[ravib]

Originally Posted by Gansan

This is all hogwash! Just to make you feel grateful for a Rs 3.00 hike, which will be the intention all along.

+1. I completely agree. Its like hiking the price and giving a discount. In any calculation, hike is a hike...no matter what, its going to impact everyone in all possible ways.

-Ravi

[centaur]

The newpapers also said that international oil prices had come down below $100 a barrel post the osama killing news. these things done seem to gel together - I mean on one side international oil prices are down and other the other side oil companies ask for a hike citing that they are having losses.

[Neilguy]

Originally Posted by centaur

The newpapers also said that international oil prices had come down below $100 a barrel post the osama killing news. these things done seem to gel together - I mean on one side international oil prices are down and other the other side oil companies ask for a hike citing that they are having losses.

The current petrol/diesel prices in India were set when the international crude oil prices were around $78.

So when the international price is around $100, surely the oil companies still "need" a hike in prices, even though international prices have relatively come down from $130 to around $100.

[bzr77k]

Originally Posted by Neilguy

The current petrol/diesel prices in India were set when the international crude oil prices were around $78.

So when the international price is around $100, surely the oil companies still "need" a hike in prices, even though international prices have relatively come down from $130 to around $100.

And add to it the losses they have booked when the prices were higher! From a pure business sense, they would have to increase prices

[joecherian]

finally, it has happened. Petrol price to go up by Rs 5 tonight..

[Turbanator]

So the news is out. Petrol is going to be expensive by rs 5 from tonight ,, don't know yet why have they spared Diesel

[libranof1987]

TOI is still showing it as "Breaking News".

Ah! 5 bucks! That is going to pinch real bad.

This happens to be the 9th hike in 9 months. So, petrol crosses the 70-mark barrier in Bangalore.

Wonder where Shell is headed.

[ani_meher]

I don't see any such news on any website. Can you pls point the source?

EDIT: Got the news. Filled up the bike by 800 bucks worth of petrol, which would have taken 850-870 tomorrow. Thanks Turbanator!

[agspins]

So the Petrol prices around my place will go to Rs.71.40 from 66.40.

[ph03n!x]

Originally Posted by ani_meher

I don't see any such news on any website. Can you pls point the source?

Petrol price to go up by Rs 5 per litre from midnight - The Times of India

Petrol price to go up by Rs 5 per litre

Gujarat | DeshGujarat.Com » Archives » Petrol dearer by about Rs. five per litre from midnight

[ph03n!x]

Originally Posted by libranof1987

Wonder where Shell is headed.

Shell is already there - they do it as and when the crude goes up. No wait-for-election-results, and no 5-bucks-at-a-time hike. Incremental, then and there

[nitrous]

Revenge of the congress?
Fuel Prices in the UK have actually gone down, in the past week.

[misquitas]

In the PTI report, this is what an 'industry official' had to say: "The hike needed to make domestic rates at par with international prices was Rs. 9.50-10 per litre but oil companies choose to hike rates by just half of that," an industry official said. "Another hike in petrol price is on cards soon."

Just what are these international prices that everyone seems to talk about? It seems to vary from country to country, with Gulf countries (I would assume) paying the lowest. Also, as far as I know, heavy taxes are being levied on petrol, which makes it expensive.

At this point, my I10 may end up spending more time in the garage than on the road and I don't know whom to curse for this, the government or the oil companies...or my decision to buy the I10.

[n.devdath]

Here is the link to the Hindu article on the hike.The Hindu : Business News : Petrol price up by Rs. 5

I fail to understand the reasoning behind it when world crude is dropping. Moreover, inspite of showing losses, the employees of petro Cos are amongst the highest paid and incremented.

[download2live]

Wow. Now it will touch around Rs 70 a liter in Bangalore. A nice twisted way of curbing the traffic on Roads. Are we such fools that petrol price hike before or after elections makes a difference. Does this makes people vote this way or that way? And not the long term policies of the leaders? If it is so then we Indians deserve every rupee of this hike.

Diesel cars are so much going to be in demand.