The Official Fuel Prices Thread

[balajisv]

Originally Posted by Spitfire

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.

Well said. Most of the people are far too short sighted to understand the benefits/impacts of a certain decision of a govt organization IMO.

BTW, I feel the current hike of 3 rupees for petrol was not warranted. Maybe 1-1.5 should have been good.

[Annibaddh]

Originally Posted by Spitfire

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.

Haha, well we are a country that definitely does not like money going out of our pockets. But on the Saudi bit, the little I have read and the evident would corroborate that logic, it's the Americans who have all the interest in keeping Oil abysmally low. And everything from geopolitics to economics points this to be advantageous for the US.

1. Shale-Oil: Shale oil unlike traditional oilfields are Turn-Tap fields. Basically you can shut down production at a whim and start again anytime you want without humongous costs. Traditional Oil-Fields (which Saudi, Iran and lo and behold ISIS is completely invested in, of course) are a completely different matter. They can't be shut down without humongous costs and turning them back on again is another thing altogether.

2. So who does it benefit economically?: Not the Saudis for sure, they are basically running out of cash VERY VERY quickly and may need to borrow on the international market. Low prices have also put Russia in tight spot, they make losses at current levels. And international economy is in doldrums, China and Russia are shot, Brazil has Dilma R to deal with, Europe will soon become a refuge itself and Oil (and consequently gold over a longer term) is not a great investment...so where does money run? Voila, the only safe market in the world, US of A.

3. What about geopolitics then?: Picture what was happening a cuple of years ago: Russia was flexing its arms, ISIS was selling oil on black market, Saudis were flush with cash and the whole world was wondering if they are secretly funding at least part of the trouble in middle-east (which of course they were). Master-stroke, kill oil prices: Russia's shitting their pants, Saudi's for the first time in their lives understand what it's like to be an Indian immigrant whose passport have been confiscated by the bad Uncle (Uncle Sam in this case), Iran has permission to sell oil but nowhere to sell it to and is parking all its production in oil tankers off the shore from Bandar Abbas, Chabahar and Anzali and the biggest threat ISIS is wondering where its golden-egg laying goose went!

[rambo1o1]

The Goa budget has been passed and vat on petrol has been increased by 7%.
So current petrol prices will go up by 4/- which should take the cost of petrol to 57.8 rs per litre and diesel will be about 52.4rs per litre.

I guess Goa will no longer be known for its cheap petrol

Originally Posted by Annibaddh

Haha, well we are a country that definitely does not like money going out of our pockets. But on the Saudi bit, the little I have read and the evident would corroborate that logic, it's the Americans who have all the interest in keeping Oil abysmally low. And everything from geopolitics to economics points this to be advantageous for the US.
........!

Sorry for going OT, in addition to what you have said, the slowing economies of China and brasil have too had an impact on oil prices.
And Good or not,it gives these oil dependent countries(saudi,iran nigeria...) the dire need to diversify their economy and move away from oil revenue dependencies.

With the slump in the oil industry, obama has skillfully used this to further the cause of renewable energy production as an alternate source of jobs.
Though i doubt the oil industry has seen the last of the good old days, its future is not going to be rosy.

[sgiitk]

@Spitgfire; Yes, I have seen the ₹80 plus petrol in Karnataka, since my son was in Manipal from 1997 to 2013, and I was visiting him about twice a year. Today Petrol in UP is higher than many states (not MH of course). I wonder how the latest increase of Petrol in UP is ₹2.62 or something like that.

[JD1]

Karnataka is the next state to increase tax on petrol/diesel in their budget. Tax on petrol increased from 26 to 30% and on diesel increased from 16.65 to 19% effective 1-April.

[sgiitk]

I am wondering whether this improvement in the Rupee will stay. Today it is ₹66.60=$1. No so long ago we were flirting with 68. I think we may get some improvement in the landed cost of Crude or fuel.

Originally Posted by JD1

Karnataka is the next state to increase tax on petrol/diesel in their budget. Tax on petrol increased from 26 to 30% and on diesel increased from 16.65 to 19% effective 1-April.

Back to old ways - habits die hard. Once again they want to take the Gold or at least Silver medal for most expensive petrol in India. After all all the Hublots have to be paid for!

[sdp1975]

What's the price difference for diesel between TN and KA now ?

