[jagan0677]

Originally Posted by BulZire

Petroleum companies are gearing up for another price hike of Petrol. On May 15 the petrol price was hiked to Rs 5 per liter. This time the hike will be Rs. 1.30 per liter and it will be effective from tomorrow

Is this confirmed news yet? I am not so sure this is confirmed as of now.

Cheers,
Jagan.

[BulZire]

I got to read it in a daily Tamil magazine today. Hopefully it is true, I will try to get the link.

[bluevolt]

Originally Posted by jagan0677

Is this confirmed news yet? I am not so sure this is confirmed as of now.

Cheers,
Jagan.

It is confirmed. Here is the link for the news IOC to hike petrol prices from June 1 - Full News

http://www.indiancarsbikes.in/auto-n...re-hike-42765/

[mjothi]

Originally Posted by BulZire

I got to read it in a daily Tamil magazine today. Hopefully it is true, I will try to get the link.

petrol price hike once again | ???????? ????????? ???????? ????... : ??????????? ??.1.35 ?????????? Dinamalar

This one?

Man, where are we heading to?

There should be a movement like the one for Lokpal bill... Public should demand Govt to show the tax portion clearly on the fuel and also make govt file RETURNS every year!!!

[mmxylorider]

Read the same headlines on the Pune edition of TOI. Is this hike specific to IOC? Not that I fill from IOC pumps but I will expect the other PSU oil companies to follow soon...

[sgiitk]

Originally Posted by vina

why do you say that the kerosene sales will plummet?

You want me to be explicit, so here I go. The bulk of the PDS Kerosene ends up in Diesel! Depending on who you beleive something between 35% and 93& of PDS kerosene is used for adulteration. Nepal stopped the subsidy on K-oil. Kerosene sales dropped by c.60% and Diesel sales went up by c.30%. The linkage is obvious.

Also, now petrol is costlier that ATF!

Jet fuel is cheaper than petrol now - The Economic Times

[Gansan]

Originally Posted by sgiitk

Also, now petrol is costlier that ATF!

Isn't ATF itself a highly purified form of Kerosene?

[BulZire]

Originally Posted by mjothi

petrol price hike once again | ???????? ????????? ???????? ????... : ??????????? ??.1.35 ?????????? Dinamalar

This one?

Man, where are we heading to?

There should be a movement like the one for Lokpal bill... Public should demand Govt to show the tax portion clearly on the fuel and also make govt file RETURNS every year!!!

That is the link, rightly shared

[sgiitk]

Originally Posted by Gansan

Isn't ATF itself a highly purified form of Kerosene?

Yes it is exactly that. I am not sure every about purified. However, it must be more thoroughly tested, and specified.

[partha379]

Mods: Please remove this post if you feel its OT.

Given that ONGC and OMCs are publicly traded, isn't there a corporate governance issue with the way subsidies are handled? The Govt as a major shareholder in OMCs, ONGC is hurting the minority shareholder by "controlling" the prices in a way where no one is clear about whats happening? Can we do anything by using minority shareholder right?

For e.g should ONGC be forced to sell at a lesser price to the OMCs? Should the OMCs be forced to sell at a price where they lose money (the main reason given for the price increases) thus hurting the minority shareholders? The Govt happily plays multiple roles here and taking everyone for a ride.

There was a huge issue when Maruti increased the licensing rates paid to Suzuki claiming that there is a conflict of interest as Suzuki is a majority shareholder in MSIL and its taking out money from MSIL. Isn't the same happening here?

At the end of day the we suffer - either as a shareholder or as a tax payer who has to bear the subsidy !!.

[libranof1987]

TA-DAAAAA!

PSUs may hike petrol price by Rs 0.50 per litre from June 16 - The Economic Times

Petrol to go up again.

Shell must be smiling away to glory right now!

[RS_DEL]

Originally Posted by partha379

Mods: Please remove this post if you feel its OT.

