[Prasidhi]

Friends,
Is there any site where I can get the historical petrol prices of Bangalore from (2004 onwards)? I have data for diesel as I kept the record every time I filled Diesel in my car. Wanted to publish my data on Petrol Diesel usage and cost comparison in Team-bhp for my car.

[fiat_tarun]

^^ I have the historical prices for the metro cities. It was available on the IOC website. Can't seem to find it now.

[girishglg]

Now the government has another reason for keeping the price of petrol at present levels or even increase it, the culprit this time Rupee Depreciation!

Centre rules out fuel price cut, cites weak rupee - NDTV Profit

However the government at least for now is saying the following on dual pricing of diesel-

"We cannot introduce dual pricing of diesel ... it will lead to lot of abuse in market place." - Jaipal Reddy

Reddy rules out dual pricing of diesel - PTI -

It would be ridiculous to fill the same fuel at one rate by one user and the other at a subsidised cost. A open opportunity for illegal trade!

[SedatedDrive]

Originally Posted by Fordmanchau

BTW, did anyone read this today ?
Oil companies BPCL, HPCL, Indian Oil not ready to pass on benefit of falling crude prices to consumers - The Economic Times

Is the freeing up of oil prices just meant to increase the price? These PSU Oil companies are not willing to pass on the benefit of decrease in oil prices to customers

That's daylight cheating and looting.

Do you know what will happen if the Oil PSUs collapse? If they never break even from say the last 5 operational years?

It will ruin our mixed economy.

[.sushilkumar]

Originally Posted by girishglg

Now the government has another reason for keeping the price of petrol at present levels or even increase it, the culprit this time Rupee Depreciation!

Centre rules out fuel price cut, cites weak rupee - NDTV Profit

However the government at least for now is saying the following on dual pricing of diesel-

"We cannot introduce dual pricing of diesel ... it will lead to lot of abuse in market place." - Jaipal Reddy

Reddy rules out dual pricing of diesel - PTI -

It would be ridiculous to fill the same fuel at one rate by one user and the other at a subsidised cost. A open opportunity for illegal trade!

Well the Plan is to keep the petrol prices high on one pretext or other. if Rupee comes down today , they will find another excuse. where as in actual, contracts to pick a defined quantity of crude is signed at the start of a financial year at fixed rate. usually rupee fluctuations comes into picture in case of spot buys only , which happens only if there is a sudden demand in crude . Still Govt keeps trillions of Dollars as Forex reserves to take care of such fluctuations . moreover All the Asian currencies are going strong against dollar recently , except for rupee . clearly it;s being manipulated for one reason or other.

Originally Posted by SedatedDrive

Do you know what will happen if the Oil PSUs collapse? If they never break even from say the last 5 operational years?

It will ruin our mixed economy.

well, the PSU;s are Already earning decent profits IMO. Govt compensate them in one or other way and at the end of day , they are run by tax payers money. there is a reason why the Executives in these oil companies enjoy a lavish life . if they are in losses why it;s not reflecting in actual .

As for Economy goes, that already in shambles...we all are sitting on a bubble, which may burst any time. what can be said about economy where stock markets go up and down base on hearsay and has highest interest rates against loans.

[faustus77]

Hi everybody.
An eyeopener as to why we have such high prices
10th jan2011 page 15 economic times "is petroleum pricing all gas?"
Part of this article
Salaries at IOC per annum
Casual labourer 15 yrs service rs 8,39,757
Some drivers (some have m.com degree) rs 22 lakhs
Fifth standard caretaker 8,56,731
Officers abov this level minimum 24 lakhs
The icing:Prakash Paswan eigth standard ,senior attendant,joining date 6/3/1976 rs 45,99,234
With these salaries ,very high tax structure and cross subsidizing is it any wonder that in bombay we pay more than 70 per litre
rgds

[RavenAvi]

A simple comparison of retail prices in different countries by converting them to Indian rupee (using the Purchasing Power Parity (PPP) method) reveals that petrol in India is more expensive than 98 other countries.

