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Old 3rd June 2008, 17:18   #466
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What is the source for this news?
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Old 3rd June 2008, 17:19   #467
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Too late! I tried to fillerup this morning at the IOC company-owned outlet at Madhapur, but they had only premium petrol, and were rationing it--max Rs 500 per car.
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Old 3rd June 2008, 17:26   #468
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The reason that the price is higher in Bangalore is also due to infrastructure cess which is an additional burden for the worst possible infrastructure that is available. This has been collected for years now and its sad that we Bangaloreans are ignorant and keep quiet about it.
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Old 3rd June 2008, 17:32   #469
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The news last I heard was only of proposals to raise it.

*Proposal*
Petrol - 10Rs
Diesel - 5Rs
Gas Cylinder - 50Rs

I dont think they have decided to raise it that quickly.
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Old 3rd June 2008, 17:35   #470
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Quote:
Originally Posted by IronWolf View Post
The news last I heard was only of proposals to raise it.

*Proposal*
Petrol - 10Rs
Diesel - 5Rs
Gas Cylinder - 50Rs

I dont think they have decided to raise it that quickly.
This is a trick played by the Government. *They mentally prepare the people to face a greater shock*. Once prepared they rise it by relatively smaller amount to face less hatred from the public. Just a business trick thats it.
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Old 3rd June 2008, 17:49   #471
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Old hat: http://ppac.org.in/OPM/Sales_tax_apr08.htm
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Old 3rd June 2008, 17:54   #472
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Quote:
Originally Posted by zaks View Post
If we take the US prices as indicative of competitively sold oil then the cost comes to about Rs40/ltr. So when we pay Rs55/lt for petrol and Rs 35/lt for diesel (both cost the same actually in intl market) we are actually paying more than the international prevailing rates, so there is no bleeding hand here. The perception of loss is created just because the govt spends the more than half of the oil money it gets on public/govt expenditure.
US or Saudi prices cannot be taken as basis for oil prices. US virtually owns all of gulf oil (except Irans). It is also a big enough producer itself (and buys from Mexico as well). Plus they also have huge deposits of oil sands. Until now they have been drinking all the gulf oil and from Mexico. But now that crude costs upwards of 100 a barrel, they can go for large scale extraction from oil sands (which will cost around 30-40 a barrel so substantially cheaper). Source: Wiki
Unfortunately India has no known big oil deposits so we will have to depend on imports. It doesnt look good in future really as we will have to be totally dependent on nations like saudi or iran or other african nations for our energy requirements. why the hell do we have so many people in india :(
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Old 3rd June 2008, 17:57   #473
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Not many people know that Crude is taxed so heavily in our country.. I would have had no problems if it were being used for nation building than on politico kid studying abroad and driving exotic cars.
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Old 3rd June 2008, 18:43   #474
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Source?

Last I read was PMO to take final decision on Thursday. They are to discuss the proposed hike with coalition constituents.
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Old 3rd June 2008, 18:48   #475
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Please confirm source. I couldnt find this news elsewhere.
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Old 3rd June 2008, 18:49   #476
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What is the source pingpong? Even rediff doesnt say anything as of now.

Abhi
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Old 3rd June 2008, 18:54   #477
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There seems to be no valid source for the info given by pingping.

Mods: Do we still need this thread?
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Old 3rd June 2008, 18:56   #478
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It may be true. Heard in TV News (Sun)
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Old 3rd June 2008, 18:58   #479
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Quote:
Originally Posted by vnabhi View Post
Too late! I tried to fillerup this morning at the IOC company-owned outlet at Madhapur, but they had only premium petrol, and were rationing it--max Rs 500 per car.

This type of behavior is the worst possible thing. How can they decide what it is the best for us ? Nothing but this is becoming dictatorship.
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Old 3rd June 2008, 19:18   #480
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This suspense is going on for sometime now....don't know finally how much it would be increased!

Lets hope for the best!
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