The Official Fuel Prices Thread

[dass]

The 5 states where the prices are revised daily have seen a reduction, I guess we will see a minor reduction in the prices on 15th.

http://profit.ndtv.com/news/economy/...=home-business

[Amey Kulkarni]

Originally Posted by ptaneja

Read this today, contradicting to price cut. If this is true, then we should be expecting a hike.

Surprisingly, the latest update I have from Rex Fuels at 5:45pm today shows the same figures I shared earlier i.e price drops.

And to my knowledge, Rex Fuels is quite accurate when I have compared their speculations to the exact figures that reflect every fortnight.

Maybe the price hike might come post this drop on 15th May.

Let's wait and watch what this 15th reflects.

Cheers,
Amey

[condor]

Originally Posted by Amey Kulkarni

Maybe the price hike might come post this drop on 15th May.

The changes seem to be based on prices prevailing on 15th & last day of month. So let's wait.

[ptaneja]

Originally Posted by condor

The changes seem to be based on prices prevailing on 15th & last day of month. So let's wait.

Again an indication of price increase > >

Oil prices rose 1 percent, extending Wednesday's 3 percent gains as support grew for OPEC cut a day after the US reported a big drop in inventories, said a report.

In recent days major producers like Iraq, Algeria and Kuwait have voiced support for extending last year's deal from the Organization of the Petroleum Exporting Countries and other producers to cut supply by almost 1.8 million barrels per day (BPD), said a Reuters report.

US light crude oil ended the day up 50 cents, or 1.6 percent, at USD 47.83. Brent settled at USD 50.77, up 55 cents or 1.1 percent. It was the highest closing price in a week for both benchmarks.



Source > http://www.moneycontrol.com/news/bus...2-2277137.html

[condor]

Originally Posted by ptaneja

Again an indication of price increase > >

At start of month, the price was (approx $48.8. Closed at $47.83 yesterday. Another 4 days before we know.

[Amey Kulkarni]

A quick update guys!

Price Trend effective 15th May 2017 -

1. Petrol (-) Rs 2.50/- per Ltr
2. Diesel (-) Rs 2.25/-per Ltr

Cheers,
Amey

[Ruchir031]

Originally Posted by Amey Kulkarni

A quick update guys!



Price Trend effective 15th May 2017 -



1. Petrol (-) Rs 2.50/- per Ltr

2. Diesel (-) Rs 2.25/-per Ltr



Cheers,

Amey

TOI report shows :

Petrol (-) Rs 2.16 and Diesel (-) Rs 2.10 litre.

[agambhandari]

Definitely a larger cut than expected. Has the rupee strengthened so much to counter the increase in the crude rates?

[Amey Kulkarni]

Originally Posted by Ruchir031

TOI report shows :

Petrol (-) Rs 2.16 and Diesel (-) Rs 2.10 litre.
Attachment 1639193

Yes! That's correct.

Rex Fuels somehow revised the fuel prices again last evening to what you mentioned above.

Originally Posted by agambhandari

Definitely a larger cut than expected. Has the rupee strengthened so much to counter the increase in the crude rates?

Rupee has strengthened since start of this month and is lingering around the early 64s to a maximum 65.58 which happened only a day i.e. 11th May.

Cheers,
Amey

[sgiitk]

Originally Posted by agambhandari

Definitely a larger cut than expected. Has the rupee strengthened so much to counter the increase in the crude rates?

With the economic advisor making a pitch for a stronger rupee, this is bound to happen. I heard talk of INR30-32 in some quarters. Benefits being pitched are, lower inflation, and improvement of the rating of India. Any such action has cascading implications.

Obviously the exchange situation is getting comfortable.

[carboy]

Originally Posted by sgiitk

I heard talk of INR30-32 in some quarters.

Not a chance in hell. And thankfully. Even 50 Rs will kill our exports which even otherwise have been doing pretty badly for the last 3 years. And also the outsourcing companies.

For FWIW, I expect it to go back to 67-68 by end of the year.

[M00M]

Has The G of Maharashtra raised petrol prices again today ? I went to fill fuel but the price was same so on enquiry I was told VAT has gone up again. What kind of robbery is this ? I thought Mr Fadnavis was a intelligent chap but clearly he's no better than any other congress tax sucking stooge.

[inder]

Yes the Govt of Maharashtra has again increased the taxes again to compensate the highway liquor ban.

[M00M]

Originally Posted by inder

Yes the Govt of Maharashtra has again increased the taxes again to compensate the highway liquor ban.

Why not levy Rs 1 on diesel and Rs. 1 on petrol equally. why is one fuel targeted the most ? The rich are driving Diesel Germans, and once in a week a high powered performance petrol. So the middle class continue to bear the brunt when they have low usage so they buy petrol.

No clear direction which fuel to buy or to tax. You want us to buy electric fine. make them affordable and make them available. Terribly disappointed by Mr. Fadnavis. He hasnt really changed anything just retweets PM's tweets, doesnt even reply to tweets anyone sends him.

[GTO]

Guys, a polite reminder that our rules don't permit political discussions. Some posts on this thread have been deleted. Please avoid - thanks!