[dass]

Has there been no changes made or did I miss something? Looks like everyone is busy with the post election drama across the country.

[PGA]

Me too, I have been eagerly waiting for last few days and it has been a long wait. I think this is little unfair on the part of Govt. They raised the prices midweek some time ago, we should have got some minor relief last month too and this time should have been to the tune of Rs 7-8, can we tweet sombody to wake up officials from slumber or get Govt to move a bit.

[sgiitk]

Testewrday, I was talking to the boss of a small IT firm, and he feels that the $ has scope to fall as low as to INR60 in due course. It is the RBI which is propping up the $ in the interest of the IT Cos and the exporters.

[sanchari]

I expected some movement in fuel prices on the 15th as the elections are done. However, its strangely quiet. Wonder whats happening. Fuel prices have been soft in recent past, and with rupee strengthening, there should be scope for some price cuts. Or the govt doesn't want to cut prices for another fortnight to recover some of the cost due to not revising prices for last couple of months.

[sgiitk]

Originally Posted by sanchari

I expected some movement in fuel prices on the 15th as the elections are done. However, its strangely quiet. Wonder whats happening. Fuel prices have been soft in recent past, and with rupee strengthening, there should be scope for some price cuts. Or the govt doesn't want to cut prices for another fortnight to recover some of the cost due to not revising prices for last couple of months.

I think the prices are now not regulated, so it is the OMCs which decide, with minimal inputs from the Govt. The old days of the Govt defining the rates are over. Remember the rates are set using Price parity formula, ie looking at the price of a particular fuel in the world market. So the price of Brent / NYMEX is just a loose indicator.

[sanchari]

I understand the OMC now regulate the prices. But its a strange coincidence that the prices haven't been increased during election period The govt can of course lean on the public-sector OMCs to postpone any price hike

[carwatcher]

Here in Goa Petrol has again become cheaper than Diesel.

P - 60.41/L
D - 61.76/L

[sgiitk]

Has anyone also found this. Petrol is Re 1 per litre cheaper during daytime (midday to 4:00pm) on Indianoil pumps. Is it a local phenomenon, or state phenomenon, or trans national?

[khoj]

That's interesting, will check this out at the local IOC vend.

Originally Posted by sgiitk

Has anyone also found this. Petrol is Re 1 per litre cheaper during daytime (midday to 4:00pm) on Indianoil pumps. Is it a local phenomenon, or state phenomenon, or trans national?

[saurabhkum]

No news yet but as per analysts we can easily have a reduction of almost 2 Rs in petrol and 3 Rs in diesel. I hope their analysis gets implemented.

[RohanDheman]

Petrol price cut by ₹3.77 and diesel by ₹2.91.

Source: Press Trust of India.



Rohan

[max8791]

Yes price reduction is all over news now. Hopefully prices of other commodities (depending on fuel prices) may get cheaper.

Delhi diesel = 56.xx

[NaXal]

Originally Posted by sgiitk

Has anyone also found this. Petrol is Re 1 per litre cheaper during daytime (midday to 4:00pm) on Indianoil pumps. Is it a local phenomenon, or state phenomenon, or trans national?

Didn't pay attention, But will surely do next time.

What I did notice is, price vary pump to pump.

When I asked a COCO Pump manager about the same, as why there is always some paisa difference between same company but different pumps, he informed me that it depends on the distance from their fuel supply depot (transportation cost at actual).

Closer the pump is, cheaper the price will be compare to a distant pump from same depot!

[sgiitk]

Now the price drop of 3.77 on Petrol and 2.91 on Diesel are are apparently excluding VAT. So unless the state is working on the oxymoron called 'Floor VAT' the price cut should be higher. Maybe the cheating states get exposed.

[vnabhi]

Originally Posted by sgiitk

Has anyone also found this. Petrol is Re 1 per litre cheaper during daytime (midday to 4:00pm) on Indianoil pumps. Is it a local phenomenon, or state phenomenon, or trans national?

I cross-checked at the IOC bunk near my home. I was told the prices are constant all through the day. I refueled around noon, and the price was the same.