[Max]

Originally Posted by coolkid

it will soon go high.... now that their refinery caught fire. there is going to be a fifty percent shortage in production and the unit is going to be shut down for two weeks. It may extend upto two months also.

No it won't happen. Refinery is full insured (no real losses) and that is going to effect supply of LPG cylinders and not petrol.

[vahss_11]

They have reduced LPG prices by shocking 3 rupees !!!!!! even after the fire at ther jamnagar plant,,,, now lpg is for 24.07 rupees!!!!! its damn good bet guys!

[Raajiv]

SupremeBaleno,

Yes it is not under chennai city limits.But anyway,it is in a good highway that is more frequently used by chennaites.Real estate,hmm i think reliance would not mind that but they have come to know the real potential that is to be tapped in indian highways.I mean the A1 plaza's but this bunk does not have one.

[abhijit 2284]

i feel reliance was more affected due to the goverments decision of not awarding any subsidy to private oil companies .

the goverment had indicated that they were positively thinking of giving subsidy but later decided not to .

since reliance did not get any subsidy they were compelled to sell at higher rates and since then the international rates of crude have marginally reduced enabling them to sell at a comparable rate.

although i also feel that they have done some rate ratnalisation and reduced their margins

[rahul_intlad]

Govt may reduce fuel price if oil falls below $52 a barrel


From:
http://www.thehindubusinessline.com/...s/14071806.htm

[kailashnj]

In India I think the fuel prices would never come down as it is only monitored by govt and the officials are corrupt who instead of reducing the fuel prices may find a way to say that we are only recovering losses that we have incurred due to subsidiaries given to us.

[esteem_lover]

i read in the papers that the govt is considering lowering the fuel prices. maybe good news is just around the corner

[supremeBaleno]

Reduction is only if price per barrel falls below 52$. Knowing Chidambaram, oil prices will not go this low, in all probability.

[Max]

Originally Posted by rahul_intlad

Govt may reduce fuel price if oil falls below $52 a barrel


From:
http://www.thehindubusinessline.com/...s/14071806.htm

this will never happen. forget about the petrol price cuts. Our ministers are smart enough to steel our money and pass it to hungry corporates and there is no major election recently. Crude oil prices have came down more then 22% internationally but hey who cares in India where murderers also get away easily.

[lurker]

What happens in India where only 2% of the population pays Income Tax is that Petroleum Revenue is used for cutting down on 'Revenue Deficit' !!

So more the Revenue Deficit and the inflationary pressure, the more the temptation on the Central Govt to inflate oil prices to ease out the inflationary pressure.

Then there has also been an unusual hike in the money supply (M3) in the economy wherein in the past year itself the Central bank has printed currency to the tune of 77,000 Crore and the total currency in circulation was around 312,000 crores. This has to be seen in light of increasing loans being granted for housing, infra and other purposes. But this also creates enormous inflationary pressure on the economy so what better a way to suck back those inflationary pressures than a high fuel price.

Don't believe the Petroleum Minister for a moment on whatsoever he says.

[sreenivass]

Guys

I am not sure if this is the relevant thread for the question, but does any one have a link to reliance outlet locator on web.

[Vgargcnb]

We should not blame Reliance for the increase in prices. The government duties etc account for around 46%-56% of the fuel price. The government, though announcing the free pricing mechanism earlier, continues to subsidize state oil companies like BPCL, IOC etc., while Reliance does not get those subsidies. They ahd asked the government to treat them at par with the PSUs but the government refused.
Reliance had to take a hit on every litre of petrol & diesel if it sold at the prices set by the goverment, & indirectly subsidised for the PSUs

The private companies had come into the retail foray mainly because the government had dismantled the APM(Administered Price Mechanism) to allow the market to set oil prices freely.
But in reality, to keep domestic prices in check and control oil fuelled inflation, that still provide subsidies to PSUs.

But even this story has 2 aspects. One, is that as global crude prices move up, the refiners earn more & the retailers earn less if they are unable to increase prices.
So on one hand, though Reliance will earn a bit more due to increased crude prices, they will lose on every litre sold if they are unable to match PSU prices, that are artificially kept down by the government.

Certainly, government will have to look at reducing the abnormally high taxes from fuel to bring stability in this market.

[caliper]

I don't think this seems to be the case anymore. Reliance seems to again be more expensive than the other petrol pumps. Diesel was about 30.42 the other day while it was 29.50 or so at Indian Oil.

Given this, is it worth it to go to Reliance pumps? Is the adulteration factor truly nil for petrol and diesel at Reliance?

[n_aditya]

Originally Posted by caliper

I don't think this seems to be the case anymore. Reliance seems to again be more expensive than the other petrol pumps.

i drove down to Blore few weeks back and every Reliance bunk i stopped at was selling petrol for a ruppee or two more than other bunks.

[swathyd]

yes it is right the petrol costs more than 48 rs and diesel 36 rs.