[joslicx]

Originally Posted by ptaneja

Any guesses for price revision coming up this month end ? With dollar creeping toward 70rs, but crude dropping , any wise comments ?? !!

Crude is not dropping. In the last fortnight it is up by almost 7-8%!

[DriveOnceMore]

I've received a message, which I highly feel that it's a rumor, which says petrol price cut by 3.5 and diesel by 4.5 rs

[sanchari]

With exchange rate of Rupee going down, I am expecting fuel prices to go up on the 30th.

[ghodlur]

Originally Posted by sanchari

With exchange rate of Rupee going down, I am expecting fuel prices to go up on the 30th.

On the contrary the dollar rise is compensated by the fall in crude prices. The crude is back at the $46 levels and IMO there should be no change in the fuel prices at the end of the month. Had the $ to rupee seen a major drop, then it would make sense to cut the fuel prices.

[sgiitk]

Originally Posted by DriveOnceMore

I've received a message, which I highly feel that it's a rumor, which says petrol price cut by 3.5 and diesel by 4.5 rs

I also saw it, on WhatsApp. Price adjustments are done on the last day of the month, or the first day of the next month. So that is obviously one of myriad rumors going round. Wait for a couple of days and all will be known. Brent is down to $46.xx while the rupee is up to about 68.5 to the dollar. Anybodies guess.

[romeomidhun]

Originally Posted by sgiitk

Price adjustments are done on the last day of the month, or the first day of the next month. So that is obviously one of myriad rumors going round. Wait for a couple of days and all will be known. Brent is down to $46.xx while the rupee is up to about 68.5 to the dollar. Anybodies guess.

This would be the case if the system was completely transparent, which is not the case. Govt may reduce prices for the general public to cool down the immediate effects of demonitization.

[sgiitk]

Originally Posted by romeomidhun

This would be the case if the system was completely transparent, which is not the case. Govt may reduce prices for the general public to cool down the immediate effects of demonitization.

In free market driven pricing, when will be come out of the impression that prices are state driven. Only as far as the taxation. Transparency, ask IOC / BP/ HP!

[sgiitk]

Today's announcement Petrol up 13p and Diesel down 12p per litre. More or less status quo in my view. I guess these are on Delhi prices.

[sdp1975]

Opec agrees on curbing output in 8 years ! 1.2 million barrels a day to be cut from January.

Crude soars 10 %.

Source

[sgiitk]

Originally Posted by sdp1975

Opec agrees on curbing output in 8 years ! 1.2 million barrels a day to be cut from January.

Crude soars 10 %.

Source

But Iran is exempted, Indonesia walks out (or is thrown out of the cartel). Markets expect $50 to be the new par. Now let us see how many implement the cuts, Saudi and Russia for sure. The cartel has survived, but is still in ICU.

[sgiitk]

Yesteday, after about two weeks the Rupee closed below the 68 mark (at 67.90). Also, Brent being in the $54 regime maybe there still is hope, come 15/12. We may escape a more draconian price rise.

[ptaneja]

Cartel have just starting cutting down on production - will see a major impact starting of next year...probably petrol will see the price of 70+, and diesel would be in 60's. Not sure if govt would absorb anything /..

[redcruiser]

There is news that Russia has increased its production and hence the prices of crude will not rise as was predicted.

[dZired]

Fuel Prices may rise by 5-8% in 3-4 months, says Crisil

According to Crisil Research, fuel prices are likely to rise by around 5-8% in the next 3-4 months. This rise will be a result of the recent decision taken by the Organization of Petroleum Exporting Countries (OPEC) to cut production of crude oil by 1.2 million barrels per day.

Source: ET Auto

[Ponkermania]

Originally Posted by dZired

[b]fuel prices are likely to rise by around 5-8% in the next 3-4 months.

When the prices dropped, the government made merry by significantly increasing the taxes, so the consumer didn't benefit as much. The stated reasoning at the time was 'we don't want to consumer to get used to low prices, we will use the taxes collected to shield against future price hikes'.

I wonder if the government will keep it's word, and reduce taxes when the fuel prices increase, or if it will keep the taxes high, and watch us suffer.