[saket77]

Refilled today. The price of petrol is 0.90 down from earlier and diesel, for some reason, remains untouched.

[S.MJet]

Originally Posted by saket77

Refilled today. The price of petrol is 0.90 down from earlier and diesel, for some reason, remains untouched.

Yes, Govt has instructed OMCs not to raise diesel prices till elections.

This decision of Govt has blown into a controversy & has gone to election commission for review.

[sgiitk]

Also looking at the 5% or so drop in ATF announced today I think the drop in petrol is puny.

Originally Posted by Baddychat

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

I think the dinosaurs are either hauled up, or pensioned off. I guess RIL is making fuels to the highest specs (else they cannot export). Remember they buy the dirtiest crude from the free market.

[SR71A]

Actually the Crude indices are only an indicator of where Diesel or petrol prices will move. Actual prices are decided on the PLatts Fortnightly average of each Fuel. So for example even if Price of CRude is going down, but if due to some reason price of Petrol only is up and the same is reflected in PLatts Arab Gulf averages then prices of petrol will go up. PLatts is a respected company that provides data on Fuel prices, supplies etc globally.

[sgiitk]

@SR71A; Agreed, but the Brent prices are still a good guide. I take ATF prices (being free of politics) as an excellent flag.

[MaxTorque]

There are reports suggesting that oil marketing companies may scrap the monthly price revision of diesel.

The petroleum ministry had justified its decision to withhold the price hike of 50 paise a litre in April on grounds that losses on the sale of the fuel had fallen to less than Rs. 6 a litre and there was no need to increase rates since an expert committee headed by Kirit Parikh had suggested that the government should provide a subsidy of Rs. 6 a litre on diesel.


Good news.

Source

[sgiitk]

Originally Posted by MaxTorque

There are reports suggesting that oil marketing companies may scrap the monthly price revision of diesel.

The petroleum ministry had justified its decision to withhold the price hike of 50 paise a litre in April on grounds that losses on the sale of the fuel had fallen to less than Rs. 6 a litre and there was no need to increase rates since an expert committee headed by Kirit Parikh had suggested that the government should provide a subsidy of Rs. 6 a litre on diesel.

Rubbish, blah blah ... The deal was 0.50 per month until losses are wiped out!

[sgiitk]

Now another election stunt
http://economictimes.indiatimes.com/...w/33741386.cms

[saket77]

Originally Posted by sgiitk

Now another election stunt
http://economictimes.indiatimes.com/...w/33741386.cms

True. Else the 50p increase in diesel prices would have not been put on hold. There was a good scope for a fair cut in the petrol prices during the last few fortnights but that did not happen. We can safely say that petrol prices are still not deregulated (either in case of increase or decrease) and for diesel it is a distant dream.

[sgiitk]

Originally Posted by sgiitk

Now another election stunt
http://economictimes.indiatimes.com/...w/33741386.cms

Now let us see, with Brent flirting with $109 and the Rupee also dropping, albeit mildly.

[iliketurtles]

Petrol prices cut by 70 paise per litre with effect from midnight tonight. Diesel is untouched.

Link to an article on it.

[sgiitk]

They must be really desperate. Let me repeat / add, Brent $109+, $ hardening (and expected to continue doing so), interest rate cuts in the offing to stimulate the economy, I see no logic.

[manas27587]

Originally Posted by sgiitk

They must be really desperate. Let me repeat / add, Brent $109+, $ hardening (and expected to continue doing so), interest rate cuts in the offing to stimulate the economy, I see no logic.

You forgot the biggest logic "Elections"

[Desi Dybuk]

Do the politicians really think that the general public is going to be swayed by minor changes in fuel prices? I think the smartest decision which the government did was to gently raise the price of diesel by 50p every month.

The public is now used to it. Earlier, the prices would be hiked by 2-3 rupees & all hell would break loose in the media & among public!

Originally Posted by manas27587

You forgot the biggest logic "Elections"

[MaxTorque]

And the fuel price increase is back. The diesel prices have been increased by Rs.1.09. It is excluding the local taxes.

Source:- Ndtv Profit