[tanwaramit]

it wont be so soon, let the government settle down, ministries handed over, then its the time to learn news.

[mjothi]

Originally Posted by sgiitk

It is but natural with crude above $60 a barrel. Also, there is a move to decontrol the prices. Both are highly desirable. Also, they must do away with the subsidy on Kerosene (better fuel for all of us!), and LPG (no issues of cylinder diversion). If necessary food stamps can be isued to the BPL folks. Come to think of it why not do away with the entire PDS and replace with food stamps.

Boss, both are very crucial for "living". So, I do not agree with your view on this. Anyway, its going off-topic if we start discussing on this front.

So, back to topic. When the govt cannot have any control on Diesel for luxury cars (forget even the above poverty cars) you expect them to disturb the fundamental for living... read as VOTE

[null]

Originally Posted by lohithrao

Have seen the price vary from pump to pump...IO in sarjapur and Bannerghatta road supply fuel for the price specified by Sushrutha.

I think I know a little bit about why there is a price difference
- Within city limits, its 46.28 (or whatever)
- Outside of Bangalore City limits, eg. Sarjapur or Kengeri, its slightly lesser - like 25p or so because its considered as Bangalore rural

I believe its got to do something with a cess to improve roads within Bangalore City limits, which had been introduced during SM Krishna' regime (if I am not wrong).

[prabhusati]

Price difference does exist between the various oil marketing companies within Bangalore. BP & HP sell petrol at Rs.46.28 each. Indian Oil sells petrol at Rs.45.99. Never tried IBP and hence cannot comment on their price.

[loving_alaap]

Today's news papers says, petrol price will go up by 2 rs & diesel will be cheaper by 30paise / ltr.

Sounds interesting.

[Technocrat]

^^ That is only if the fuel prices are not regulated by Govt. Here is complete article from today's TOI

Mkt driven fuel pricing in offing

If Implemented, Petrol May Become Dearer While Diesel May Turn Cheaper

TIMES NEWS NETWORK

New Delhi: Taking advantage of low international crude price and inflation rate, oil ministry officials have drafted a proposal for their incoming political boss to let oil retailers set the price of motor fuels till crude reaches $75 a barrel but doubt remains whether the plan for a market-driven pricing regime will pass muster as it may be seen as going against Congress’ ‘aam-admi’ image.

If the proposal is implemented, petrol will become dearer by about Rs 2 a litre but diesel will be cheaper by 30 paise at present crude price levels. These prices will change every three months, based on the quarterly average of global crude price. The arrangement will continue till oil reaches $75 a barrel, at which point the government will step in with the subsidy to cushion consumers against runaway pump prices.

This is not the first time a free-market proposal has been drawn up. But strong political opposition has put paid to the idea everytime the bureaucracy and industry pushed for it on ground of cutting losses of staterun oil firms and giving private retailers a level field. Each time, the political argument of shielding the aam-admi from flaring oil prices has prevailed.So much so that despite such votaries as PM Manmohan Singh, foreign minister Pranab Mukherjee and Planning Commission deputy chairman Montek Singh Ahluwalia in the last government, deregulation could not be implemented due to opposition from both within Congress and its allies.

The situation may not be different this time also, though the political numbers go in Congress’s favour. It is likely that allies such as Trinamool Congress and DMK will not sing a different tune this time too. Even in Congress, there is hardly any voice that does not admit how government control kept motor and kitchen fuel prices in check during global crude’s high run last year. With populist measures like loan waiver being credited with Congress’s victory, it is unlikely that a step will be taken which will see prices rise, particularly when there is a queue of state polls, starting with Maharashtra later this year.

For the industry, the deregulation as envisaged in the proposal will be temporary in nature and will not remove the uncertainty for private firms due to the price cap. With crude already testing $60/barrel and projected to rise further as the world economy starts turning around from next year or so, it will not be too long before the government controls and subsidy are back.

Private firms suh as Reliance, Essar and Shell closed or curtailed their retail networks after they were outpriced by state-run firms during oil’s high run. The government subsidised the state firms for selling fuels at artificially low price but gave no such relief to private retailers.

[loving_alaap]

Well Chidambaram is well known for surprising us (with lots of taxes & change in the policies).

[arin_12]

NEW DELHI: The Government will consider deregulating petrol and diesel prices in six weeks, Petroleum Minister Murli Deora said on Friday.
"The issue of deregulation is being discussed and it will be put up to the cabinet for a decision," he said after taking charge of the Petroleum Ministry for the second time today.
Asked about the time frame during which the decision is likely, he said: "In about six weeks."
Jitin Prasada also took over as Minister of State for Petroleum today.

[amtak]

The elections are over, the prices are rising again. Bad thing!

[Car Fan]

Good for the economy, probably bad for us!

[CarsPG]

I think the price rice has more to do with the fact that oil has risen to it's highest level of 2009!

[DriverR]

True. And the oil prices is expected to continue to go higher. Which is bad news for us, consumers

[SumitB]

Go tank up! If Murli Deora has his way, you will be paying Rs. 4/- more on a litre of petrol and Rs. 2/- more for every litre of diesel from midnight tonight. Saw this on Times Now Breaking News.

[kannan666]

Is that really true ? Don't seem to see a mention of it on any of the news websites yet including Times Of India

[SumitB]

That is true as per Times Now. Watch it right now. The Minister is holding a Press Conference.

Confirmed!! Petrol prices hiked by Rs. 4/- per litre and Diesel by Rs. 2/- per litre!!!!