[lurker]

this means budget deficit is beyond govt's control. So they can keep adding prices till it psychological barrier like 70. If fuel price international goes up, this govt will go belly up.

[pramodpk]

What is the logic of this 5 Paise hike in petrol price? They did not want the diesel users to feel bad with a headline "Diesel price hiked" ?

[sgiitk]

Originally Posted by pramodpk

What is the logic of this 5 Paise hike in petrol price? They did not want the diesel users to feel bad with a headline "Diesel price hiked" ?

A babu will never leave any column blank. Remember the IOC officers are overpaid (imho) babus.

[GTO]

Moderator Note: As per our forum rules, please do NOT discuss politics or politicians. Thanks!

[Jebs]

Any price hike on the cards? I need to fill-up before something goes high

[nkrishnap]

Originally Posted by Jebs

Any price hike on the cards? I need to fill-up before something goes high

Its generally announced late evening on the last day of the fortnight. Hoping to see a reduction this time and I may be day dreaming

[sgiitk]

Originally Posted by lurker

this means budget deficit is beyond govt's control. So they can keep adding prices till it psychological barrier like 70. If fuel price international goes up, this govt will go belly up.

Not exactly they are trying to keep the WPI under control. As for the CAD it is now down to 1.1%. It was 1.0% in 2004 and then kept on going up, till RR managed to slowly control it.

Once you run a monetary economy you have to keep a tight check on the deficits. You cannot print money at will. If you do the latter then inflation shoots up.

[sumzup]

Originally Posted by Jebs

Any price hike on the cards? I need to fill-up before something goes high

There may be a small downward revision or it may be a status quo Jebs.

[romeomidhun]

Originally Posted by Jebs

Any price hike on the cards? I need to fill-up before something goes high

Though crude remains more-or-less the same, Rupee is weaker. Also considering the Brexit sentiments coupled with the greed of the sellers, the fuel prices should go up.

[lurker]

Originally Posted by Jebs

Any price hike on the cards? I need to fill-up before something goes high

fuel price policy:

Never let a good chance to hike go amiss.

so what do ya reckon will happen. Go rack your brains.

Originally Posted by sgiitk

Not exactly they are trying to keep the WPI under control.

Sir, you are the only person in the world who advocates controlling WPI by increasing fuel prices. In rest of the world increase in fuel prices tend to cause upwards volatility in WPI.

[sgiitk]

Originally Posted by lurker

Sir, you are the only person in the world who advocates controlling WPI by increasing fuel prices. In rest of the world increase in fuel prices tend to cause upwards volatility in WPI.

Pray, when did I say that. All I said is that the WPI has to be kept in check, which will not happen with deficit economics. A low CAD also helps.

I will be the happiest man when subsidies are removed from Kerosene (less adulteration) and LPG (I have already given up mine). With the DBT scheme the poorest can always be taken care of. Incidentally, our maids are very happy with DBT of the gas subsidy. It is they who get the money. See what happened with extremely low prices (low taxation, and subsidy as well) on Diesel. Two words Market Distortion.

[vin_b]

Petrol price cut by 89 paise and diesel by 49 paise

[sanjaykk]

Just In:
Petrol price cut by 89 paise a litre, diesel by 49 paise a litre: Press Trust of India

[narchennai]

Petrol reduced by 89 paise & Diesel by 49 paise@ Chennai

[VRPAI]

Still can't get the logic behind this pricing. When the prices go up, the diesel prices shoot up much more than the petrol. Shouldn't it be the similar trend when the pricing goes down as well?!.