I know that taxis , trucks, buses and even private cars used to fill from TN bunks whenever possible earlier when diesel was cheaper in TN. In fact in one of the budgets, diesel price was cut down by about 1 rupee in KA and the prices almost matched the price in TN.

[gsurya]

Originally Posted by sgiitk

Back to old ways - habits die hard. Once again they want to take the Gold or at least Silver medal for most expensive petrol in India. After all all the Hublots have to be paid for!

True, if taxes on fuel had been kept the same as they were 2 years back, Diesel would have been priced at 32, Petrol at 44, today.

[NPX]

In 2015, Delhi, Haryana, Punjab, Chandigarh and HP decided to make diesel prices same in these states ending the 'achche din' (good days) of diesel consumers in Punjab, and HP who mostly used to buy cheaper diesel from Haryana.

http://articles.economictimes.indiat...sel-prices-vat

But it seems some states are not learning their lesson. They are loosing out their substantial portion of revenue, by increasing VAT on fuel, to neighbouring states who have cheaper fuel.

[JD1]

Originally Posted by sgiitk

Back to old ways - habits die hard. Once again they want to take the Gold or at least Silver medal for most expensive petrol in India. After all all the Hublots have to be paid for!

Not just that, the petrol allowance for KA ministers have been increased from 750 litres per month to 1000 litres per month. So some of it to cover this cost as well!

[carZest]

Originally Posted by sgiitk

Back to old ways - habits die hard. Once again they want to take the Gold or at least Silver medal for most expensive petrol in India. After all all the Hublots have to be paid for!

Following are petrol prices for some cities taken from http://www.mypetrolprice.com/ for 17th March and 9th March respectively
-----
Bengaluru : 62.19 Rs/Ltr
Kolkata : 63.76 Rs/Ltr
Hyderabad : 63.9 Rs/Ltr
Pune : 64.44 Rs/.Ltr
Mumbai : 65.79 Rs/Ltr

-----
Bengaluru : 58.99 Rs/Ltr
Hyderabad : 60.63 Rs/Ltr
Kolkata : 61.35 Rs/Ltr
Pune : 61.43 Rs/Ltr
Mumbai: 62.75 Rs/Ltr
-----

Let's see the values for next week.

[mpksuhas]

Originally Posted by sdp1975

What's the price difference for diesel between TN and KA now ?.

Not sure of the exact difference for diesel, but I guess it's within a rupee. Petrol used to be around 3 RS or so cheaper in TN couple of years back. Not sure about the same now.

[gsurya]

Originally Posted by carZest

Following are petrol prices for some cities taken from http://www.mypetrolprice.com/ for 17th March and 9th March respectively
-----
Bengaluru : 62.19 Rs/Ltr
Kolkata : 63.76 Rs/Ltr
Hyderabad : 63.9 Rs/Ltr
Pune : 64.44 Rs/.Ltr
Mumbai : 65.79 Rs/Ltr

-----
Bengaluru : 58.99 Rs/Ltr
Hyderabad : 60.63 Rs/Ltr
Kolkata : 61.35 Rs/Ltr
Pune : 61.43 Rs/Ltr
Mumbai: 62.75 Rs/Ltr
-----

Let's see the values for next week.

Oops, puts the Karnataka budget bashing here in perspective doesnt it?

[RSR]

Originally Posted by sdp1975

What's the price difference for diesel between TN and KA now ?

Originally Posted by mpksuhas

Not sure of the exact difference for diesel, but I guess it's within a rupee. Petrol used to be around 3 RS or so cheaper in TN couple of years back. Not sure about the same now.

Current prices for some southern cities (rupees/litre):
_____________________

Petrol

Bengaluru, KA - 62.19

Hyderabad, TS & AP - 63.90

Warangal, TS - 62.70

Visakhapatnam, AP - 64.99

Chennai, TN - 59.13

Thiruvananthapuram, KL - 63.50

Puducherry, PY - 56.14
_____________________

Diesel

Bengaluru, KA - 50.14

Hyderabad, TS & AP - 52.07

Warangal, TS - 51.78

Visakhapatnam, AP - 53.41

Chennai, TN - 49.09

Thiruvananthapuram, KL - 52.56

Puducherry, PY - 48.29
_____________________

Source: www.mypetrolprice.com

[sairamboko]

From April 1st, prices for Bangalore will increase by ₹1.90 . So Bangalore will be the costliest in south India!!