[vnabhi]

Originally Posted by sgiitk

All of a sudden fuel prices cut by ₹1.56 for Petrol and ₹1.41 for Diesel by the OMCs. It is being attributed to something called State Specific Costs (whats that?!). There are also some cuts in LPG cylinder prices (unsubsidized and commercial).

Was there another round of price cut today? Or are you referring to the March 1st one?

[ptaneja]

Originally Posted by vnabhi

Was there another round of price cut today? Or are you referring to the March 1st one?

In the last cut If I remember, Petrol was reduced, whereas Diesel was increased ...

[gm_arun]

Originally Posted by ptaneja

In the last cut If I remember, Petrol was reduced, whereas Diesel was increased ...

It was reduced in UP state alone I guess due to reduction in VAT.

http://english.pradesh18.com/news/ut...re-878457.html

[blacksport]

Originally Posted by gm_arun

due to reduction in VAT.

Funny, they reduce also?

[sgiitk]

The OMCs said 'State Specific Costs' whatever that means? I do not think the VAt has been cut, since it is 'floor' in both cases. Must be some OMC costs.

[vin_b]

May be another round of price revision is around the corner (link)

I hope EC turns OMC down

[AkMar]

Petrol hiked by Rs 3.07 & Diesel by Rs 1.90. News just coming in

[nitinralli]

So it happens again. Diesel up by rs 1.90 and petrol up by rs 3.07 from tonight.

[drmohitg]

How do they justify this differential price hiking? It costs more to produce petrol from crude oil?

[dass]

http://profit.ndtv.com/news/economy/...ome-topstories

I have just given up trying to understand the logic, if there is any.

[Lalvaz]

There is simply no logic. Indian fuel pump prices are amongst the highest in the world. And thats not even accounting for all the rampant adulteration that goes on.

[ptaneja]

When the crude prices goes down worldwide, you go ahead and keep on increasing excise duty, this tax, that tax etc etc, and deny any relief to end users.

Now, since last so many months, the prices in crude has increased just a bit(as per one news article), and they miss no chance in increasing the price .

And I thought the price revision happens just twice a month - but I guess for reducing, it happens bi monthly, but for their good for nothing excuse of increasing the price, it can happen anytime.

I am totally disheartened this time .

[a4anurag]

Petrol, diesel prices hiked; in effect from midnight tonight

Petrol price has been increased by Rs 3.07 per litre. Diesel prices too has been increased by Rs 1.9 per litre

"The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant increase in price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision," IOC said in a statement.

SOURCE: http://auto.economictimes.indiatimes...hiked/51428652

[sgiitk]

Originally Posted by drmohitg

How do they justify this differential price hiking? It costs more to produce petrol from crude oil?

I think the now use the International price parity argument for the fuels

Originally Posted by dass

http://profit.ndtv.com/news/economy/...ome-topstories

I have just given up trying to understand the logic, if there is any.

I think in the fortnight Brent went up fro about $32 to $38 or so. ₹ -> $ has improved marginally.

I saw the media chaps out in force. never saw any when there were (I think) seven petrol price cuts in succession.

I ask a question, LPG subsidy has dropped a lot, a free sale cylinder is now around ₹500, and was ₹800 not so long back. I guess most have not noticed since they are merrily using their subsidized LPG cylinders.

So be prepared for howls when the proposed limit of family income of ₹1,000,000 for subsidy is enforced. We are too used to the DOLE from the maai baap sarkar!

[Spitfire]

Originally Posted by sgiitk

So be prepared for howls when the proposed limit of family income of ₹1,000,000 for subsidy is enforced. We are too used to the DOLE from the maai baap sarkar!

Agree. We are a country of free-loaders. If we get anything free, we will take two of it.

I see parents at McDonalds taking 3-4 balloons when there is only one child. But when they deny, they will threaten the guy there.

Same here - Petrol went from Rs 83 to the 50's over the past few months in Bangalore. Not a murmur then. But Rs 3 and all hell breaks loose.

Government did not decrease the fuel price even though the rates came down only because the Saudi's are playing a dirty game. They want to bankrupt the US and other oil producers by lowering the cost. Once the shale oil guys cannot sustain due to the low price. The Saudi's are going to hit $100 to recover their loss.

Our government is trying to see that when that happens, the un-grateful citizens and media does not get hit by the sudden rise.

Tighten your belts, the days of free doles are getting over. And rightfully so.