[myavu]

^^^ OMCs are considering a further price cut of Rs.1.5 to Rs 2.0 for petrol this Friday

[bluevolt]

Petrol Prices reduced by 92 Paise, Diesel Prices Increased by 37 Paise in Delhi.

How many of you are now switching back to petrol?

[romeomidhun]

Crude oil prices at $95, and still those greedy oil companies not reducing Petrol prices! Is there a government or opposition here?

[sgiitk]

Originally Posted by romeomidhun

Crude oil prices at $95, and still those greedy oil companies not reducing Petrol prices! Is there a government or opposition here?

They are too busy (in)fighting. I was expecting a Re.1 or so drop in the 15th June review. Zilch is what we got.

[romeomidhun]

And today, it is $92! Still no news about rate cut.

I think these politicians at the govt an opposition are getting handsome money from private oil companies.

[shadows123]

Originally Posted by romeomidhun

And today, it is $92! Still no news about rate cut.

I think these politicians at the govt an opposition are getting handsome money from private oil companies.

Shell is charging a full 2Rs less than the govt IOC, BP and HP pumps in Bangalore..Wonder what this country has come to finally

[rnidumolu]

Originally Posted by romeomidhun

And today, it is $92! Still no news about rate cut.

I won't see any price cut as Rupee slipped to a life time low against dollar today. So the price cut is not on cards.

[sgiitk]

There was a quasi-announcement by a Govt Official that the OMCs are not likely to cut petrol prices soon. So much for a deregulated commodity!!!

[shadows123]

Originally Posted by rnidumolu

I won't see any price cut as Rupee slipped to a life time low against dollar today. So the price cut is not on cards.

If that was the case, then how are Shell able to give fuel at a price lesser than the govt pumps? I think its just a case of govt/govt owned pumps wanting to make as much money from uncomplaining middle class customers!!!

[Neilguy]

Originally Posted by shadows123

If that was the case, then how are Shell able to give fuel at a price lesser than the govt pumps? I think its just a case of govt/govt owned pumps wanting to make as much money from uncomplaining middle class customers!!!

This is probably to recover their losses, because OMCs had not raised their prices for a looooong time when crude prices were at their highest (in recent times) but Shell was selling at 12-15 rupees above the OMC prices (to reflect true international prices).

I didn't hear anybody complaining about it at that time, so why now?

[shadows123]

Originally Posted by Neilguy

This is probably to recover their losses, because OMCs had not raised their prices for a looooong time when crude prices were at their highest (in recent times) but Shell was selling at 12-15 rupees above the OMC prices (to reflect true international prices).

I didn't hear anybody complaining about it at that time, so why now?

well, for starters private companies are generally more pricier than the Indian OMC's. Even now when i tell people that Shell costs less, they refuse to believe me!--> This makes people more angry with the government esp considering the heavy subsidy being offered on diesel. Not to mention, the umpteen times they've increased the prices but when the time came to decrease they shied away immediately(only a couple of times i know they've decreased, one during elections).

The bottom line is people expect Shell to be costlier due to no subsidy and no govt interference and when it is lesser than the OMC's it generally means something's wrong..atleast thats how i see it

[lohithrao]

I seriously dont understand, why the government keeps crying about the "loses" while 50% of the cost is tax!

Originally Posted by Neilguy

This is probably to recover their losses, because OMCs had not raised their prices for a looooong time when crude prices were at their highest (in recent times) but Shell was selling at 12-15 rupees above the OMC prices (to reflect true international prices).

I didn't hear anybody complaining about it at that time, so why now?

[romeomidhun]

International crude oil prices are falling day-by-day, and our govt and opposition are still sleeping... Now, the Brent oil rate is below $89.81!

[sgiitk]

There is some talk that they may want Brent below $80 and then deregulate Diesel! However, with the Rupee approaching 57to a dollar I have no hopes.

Nero fiddled while Rome burnt - how true Mantralaya with all the Adarsh & Lavasa files has burnt, along with the North Block. So Nero can have his field day before vanishing up Raisina Hill, or is Nero MMS or SMG!

[shadows123]

Originally Posted by lohithrao

I seriously dont understand, why the government keeps crying about the "loses" while 50% of the cost is tax!

My guess is they screwed up somewhere else and to cover it up, blame the one steady thing they can bank on...the higher international fuel prices...and if you notice, their losses are always on petrol only, you dont see them crying on losses over diesel or the exorbitant freebies they seem to throw around to rescue states just because they are in the alliance or they helped them in someway(read Nuclear bill or president election).