The Official Fuel Prices Thread

suresh_gs · 13th June 2014, 16:34

Let us all wait and watch the ongoing crisis in Iraq. If things go out of control of the Iraqi govt, sooner or later one can expect a BOMB in petrol price hike.

sgiitk · 14th June 2014, 10:28

Quote:

Originally Posted by sgiitk

Agree @sdp1975; Now I have a gut feeling that Crude may be headed north. Reason the impact (real and perceived) of ISIS who are trying to take over Iraq.

Quote:

Originally Posted by suresh_gs

Let us all wait and watch the ongoing crisis in Iraq. If things go out of control of the Iraqi govt, sooner or later one can expect a BOMB in petrol price hike.

Yes, Brent went up to $113+, Rupee threatened Rs.60 and Sensex down 300+ points yesterday. Uncle Sam is not too keen to go in again.

suresh_gs · 14th June 2014, 11:21

Quote:

Originally Posted by sgiitk

Yes, Brent went up to $113+, Rupee threatened Rs.60 and Sensex down 300+ points yesterday. Uncle Sam is not too keen to go in again.

It is mentioned in today's THE HINDU (14.06.2014) that petrol and diesel pries may be hiked by Rs 0.75 each. Reason being fuel upgrade.

sgiitk · 14th June 2014, 11:29

Quote:

Originally Posted by suresh_gs

It is mentioned in today's THE HINDU (14.06.2014) that petrol and diesel pries may be hiked by Rs 0.75 each. Reason being fuel upgrade.

Noise. BS-V is planned for 2025 now! I guess our dinosaurs cannot produce it before then, even though one refinery is doing it for the past few years!

VSRK · 14th June 2014, 11:50

Quote:

Originally Posted by sgiitk

Yes, Brent went up to $113+, Rupee threatened Rs.60 and Sensex down 300+ points yesterday. Uncle Sam is not too keen to go in again.

Seems situation is serious in Irag as SSIS is advancing in Baghdad day-by-day. I think Oil cartels will make use of this situation and spike the crude price to make windfall gain. I'll not be surprised even if petrol peaks to Rs.80-90/ltr due to this crisis

.

Desi Dybuk · 14th June 2014, 17:56

Real or imaginary threat, the Iraq situation will be taken advantage of by the markets to push the Brent prices up. A friend in the industry in Houston TX is suggesting that their projection is 130 by year end.

sgiitk · 15th June 2014, 10:51

I have been reading $120 in most places. Also, the rupee may go into a free fall once again. As for the 0.75 it is to fund the upgrades of the 'sarkari refineries'. So this is another sin of subsidies! Whety on Petrol which is nominally free, put the cess on Kerosene, LPG and (small amount) on Diesel. Let the user pay!!

suresh_gs · 15th June 2014, 11:52

Quote:

Originally Posted by sgiitk

I have been reading $120 in most places. Also, the rupee may go into a free fall once again. As for the 0.75 it is to fund the upgrades of the 'sarkari refineries'. So this is another sin of subsidies! Whety on Petrol which is nominally free, put the cess on Kerosene, LPG and (small amount) on Diesel. Let the user pay!!

The news mentions that petrol and diesel prices will be hiked to eliminate cancer causing particle emissions by 2020. That being the case why can't the govt fund this program. Why tax the common man

sgiitk · 16th June 2014, 09:21

Quote:

Originally Posted by suresh_gs

The news mentions that petrol and diesel prices will be hiked to eliminate cancer causing particle emissions by 2020. That being the case why can't the govt fund this program. Why tax the common man

That is BSV. I hear that in BS4 the norms for Diesel, in terms of Sulphur content were relaxed (this is the main cause of micro-fine particles). Also, given the five year cycle BSV should have been in 2015 and not 2025, as now being envisaged. I suggest they do a couple of things in the meanwhile, i. Enforce BS4 across the land, and ii. Ensure unadulterated fuel esp Diesel. The bulk of the subsidized Kerosene end up here! Maybe ensure regarding BS4 diesel norms are changed to Euro4!!

sgiitk · 30th June 2014, 12:36

Now with Brent under $113 and expected to head for 110 (possibly as low as 105-108) Diesel deregulation should now be on the cards.

vivekz · 30th June 2014, 19:15

Petrol price increased by Rs. 1.69 per litre, diesel just by Rs. 0.50.

