[libranof1987]

Looks like time is running out for diesel, LPG and kerosene.

Panel on fuel price hike to meet shortly:Reddy - The Economic Times

The Oil Minister wants to have a meeting to raise prices of these.

[centaur]

Raising petrol prices would actually drive more people towards diesel cars because of which the Gov will increase the price of diesel which would inturn increase the price of everything available around. Recently read an article on autos.in.msn.com where in they have said that petrol powered cars are finding no buyers in the seconds market even if they are being given with huge discounts as people are only and only interested in getting diesel cars. Looking at all this a hike, that too a probably a steep one, in diesel prices seem inevitable. Lets brace increased monthly budgets for running our homes.

[josejoseph]

Here is a screen-shot of an article that appeared in last week's Malayalam daily showing the hike of petrol and diesel in the last 20 years.



With regards,
Jose.

[BulZire]

Looking at the chart i feel like,

why i did not have my present age in 1991
Why i did not have my current rides in 1991

[vina]

Originally Posted by BulZire

Looking at the chart i feel like,

why i did not have my present age in 1991
Why i did not have my current rides in 1991

Add to that:

why I didn't have the present highways in 1991



add a few more questions like this, go back to 1991. If God grants your wish you'll be asking the same questions (but 91 becomes 71)

[Gansan]

The income too would not have been the same in 1991, so more or less status quo would have prevailed!

[BulZire]

Originally Posted by vina

Add to that:

why I didn't have the present highways in 1991



add a few more questions like this, go back to 1991. If God grants your wish you'll be asking the same questions (but 91 becomes 71)

The chart starts only from 1991, So my why's also starts from it.
If the chart starts from 1971 then obviously my why's also will start from 1971

Place: PONDICHERRY
Bunk Name: Aurobindo Ashram BP pump
Bunk Type: PSU
Normal Petrol Price (Rs/l): 61.49. Perhaps, the cheapest in India?
Date of Filling: 21 June 2011

[RavenAvi]

Next month, a group of ministers headed by Finance Minister, Pranab Mukherjee, will sit down to discuss the combination of a price hike and a reduction in government duties.

Source - Rediff news (Another fuel price hike? Decision tomorrow - Rediff.com Business)

Highlights -

The Oil Ministry is pushing for the burden arising from the rise in crude oil prices to be equitably shared between consumers, the government and state-owned companies.

State-owned oil firms currently lose Rs 15.44 per litre on the sale of diesel.
One-third of this will have to be passed on to consumers in stages, while a similar amount will have to be borne by the government by way of either providing a cash subsidy or reducing customs and excise duty.


The remaining would be absorbed by upstream firms like ONGC and the fuel retailers.

With inflation at an uncomfortable 9 per cent, a hike in the retail price of diesel should be kept to the bare minimum, the official said.
Without these measures, Indian Oil, Hindustan Petroleum and Bharat Petroleum are together projected to lose Rs 166,712 crore (Rs 1,667.12 billion) in revenues on selling diesel, domestic LPG and kerosene rates at government-controlled rates, which are way below the market price.

Oil firms, which last month hiked petrol price by a steep Rs 5 per litre, are losing Rs 1.98 a litre on a commodity which was freed from government control last June.

The official said IOC, BPCL and HPCL currently lose about Rs 490 crore (Rs 4.9 billion) per day on fuel sales.


The official said Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited are virtually living off borrowed money as current realisation on fuel sales is not sufficient to meet the cost of importing raw material (crude oil).

The Oil Ministry has been pushing for an increase in diesel, domestic LPG and kerosene rates and wants the government to muster the political will to take the hard decision.

[DicKy]

Happy news motorists, the dear government has decided that India is so much developed infrastructurally and everyone has car,so it's deemed necessary to again increase the petrol prices.

[lohithrao]

WOw such a great news to end the week govt is bent upon getting the petrol price touch/cross 100 mark ...

Originally Posted by DicKy

Happy news motorists, the dear government has decided that India is so much developed infrastructurally and everyone has car,so it's deemed necessary to again increase the petrol prices.

[mjothi]

I thought the discussion is only for the Diesel & LPG prices. Right? or one more hike for Petrol too.

[sgiitk]

Originally Posted by DicKy

Happy news motorists, the dear government has decided that India is so much developed infrastructurally and everyone has car,so it's deemed necessary to again increase the petrol prices.

A bit prescient shall we say. I will not be surprised, but afaik the meeting is only at 13:00!

[ravib]

Come on.... Govt is trying hard to score a century for petrol prices in quickest possible time before next elections....

These days, fuel price hike is not a once/twice a year change. Its monthly/weekly change.

-Ravi

[libranof1987]

Looks like the diesel hike is imminent :

Panel to consider hike in diesel, cooking gas prices today - The Times of India

The quantum expected is a modest Rs. 2-3 (Modest, comparing it to the petrol hikes!). No mention of petrol, thankfully!