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Old 6th November 2018, 11:37   #6586
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Default Re: The Official Fuel Prices Thread

Now the Rupee has improved to just over 73/$ and the prices are also dropping. So we can assume the trend of reducing prices will continue for some more time. Quite some time I had proposed RuBrent (Brent prices expressed in Rupees) but there were no takers. It is actually what we need.

I can say as long as the fuel prices keep dropping or do no rise significantly the idea of bringing fuel under GST will not be used.
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Old 6th November 2018, 12:08   #6587
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Default Re: The Official Fuel Prices Thread

I am on a roadtrip in Gujarat and Petrol/Diesel prices are the same here, surprising to me since my last fill in Mumbai had petrol diesel parity of about 8 rupees.
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Old 9th November 2018, 15:42   #6588
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Fuel prices have again dropped after the softening of both the $ and Brent. Today it is ₹ for Petrol 78.06 and ₹72.74 for Diesel. Thid is without any subsidy direct or hidden. Following further softening of both $ and Brent we can expect a lower price tomorrow.

Given the movements of the past couple of weeks I do not expect any movement on bringing fuel under GST. That will be used only when the prices have an upward tendency.
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Old 15th November 2018, 09:51   #6589
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Default Re: The Official Fuel Prices Thread

Couple of informative articles, suggesting the trend of falling retail prices shall continue for a bit (let's see about that):

While the global crude prices have fallen by approx 20%, retail prices in India have fallen by only 2%. What's the reason?

https://www.cnbctv18.com/energy/glob...ks-1391521.htm

https://www.timesnownews.com/busines...l-price/314300
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Old 15th November 2018, 10:41   #6590
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Default Re: The Official Fuel Prices Thread

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Originally Posted by Vitalstatistiks View Post
While the global crude prices have fallen by approx 20%, retail prices in India have fallen by only 2%. What's the reason?
Here in Hyderabad, the prices have fallen by about 7% from their peak and fall continues everyday. Since there a lag between the international price trends and local prices (due to the nature of contracts), we should see a fall of around 20% in a month or so.
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Old 15th November 2018, 14:52   #6591
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Now $ is down to just under Rs.72 (71.9x) so and Brent at 66.47 expect some improvement. This is the first time in some time that $ is below Rs.72. Today there was a drop in both petrol and diesel prices of about 10p each.
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Old 15th November 2018, 15:36   #6592
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Originally Posted by sgiitk View Post
Today there was a drop in both petrol and diesel prices of about 10p each.
The situation is still sad as am paying close to Rs.25/L extra for diesel compared to 2014.
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Old 15th November 2018, 19:29   #6593
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Default Re: The Official Fuel Prices Thread

Is there a means to get the day wise crude price vs petrol/diesel fuel price trend. It would be worth to see the change in petrol/diesel prices in India to a dollar rise or fall in crude price.

A trend of crude price vs petrol/diesel price vs INR/$ would be enlightening. I guess there are many on the forum who track this on daily basis. Can someone help here?
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Old 15th November 2018, 21:43   #6594
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Default Re: The Official Fuel Prices Thread

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Originally Posted by ghodlur View Post
Is there a means to get the day wise crude price vs petrol/diesel fuel price trend. It would be worth to see the change in petrol/diesel prices in India to a dollar rise or fall in crude price.

A trend of crude price vs petrol/diesel price vs INR/$ would be enlightening. I guess there are many on the forum who track this on daily basis. Can someone help here?
Hi Ghodlur,
You could go to this website oil-price.net and see the crude on a daily basis. India's crude basket is Brent and so you could primarily focus on that. If you visit any of the oil marketing company's website to see the price of petrol/diesel. Mind you that today's price of fuel is affected on a 15-day average so what is today's price would be based on the crude rate that was 15 days back. Cheers
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Old 16th November 2018, 16:56   #6595
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Default Re: The Official Fuel Prices Thread

Yes, whenever the price of crude goes up, we get impacted within a day or two citing international price parity for locally produced fuel. When crude goes down, we get a truck load of BS like futures, contracts, lag due to transportation and what not !
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Old 16th November 2018, 17:16   #6596
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Interesting to see petrol cheaper than diesel in some states. https://www.livemint.com/Companies/P...a-gujarat.html
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Old 16th November 2018, 17:20   #6597
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Default Re: The Official Fuel Prices Thread

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Originally Posted by humyum View Post
I am on a roadtrip in Gujarat and Petrol/Diesel prices are the same here, surprising to me since my last fill in Mumbai had petrol diesel parity of about 8 rupees.
Welcome to Gandhi-land!
Actually, Diesel is costlier by 91 Paisa!

Today's price:
Diesel - 75.05
Petrol - 74.14
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Old 17th November 2018, 11:16   #6598
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Default Re: The Official Fuel Prices Thread

Just to avoid to confusion, here is some data. Let’s see what we make of it.

Brent Crude was its peak on October 4, when it was trading at USD 86.07 per barrel. On Nov 13, Brent Crude was USD 65.45 ( Trends available at https://www.macrotrends.net/2480/bre...ar-daily-chart). That is a drop of about 24%.

The retail price of petrol (Delhi) during this period was between Rs. 84.06 (On October 4) to Rs. 77.52 (On November 13). (Trends available at https://www.mypetrolprice.com/2/Petr...0&LocationId=2). That’s a drop of 7.7%. And mind you, this drop of 7.7 is exaggerated by the rates cut by Rs. 2.50 on excise etc. by the govt on October 5. If that was not done, the drop would have been a mere 4.7%.

Regarding Dollar to INR factor, note that On Oct 4, Dollar to INR was 73.51. On November 13, it was 72.62.

Some may say that retail price track brent based on a 15 day period. So if Indian retail prices track average of Brent over last 15 days, let’s compare data from October 28 to November 13.

October 28- Crude at 77.56. Rupee to Dollar at 73.10. Petrol (Delhi) retails at Rs. 80.05.
November 13- Crude at 65.45. Rupee to dollar at 72.62. Petrol (Delhi) retails at Rs. 77.52.

So- during this 15 day period, crude prices dropped by 15.6%. Dollar drops by about .8%. But retail prices drop by 3% !!! The question is- WHAT IS GOING ON?

Last edited by Vitalstatistiks : 17th November 2018 at 11:23.
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Old 17th November 2018, 15:23   #6599
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Vitalstatistiks View Post
The question is- WHAT IS GOING ON?
Thanks buddy for the statistics. This is exactly what I needed albeit in a chart trend format. This needs to be highlighted every where esp on the social media so that people are aware. The mango man was on a high when the excise duty cut was announced thinking the govt is addressing the high fuel price issue. Infact the loot is still on in the name of narrowing fiscal deficit. A recent report (read in TOI) says that the fiscal deficit has increased even further. While the Mitron guy keeps hankering that there is progress in the country.
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Old 17th November 2018, 15:52   #6600
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Originally Posted by panky12345 View Post
The situation is still sad as am paying close to Rs.25/L extra for diesel compared to 2014.
Sorry, I have no sympathy. I say, fuel should be priced on the Calorific value, on which Diesel should be somewhat costlier that Petrol. I may come to pass since 2.5 SPM is the new kid on the block and Diesel is far worse on this account.
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