Golden opportunity lost to deregulate diesel.

MaxTorque · 30th June 2014, 19:24

Cool..Yesterday I filled my car full tank. Got a cool saving of Rs.50.

gsurya · 30th June 2014, 20:47

Is real fun going back to the comments made in this same thread over the last 2-3 years when such fuel hikes were happening

Grass. Green. Not.

Desi Dybuk · 1st July 2014, 07:25

Brent is dropping, Rupee has stabilized against Dollar. What are the OMCs crying for again??

This is nothing but subsidization of Diesel SUVs by Petrol 2-wheelers. State governments revel in loading taxes after taxes on Petrol but the common man gets no benefit out of these taxes. Instead, we get scams after scams.

sgiitk · 1st July 2014, 08:03

I think they take a look at the past fortnight only, and do not try to anticipate, so this hike is not too unexpected. Diesel has to be Rs.0.50pm as ordained. Under-recovery is up to Rs.3.70 again.

13th June 2014, 16:34	#3616
suresh_gs Senior - BHPian Join Date: Feb 2014 Location: KA-01 / TN-22 Posts: 2,158 Thanked: 1,434 Times	Re: The Official Fuel Prices Thread Let us all wait and watch the ongoing crisis in Iraq. If things go out of control of the Iraqi govt, sooner or later one can expect a BOMB in petrol price hike.
	(1) Thanks

14th June 2014, 17:56	#3621
Desi Dybuk BHPian Join Date: Apr 2014 Location: KA 25 Posts: 193 Thanked: 643 Times	Real or imaginary threat, the Iraq situation will be taken advantage of by the markets to push the Brent prices up. A friend in the industry in Houston TX is suggesting that their projection is 130 by year end.
	() Thanks

15th June 2014, 10:51	#3622
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: The Official Fuel Prices Thread I have been reading $120 in most places. Also, the rupee may go into a free fall once again. As for the 0.75 it is to fund the upgrades of the 'sarkari refineries'. So this is another sin of subsidies! Whety on Petrol which is nominally free, put the cess on Kerosene, LPG and (small amount) on Diesel. Let the user pay!!
	(1) Thanks

30th June 2014, 12:36	#3625
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: The Official Fuel Prices Thread Now with Brent under $113 and expected to head for 110 (possibly as low as 105-108) Diesel deregulation should now be on the cards.
	() Thanks

30th June 2014, 19:15	#3626
vivekz BHPian Join Date: Aug 2010 Location: Bangalore Posts: 185 Thanked: 159 Times	Petrol price increased by Rs. 1.69 per litre, diesel just by Rs. 0.50. Golden opportunity lost to deregulate diesel.
	() Thanks

30th June 2014, 19:24	#3627
MaxTorque BHPian Join Date: Mar 2012 Location: Sydney, AU Posts: 935 Thanked: 797 Times	Re: The Official Fuel Prices Thread Cool..Yesterday I filled my car full tank. Got a cool saving of Rs.50.
	() Thanks

30th June 2014, 20:47	#3628
gsurya BHPian Join Date: Feb 2008 Location: Mumbai Posts: 776 Thanked: 694 Times	Re: The Official Fuel Prices Thread Is real fun going back to the comments made in this same thread over the last 2-3 years when such fuel hikes were happening Grass. Green. Not.
	(2) Thanks

1st July 2014, 07:25	#3629
Desi Dybuk BHPian Join Date: Apr 2014 Location: KA 25 Posts: 193 Thanked: 643 Times	Brent is dropping, Rupee has stabilized against Dollar. What are the OMCs crying for again?? This is nothing but subsidization of Diesel SUVs by Petrol 2-wheelers. State governments revel in loading taxes after taxes on Petrol but the common man gets no benefit out of these taxes. Instead, we get scams after scams.
	() Thanks

1st July 2014, 08:03	#3630
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: The Official Fuel Prices Thread I think they take a look at the past fortnight only, and do not try to anticipate, so this hike is not too unexpected. Diesel has to be Rs.0.50pm as ordained. Under-recovery is up to Rs.3.70 again.
	() Thanks