[gsurya]

Oil companies do their retail pricing based on futures, not so much on current basket prices. It takes months from when imported crude enters India, to being refined & then being filled up in a car - so its not a direct calculation.

And as it looks, due to Ukraine, Syria & US economic recovery the oil prices are on upward trend for the next few weeks.

[sgiitk]

Originally Posted by crazyro

The price had touched $107.84 on 19th Feb

Brent is the proper guideline, and not NYMEX.

[sumeethaldankar]

CNG may be hiked in april.

http://indiatoday.intoday.in/story/c.../1/336079.html

[sgiitk]

Some real hope on Petrol soon

http://www.moneycontrol.com/news/eco...e_1054900.html

If Diesel losses are down to 7.16 then ..... (fingers and toes crossed)

[sgiitk]

With the rupee solidly in the sub-61 region any Brent also around $107 the hope is even stronger.

[MaxTorque]

There are reports suggesting that from 1st April the price of petrol will be revised downwards (Rs.1.25/ltr) while diesel price will be revised upwards (Rs.50). But they should get election commission's node for the same.

[S_U_N]

Yay! It is time to rejoice. The actual cuts should be around Rs. 1.5 to Rs. 1.75 I suppose.
The Rupee has been consistent around Rs. 61.
I hope EC has no issues with this price reduction. If the Central Govt. is hoping that this move will give them more votes, then they are considering the common man to be incredibly stupid.

[hrman]

Originally Posted by MaxTorque

There are reports suggesting that from 1st April the price of petrol will be revised downwards (Rs.1.25/ltr) while diesel price will be revised upwards (Rs.50). But they should get election commission's node for the same.

I hope it is not a hike of Rs.50 in diesel. Maruti and all other players will go out of business!!

On a serious note, its about time the prices for petrol were reduced. Hope its not a pre-election gimmick, which we have become so used to by now..

[sgiitk]

Originally Posted by S_U_N

f the Central Govt. is hoping that this move will give them more votes, then they are considering the common man to be incredibly stupid.

Any doubts. Now they want to tax 24x7 power ad clean railway carriages as a privilege! We will get the tax but as for delivery ... ??

[sandeep108]

If petrol is truly de-regulated then prices should be cut quite a bit more. INR-$ was Rs. 66-67, today it is Rs. 60-61. Crude prices have nowhere risen at all in the last few months, in fact they have been on declining trend or flat. On the exchange rate alone, petrol price should be cut minimum Rs. 7-8 per litre. But they will give us peanuts Re 1/- reduction.

[sourav9385]

Expecting our neta's & oil co's to reduce the price of petrol by any credible amount, is akin to expecting snowfall in Chennai, or a flood in the Atacama desert. One word. Impossible.

Even if it does happen, it will be with an ulterior motive to gain support of the masses. And still, the reduction won't be making any sense. NaMo will resort to mud slinging on RaGa, citing foul play and criticising the govt for whatever reason. Mango people party will run around waving their arms in their air, taking a bath in some holy river, and probably doing some dharna/road roko nonsese crippling everyone elses lives around them.

Probably we can get a 50 paise reduction. Which means I'm 30 bucks in the black, the next time I tank up my car with 60 litres. Awesome.

[MaxTorque]

The fuel price cut has been announced. Petrol price cut by Rs.0.75 while diesel price has been kept unchanged.

[lapis_lazuli]

So, less than a rupee in all, is the reduction in petrol price! Has it really got anything to do with the dollar exchange rate? I doubt...Some actions leave no room for sarcasm even, ! Not quite sure if post elections, things would get any better but would there be any further revision in prices till a new government takes office?

[sgiitk]

Originally Posted by MaxTorque

The fuel price cut has been announced. Petrol price cut by Rs.0.75 while diesel price has been kept unchanged.

A new gimmick. The cut (and increase) are ex-refinery. The impact in Kanpur is Petrol down 0.93 to 79039 and Diesel up 0.01 to 60.20. Excuse on Diesel is that they are asking the EC, even though I think it has been said by the EC that the 0.50 price hike in Diesel should be continued. Is it a matter of 'bakre ki amma, kab tak khair manayegi'.

[Baddychat]

Found this article today on Mint

http://www.livemint.com/Industry/Xgd...recommend.html

India may upgrade fuel emission standards by 2021 which in turn would mean upgrading refining facilities!