Also, despite huge subsidies, diesel is more expensive in India than 136 other countries.



For petrol, Indians shell out the most in the world - Times Of India

[scopriobharath]

This is purely because the Indian government will always look for taxing the Indians. There is no benefit or some policy that will really benefit "all classes" of people. Example providing a subsidy to farmer, caters only to Farmer segment. If they reduce tax on petrol, it will cater to all walks of people.

If only the indian government will leave a slack somewhere and not thinking of taxing the overtaxed indian always.

[Hayek]

Originally Posted by RavenAvi

A simple comparison of retail prices in different countries by converting them to Indian rupee (using the Purchasing Power Parity (PPP) method) reveals that petrol in India is more expensive than 98 other countries

For petrol, Indians shell out the most in the world - Times Of India

Sorry to be rude but this reflects a fundamental lack of economic understanding on the part of the journalist who published such bilge. PPP adjusts for the low cost of non tradable services such as drivers and haircuts in poor countries like India. It is a reasonable basis for measuring the size of an economy. But to use it to calculate the prices of traded goods, especially global commodities such as petrol or diesel is plain daft.

[Trust_In_Thrust]

Originally Posted by Hayek

Sorry to be rude but this reflects a fundamental lack of economic understanding on the part of the journalist who published such bilge. PPP adjusts for the low cost of non tradable services such as drivers and haircuts in poor countries like India. It is a reasonable basis for measuring the size of an economy. But to use it to calculate the prices of traded goods, especially global commodities such as petrol or diesel is plain daft.

I think a McDonalds burger can also be made a reference here or a bottle of coke and by that logic we are paying lot more .Also my sister is in US and to her petrol prices do not pinch as much as to us reason is the higher buying power of Us$ vis a vis INR.

[pypkmsrikanth]

I had made an analysis of the trends of both Brent Crude Prices & USD rates. In INR terms the Brent Crude prices have dropped to as low as 17% lesser than the peak prices between May & Oct' 11. The link to the post

http://www.team-bhp.com/forum/indian...ml#post2547478

I am very sure the entire Petrol Pricing is a sham with the OMC's only talking about price rises on account of Increase in Brent Prices, increases in USD rates etc.

[D'Artagnan]

We should start a movement against all the bureaucrats in the industry. This should be started by team bhp members in each city.

[SedatedDrive]

Originally Posted by captain_slow

We should start a movement against all the bureaucrats in the industry. This should be started by team bhp members in each city.

Yes let us bring India to a standstill!

And... Oh! The prices just sky rocketed the next day?!

[ottocycle]

Don't be surprised if petrol prices are hiked again..

Fuel retailers like HPCL pushing for Rs 1.82/litre petrol hike - The Economic Times

NEW DELHI: State-owned oil companies are pressing for a Rs 1.82 per litre increase in petrol prices because of rupee depreciation and hardening of crude oil prices.

Public sector oil firms had in September raised petrol prices by Rs 5 per litre.

"From today, there are some losses on petrol. To cover them, we may have to increase prices," HPCL Director (Finance) B Mukherjee told reporters here.

He said that crude oil is hovering at around $108 per barrel in international markets, while the rupee has depreciated from Rs 46.50 a dollar three months ago to over Rs 49 per dollar now, increasing the cost of oil imports.

Mukherjee said the loss on petrol is currently Rs 1.50 per litre and after including local levies, the desired increase in retail prices is Rs 1.82 per litre.

"We are in discussion with other oil companies on raising prices. Let's say, we are toying with the idea," he said, refusing to say when the country's fuel prices would be raised.

[shashank.nk]

True. Petrol to be hiked again! Just heard it on news. Hike to be Rs. 1.82 making it 77 bucks a litre in bangalore!Whether this government will comback to power or no i cannot predict, but for sure no petrol-head would ever vote for them.