[libranof1987]

Diesel "might" get cheaper in Delhi.

Diesel hike: Delhi Govt examines possibility of giving relief - The Economic Times

Don't know if it applies for the general public as well though (the article mentions mainly BPL families).

[rtandon]

Originally Posted by Diesel lover

Haal-e-dil bayan karti ye tasveer ..

Awesome boss.
I wonder the origin of the term "Iraq ka paani". I do get the meaning though.

[Ragul]

Originally Posted by rtandon

Awesome boss.
I wonder the origin of the term "Iraq ka paani". I do get the meaning though.

Thats just poetic license.

OT but my cook cum maid is now demanding a salary hike. She is blaming the petrol and diesel prices. She has never owned a two or four wheeler in her life.

--Ragul

[neeld]

Did anyone notice the silent hike of petrol price around 33 paisa on 1st July.

I was paying Rs. 63.37/L. But recently when I tanked up the price was Rs. 63.70/L for petrol in Delhi. Checked the websites of IOC & BPCL and both have new prices effective 1st July .

See these links for more information:

IOC: Gasoline : Natural Gas Companies : Gas Industry Jobs

BPCL: Bharat Petroleum | Your Corner | Petro Prices

[bluevolt]

Petrol prices to be reduced as reported by economic times and some other media agencies.

Petrol price may be cut by Rs 1.5/litre: Report - The Economic Times

http://timesofindia.indiatimes.com/b...ow/9543800.cms

[anonymous]

Government is considering decreasing the fuel price because of a steep fall in the crude oil price in the international market. The price of crude oil stood at $82 a barrel in the international market, the lowest in last 9 months. A fall in crude oil price directly converts into the decline in the cost of fuel on the market.

The decrease in the fuel price could take place in next few weeks.

What I do not understand is the reason of price cut of Rs 1.5/2 only. When crude oild was $108 a Barrel - Petrol Price was 65 Rs and now its $82 a Barrel and Goverment has started thinking to decrease the price by Rs. 1.5/2 only. Can someone understand why?

Source:-
Petrol prices likely to decrease in next few weeks by Rs 1.5 to 2 per liter | CarTradeIndia.com

[Yamahead]

Originally Posted by tj123

The entire Oil subsidy is a complete mess, government first impose 50% taxes on Petrol to counter the oil subsidy burden on diesel , Kerosene & LPG. More than 50% of the subsidized Kerosene is used to adulterate diesel and petrol, this leads to higher emissions and lowers our vehicle mileage figures. This is a big mafia and lot of people are making good money.

So removing /reducing the subsidy is the only answer to curb this menace, but the stakes are too high for any political to take this drastic step and invite public wrath.

I am sure by freeing diesel and Kerosene to market forces will make a huge difference in the petroleum sector. The taxes on fuel can be reduced easily as there is no subsidy burden hence all sectors of the public will be benefited.

I believe the biggest source of nuisance and subsidy burden is the idea of "cheap kerosene thru PDS". It basically means that kerosene which is supposed to be sold thru PDS is diverted to the so-called Kerosene mafia which mixes that kerosene with petrol. Talk of cross-subsidisation.My opinion is to do away with all subsidies and give cash component as subsidy to the BPL family for fuel use. They use Kerosene and get a monthly cash subsidy transferred to them thru Post Office accounts( India Post also gets a new line of relevance) and without cheap kerosene to mix, the oil mafiosi loses relevance. just my two cents.

[headbanger]

Originally Posted by anonymous

What I do not understand is the reason of price cut of Rs 1.5/2 only. When crude oild was $108 a Barrel - Petrol Price was 65 Rs and now its $82 a Barrel and Goverment has started thinking to decrease the price by Rs. 1.5/2 only. Can someone understand why?

We should be thankful to GOI that they are at least making an effort to let Rs. 1.5 -2 go from their pocket. They deem it as their right..sarcasm indeed intended!!!

[mukeshgoel]

Diesel prices to come down by 37 paise a litre in Delhi.

Diesel prices in Delhi likely to come down - India News - IBNLive

[ravib]

Its now September and still no change in petrol price as to what was stated in ET.

The price cut news are mostly "likely to happen" type news and may or may not happen and is very slow process. But the price increase is usually "sure" type news and happens pretty soon in few days.

-Ravi

[2500cc]

After a gap of four months, oil marketing companies are looking for an increase in petrol prices, with under-recovery on the fuel set to rise to Rs 3.40 a litre later this week from Rs 1 at present.
BAD NEWS! Petrol price may go up again - Rediff.com Business

[lohithrao]

wow i think few weeks back there was a news about the possible decrease in price which never happened. as someone mentioned decrease is just a news and increase is for sure!

god!!!! one more hike

Originally Posted by 2500cc

After a gap of four months, oil marketing companies are looking for an increase in petrol prices, with under-recovery on the fuel set to rise to Rs 3.40 a litre later this week from Rs 1 at present.
BAD NEWS! Petrol price may go up again - Rediff.com Business

[ottocycle]

Hold on for another shocker.

Petrol prices may go up by Rs 3 a litre as rupee weakens - The Times of India

NEW DELHI: State-owned oil firms may have to raise petrol prices by as much as Rs 3 per litre as the rupee touched two-year low against the US dollar, increasing the cost of importing crude oil.

"Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said.

IOC, BPCL and HPCL have lost Rs 2,450 crore this fiscal on selling petrol -- whose rates were freed from government control in June last year -- below the cost.

"At current rate, oil firms will accrue another Rs 2,850 crore of loss on sale of petrol, taking the total loss on a fuel that was freed from control, to Rs 5,300 crore for the full fiscal," the official said, adding, "Oil firms will have to take a call on raising petrol price soon."

Besides petrol, the three firms are losing Rs 263 crore per day on selling diesel, domestic LPG and kerosene below cost. Diesel is being sold at a subsidy of Rs 6.05 a litre, kerosene at Rs 23.25 per litre while domestic LPG rates are under-priced by Rs 267 per 14.2-kg cylinder.

"The industry lost around Rs 65,000 crore in the first half of the current fiscal on the three products and for the full year the revenue loss is estimated at Rs 121,571 crore at the price of Indian basket at $110 per barrel," said the official.

Rupee fell to 48 per dollar today for the first time since September 2009. "Every rupee depreciation, the under- recovery (revenue loss) increases annually by around Rs 9,000 crore," he said, underscoring the need for action on the price front on all the three products.

[libranof1987]

More on the fuel hike :

Petrol prices may go up by Rs 3 a litre as rupee weakens - The Times of India

I wonder how Shell will react to this. As of today, Shell is still displaying banners which list normal petrol at Rs. 71.35.

[ghodlur]

Originally Posted by lohithrao

god!!!! one more hike

By your post, it looks like you are for the hike.

Gone are the days when the fuel price would go both ways, but these days the rise in always northbound. Add to that the age old Octroi charges and the petrol prices jucst cost a bomb now. However hard fanboy I am of petrol but these days the price has now started pinching me and making me re think about the plan for the coming days.