[anu21v]

Originally Posted by antz.bin

IMHO The bold bit does work with Products, but not with commodities.

Imagine that they increase the price of Soap and Shampoo so much that it pinches you everytime you take a bath eg.Rs.2000 for a bar of Lifebuoy soap etc. At such a time, we will try to use as little soap and shampoo as possible so that the same bar of soap lasts for much longer. Consumption is reduced. Expenditure is reduced.

But consider a commodity like Salt. Imagine salt is now sold at 10 grand a kilo instead of 12 bucks a kilo. You still have to add the same amount of salt to your food or the food will become tasteless. It doesn't matter if it is now sold at 10 grand instead of 12 bucks. Consumption and hence expenditure cannot be reduced unless a cheaper alternative to salt is found(In this case, Alternative fuels).

Then you are doing mistake assuming Petrol as commodity. By any yardstick it is precious metal than a commodity these days. Have you checked your usage pattern in case you are using the petrol car. The very fact that you are discussing here tells me how concerned you are with respect to your fuel bill and may reduce the Petrol usage if prices go higher.

[sunnyworld]

With Rupee touching 50 against a dollar, the chances of petrol prices going down as on Nov. 16 goes out of the window.

[rahul_9327]

Originally Posted by sunnyworld

With Rupee touching 50 against a dollar, the chances of petrol prices going down as on Nov. 16 goes out of the window.

It wouldn't have made a difference even otherwise.
From here on petrol prices can only go up and never down .

[libranof1987]

Whoa! Fellas, here's some decent news.

'Oil companies may cut petrol prices from November 16' - The Times of India

Not significant but every paisa counts when it comes to petrol!

[rahul_9327]

Originally Posted by libranof1987

Whoa! Fellas, here's some decent news.

'Oil companies may cut petrol prices from November 16' - The Times of India

Not significant but every paisa counts when it comes to petrol!

Good news but its only 60p. That would hardly make a difference. They should atleast roll back by 4-5 bucks. That would ease out a lot of pressure for us.

[karty_83]

Oh man !!! some relief. But a drop by only 60p ? They could have done better.
A pic is going around on FB where it has been stated that cost of petrol in India is only Rs.16 and the rest are all taxes.

[sunnyworld]

However, as the report says that if the Rupee stays at the same level, then they *may* reduce the price. Now, this was also said by the IOC chairman to NDTV about 3-4 days back when the rupee was trading at 48 or 49.
Now the Rupee has touched 50 so I am guessing no price reduction would take place.

[LDJ]

How is it that whenever there's a hike its not less than Rs.2-3/- per liter but when its a reduction isnt matched by the same standards

Originally Posted by karty_83

Oh man !!! some relief. But a drop by only 60p ? They could have done better.
A pic is going around on FB where it has been stated that cost of petrol in India is only Rs.16 and the rest are all taxes.

You might want to check this
http://www.team-bhp.com/forum/indian...-analysis.html

[RavenAvi]

Petrol prices likely to be cut by Rs.0.80 - Rs.1.

“Global oil prices fell sharply on Friday and if the rates sustain and the rupee does not depreciate any further, a reduction of Rs. 0.80 a litre in petrol prices is possible,” a senior Indian Oil Corporation official told The Hindu.

“If the rupee continues at current levels and if Singapore FOB (free on board) gasoline spot prices continue to average $115.80 a barrel, oil companies may reduce basic prices by at least 60 paise a litre,” a source told Reuters on the condition of anonymity.

The Hindu : News / National : OMCs to consider cut in petrol price

UPDATE 1-Indian state cos may cut gasoline prices from Nov 16-source | Reuters

[pypkmsrikanth]

Brent is trading at 114 USD so there is no chance of Petrol prices coming down. We should count ourselves as lucky if it is not raised next fortnight.

[manjot1912]

Some relief. But cannot say for how long.

Petrol may be cut by Rs 2 a litre on Nov 17 - The Times of India

[Abhi_Automobile]

Originally Posted by diesel_power

But how?? The petrol prices de-regulated.

Is this question intended to pull somebody's leg or genuine query
Although the prices are de-regulated, the PSUs ask get the Govt's nod before raising the prices.

It works beautifully for the Govt, you see. Earlier the prices were regulated, so the Govt took the flak every time there was a fuel price hike. Now, it is 'technically' de-regulated, so the Govt is not directly accountable for it. They gave the PSUs a great chance to recover the earlier money last as well as make some now.

This time they succumbed though. When junta cries, no body cares. When Mamta cried, they gave her 'fuel price rollback'. She became a Martyr.


My ultimate suggestion is: reduce the 'petrol' price by Rs 10 by cutting down on taxes. Increase the price of diesel by some Rs 5 to take it to 45/-. Since Diesel sells much more than Petrol, it should more or less balance out.

I, for one, think that the difference in Diesel and Petrol prices is ok. Just that the difference should be lesser.
My campaign:

Petrol: Rs 50/-
Diesel: Rs 45/-
LPG: Rs 450-500/- per cylinder.

Shoot at me, now

Abhi.

[sgiitk]

A very thinly (and poorly) disguised political move. Global oil prices have dropped marginally at best, and definitely do not justify a Rs.2 drop.

Is it the Kerala HC asking for the balance sheet of Reliance Petro and IOC, which will expose the 'efficiency' of the latter which is the reason.

[diesel_power]

Originally Posted by Abhi_Automobile

Is this question intended to pull somebody's leg or genuine query
Although the prices are de-regulated, the PSUs ask get the Govt's nod before raising the prices.

It works beautifully for the Govt, you see. Earlier the prices were regulated, so the Govt took the flak every time there was a fuel price hike. Now, it is 'technically' de-regulated, so the Govt is not directly accountable for it. They gave the PSUs a great chance to recover the earlier money last as well as make some now.

This time they succumbed though. When junta cries, no body cares. When Mamta cried, they gave her 'fuel price rollback'. She became a Martyr.


My ultimate suggestion is: reduce the 'petrol' price by Rs 10 by cutting down on taxes. Increase the price of diesel by some Rs 5 to take it to 45/-. Since Diesel sells much more than Petrol, it should more or less balance out.

I, for one, think that the difference in Diesel and Petrol prices is ok. Just that the difference should be lesser.
My campaign:

Petrol: Rs 50/-
Diesel: Rs 45/-
LPG: Rs 450-500/- per cylinder.

Shoot at me, now

Abhi.

The query was genuine. Now I understand how the system works. In any which ways its still working for the government. The only people to who suffer is the normal junta.

And for the price difference, . but please don't hike the diesel rates(I've just bought a VDi). Rather reduce the petrol rates.

As it is the annual balance sheets(displayed in the news papers) for the Oil companies always shows profit.

[ravib]

Originally Posted by manjot1912

Some relief. But cannot say for how long.

Only till winter session is over in parliament

-Ravi