Given that ONGC and OMCs are publicly traded, isn't there a corporate governance issue with the way subsidies are handled? one is clear about whats happening? Can we do anything by using minority shareholder right?

For e.g should ONGC be forced to sell at a lesser price to the OMCs?
At the end of day the we suffer - either as a shareholder or as a tax payer who has to bear the subsidy !!.

* The entire rigmarole in energy pricing in India is under the auspices of the APM even though the APM is supposed to have been disbanded almost a decade back. Check this link or a brief cursory description. The APM in the POL sector is there for the greater public good, or so they say. Try challenging it in court and you are probably going to be ticked off by the courts for attempting to engage in frivolous litigation.

* As far as your rights as a minority stock holder are concerned they can not be assumed to have supremacy over the greater public good, which the truncated APM is "supposed" to protect. Even if you can prove in a satisfactory and credible manner that you have been caused material harm/losses as a minority stakeholder - the response you will get is (a) you are free to sell off your PSU OMC investments if you feel your rights are not being protected and (b) I am going out on a limb here and I may well be wrong ,something similar to the concept of "EMINENT DOMAIN" will be invoked to justify the acts of these corporations as being there for the greater good.

As an aside I really can not understand why would anyone want to be invested in a business where the fortunes of the company are in the hands of a couple of babus and netas? They make damn good punting vehicles. Use them as such. If you do not like to punt , go to corporations which have a franchise in their respective businesses which is strong enough to ensure their continued prosperity for the foreseeable future.

[shankar.balan]

i shall again re-submit this view

if we are one country then why cant we have one price for all Fuels across India?
Why should the Union territories benefit from lower prices?

If the rationale for differential pricing is "distance inland from nearest port" then New Delhi / NCR should be paying the price accordingly!

If we can have an MRP law in India for pretty much all other product categories then why not for Fuel and Vehicles too? Why should we allow each state to levy whatever tax it wants on new vehicles and on Fuel as well? After all, if we are indeed one country, people should be allowed to freely migrate within the sovereign state of India with their vehicles without being subjected to the kind of harassment that is currently the case!

Our policies are rubbish and not at all friendly to the common bloke on the street.

Basically I think we may need a revolution - the more bl**dy it is the better - in terms of shedding the bl**d of all these nasty netas and corrupt bureaucrats. Else, it might be a good idea to submit to Army Rule for around 15 years to clean up the country.

[libranof1987]

Originally Posted by shankar.balan

If the rationale for differential pricing is "distance inland from nearest port" then New Delhi / NCR should be paying the price accordingly!

If we can have an MRP law in India for pretty much all other product categories then why not for Fuel and Vehicles too? Why should we allow each state to levy whatever tax it wants on new vehicles and on Fuel as well?

The most important factor affecting the fuel price is the state taxes, city octroi, right?

And you can't really expect all states/cities to enforce similar octroi and taxes; they all have their own budget provisions.

All the states themselves will be competing with each other to lure investments and they are bound to lower taxes and offer incentives. Eg. what Gujarat Govt. did for Tata Nano.

If every state is going to be governed independently, they are bound to have their own rules. So, there will be price disparity.

PS : There are so many products, especially diary products, which have X price for that city and X+1 for outside that city.

Place: BANGALORE
Bunk Name: HP
Bunk Type: PSU
Normal Petrol Price (Rs/l): 71.09
Date of Filling: 10 June 2011

Place: Chinnar@NH 7 Tamil Nadu [Between Hosur&Krishnagiri]
Bunk Name: BP COCO retail outlet
Bunk Type: PSU
Normal Petrol Price (Rs/l): 67.58
Date of Filling: 11/12 June 2011

Place: Vedal@NH4 Tamil Nadu [Between Chennai&Kanchipuram]
Bunk Name: BP COCO retail outlet
Bunk Type: PSU
Normal Petrol Price (Rs/l): 66.88
Date of Filling: 12 June 2011