[sgiitk]

In UP they have started sale of petrol with 5% Ethanol (at least in BS-IV cities). I have a feeling that there is a marginal adverser impact on the fuel consumption. The promised price cut was never seen.

Originally Posted by selfdrive

... give tax exemption on income tax for example.

Why will a neta do that - he is a farmer and pays Zero Income Tax!!

[k149in]

No petrol rate revision this time:

http://profit.ndtv.com/news/industri...=home-business

I guess the market situation is actually better now and govt can reduce the rates, considering a move to lift the festive spirit and goodwill mood at least at this time of the year. However they have chosen to "wait and watch". Irony is, they will not use the same principle "Wait and watch", if the crude goes up or dollar rate goes up.

[sgiitk]

They will drop just before the state polls!!

[volkman10]

Oil companies' Diwali gift: Petrol price may fall by Re 1 - due to a stable rupee and a fall in international crude prices this month.

Cheers!

http://timesofindia.indiatimes.com/b...w/24845013.cms

[sourav9385]

Boooo!

What's to rejoice about a 1 rupee fall in prices? Even if I get a tankful, it still only saves me 60 bucks.
Current crude is at $105 or something per barrel. All oil companies are still losing Rs.10(about?) per liter of Diesel.
IMO, it's high time Diesel prices were revised and normalized a bit. Petrol vehicle owners have been facing the brunt of all kinds of instability the most.

Whatever goes wrong with this country, the politicos scare the living daylights out of the common man by raising petrol prices. Sheesh...

[sgiitk]

Crude is about $110. I have a feeling they are holding back the decrease for nearer the state elections. Parikh recommendation of a one time Rs.5 on Diesel is unlikely but the monthly increase of Re.1 may come through. Depends on how much muscle PC has.

[sgiitk]

Parikh also wants Rs.250 on domestic LPG and 4 on K-oil immediately.

[sgiitk]

Pafikh recommends a one time Rs.4-5 on diesel with monthly Re.1 increments, 250 on a domestic LPG cylinder (also reduce the entitlement from 9 to 6), and 4 on K-oil. I do not thing anything except the Re.1 monthly increase will actually happen.

[dass]

Originally Posted by sgiitk

Pafikh recommends a one time Rs.4-5 on diesel with monthly Re.1 increments, 250 on a domestic LPG cylinder (also reduce the entitlement from 9 to 6), and 4 on K-oil. I do not thing anything except the Re.1 monthly increase will actually happen.

I dont think even the Rs.1 monthly increase will happen anytime soon. With quite a few elections round the corner, I think they wouldnt want to take any undue risk.

[RoadTrippin]

Diesel prices have a significant impact on inflation as increased transportation cost has a ripple effect on the macro economy. With the RBI bringing in measures to control inflation the government is unlikely to trigger diesel price hikes now. Even if they do, it will be marginal.

[sgiitk]

Originally Posted by RoadTrippin

Diesel prices have a significant impact on inflation as increased transportation cost has a ripple effect on the macro economy.

So does high inflation. What is the biggest subsidy - Fuel. Cut down on that and you see the rupee shoot up, and then the positive spiral sets in.

[AbhishekB86]

Another fortnight has come to an end. Rupee has gone stronger from 68 to 61 as compared to the previous petrol price revision. Today the BSE has touched new highs. Any possibility of a reduction by day end today?

[Jignesh]

Originally Posted by AbhishekB86

Rupee has gone stronger from 68 to 61 as compared to the previous petrol price revision. Today the BSE has touched new highs. Any possibility of a reduction by day end today?

In my opinion - the answer would be definite YES.

Apart from Rupee going stronger the Crude prices has also weakened to four month low (Source: http://online.wsj.com/article/BT-CO-...30-713579.html). The main reason for falling crude prices is huge stocks of Crude Oil.

Anyways coming back to India, I believe Petrol prices will be reduced by atleast Rs. 2 with effect from midnight tonight. Also the scheduled increase of 0.50 paise per liter on Diesel prices may not be followed due to political compulsions.

Thanks,

[skyfire2892]

Petrol prices cut by Rs 1.15
Diesel increased by Rs 0.5
Source: TOI

[el lobo 6061]

Petrol price reduced by Rs. 1.15
Diesel price increased by Rs. 0.5.

Source : The Hindu

A welcome move reduction on petrol price and GOI finally also increased diesel prices by Rs. 0.5 .

Originally Posted by skyfire2892

Petrol prices cut by Rs 1.5
Source: TOI

Petrol actually got a cut of Rs. 1.15 instead of Rs. 1.5