oil companies are at loss and all that.

Once the price reduce no one cares to bring it down.
As "just" citizens what can we do about this ?
I don't know.

But yeah as you guys said it will drop just before the elections.
All these "wise" politicians think "janatha" are stupid as they are.
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Old 13th October 2008, 11:15   #18
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Quote:
Originally Posted by anilkalvani View Post
the prices of petrol & diesel will fall by Rs. 5 soon.... mark my words, this will happen just before the elections at the centre ... here in india prices are not market driven, they're politically driven!!!
Hoping that the prediction is right!
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Old 13th October 2008, 14:45   #19
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Indias' crude basket is at 85-90 USD per bbl.

The prices we are at was fixed keeping in mind crude asket of 120-130 USD per bbl.


Anil has a valid point. Govt might be just looking for opportune moment to give a substantial price revision
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Old 13th October 2008, 23:21   #20
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Quote:
Originally Posted by aaggoswami View Post
Arguments like
1) Oil companies were running in losses so they are now covering up.
2) Rupee has weakened.
are baseless. Oil companies were never in loss and if they were in loss, why there was no reduction in the taxes on fuel ?
And the point 1 and 2 are dependent : If rupee has weakened, how the oil companies are covering up ?

Basically, its a huge mess and it would take more than 7 incarnations to get to the root of this.
No effect like this in India, and also I read in Times Of India a couple of days ago that fuel prices wont be coming down in recent times.
Oil companies are running in losses.... except the government usually issues 'oil bonds' to help them make up for the subsidy. This in turn helps them overcome the losses they incurr due to the reduced sale price.

The current liquidy cruch faced is due to another two reasons - government not issuing oil bonds recently so the bank has to bear this burden to support the companies in the meantime and due to weakning rupee and the RBI having to stablize the price of rupee; for every dollar it buys to prevent our rupee from crashing too low it takes out the equivalent rupee out of the financial system.
Not to mention the several thousands of crores of farmer loan vaiwer the government has not settled with the banks yet!!

As for the taxes being reduced the govt sees no need to for that since they are being compensated for in the long term anyway and lowering taxes is never a solution!
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Old 16th October 2008, 19:33   #21
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in some US cities it's less than 2.5$ now. we have 2.6. actually i liked it higher when people started dumping their TRUCKS.

make it 37% drop now.
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Old 16th October 2008, 19:34   #22
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I think the Mods should edit this title by adding "Not In India" everytime I see this thread it pains .
OTOH, good for the bhpians and other petrol heads in the US of A
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Old 16th October 2008, 19:37   #23
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So then we see lowering of auto rickshaw and cab charges too if the fuel prices come down?

PS: I am writing from Pluto.
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Old 16th October 2008, 19:38   #24
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TheOne® has informed me that the price of Petrol in Germany has dropped quite a bit. This feels very unfair.
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Old 16th October 2008, 20:17   #25
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The retail prices in India will not come down anytime soon. Moreover, in the next few weeks, 5 states are going for polls and that would give enough indication for the Congress at center to see what mileage they can derive by cutting retail oil prices just before the next general elections.

Everything the politicians do, is for votes, only.
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Old 26th November 2008, 21:35   #26
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last night i saw BJP accusing the govt of promising price reduction in petrol close to election. how does the scene look now?

in US it's down by 60%. How difficult is it for BJP (and the people who listen to them) to understand that the price is actually down in international market.
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Old 26th November 2008, 21:52   #27
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heard they will reduce petrol charge by Rs5(WTH?) .
Isnt it good ,if india sarkar allows each states/private party to get petrol and diesel from gulf and other areas? I already read about ships that sells oils in deep seas in west coast to fisherman and trollers.
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Old 26th November 2008, 21:57   #28
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alright, i posted something in jokes section.
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Old 26th November 2008, 22:19   #29
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I feel we need to wait for thsi year end to see fuel price correction If crude price stays around 55$. Elections going on right now according to rule price cut is not possible, which is not good for public but we have to wait and watch.

I hope at least 5/- price cut they do on Petrol and they might not do much (max 1/-) price cut of Diesel.

Regards,

Ravi.
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Old 26th November 2008, 22:27   #30
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Hang on! The govt still has a few pages left in its excuses book!
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