[gsurya]

Surprised we still continue to discuss fuel price anomalies on this thread.

Clearly, fuel price is NOT decontrolled in the real sense & Govt is only managing the prices at a level so that the fuel tax income is adequate to balance the budget.

If crude prices or USD-INR shoots up for any reason, then we will see what happens, until then we just have to hope it doesnt happen.

[sgiitk]

Originally Posted by VRPAI

Still can't get the logic behind this pricing. When the prices go up, the diesel prices shoot up much more than the petrol. Shouldn't it be the similar trend when the pricing goes down as well?!.

Originally Posted by gsurya

Clearly, fuel price is NOT decontrolled in the real sense & Govt is only managing the prices at a level so that the fuel tax income is adequate to balance the budget.

Strange are the ways of God, and those of our OMCs are even stranger.

Now they have been saying for quite some time that fuel prices are set by looking at 'International Price Parity' whatever that is.

If we agree with the IPP argument, considering taxation is a major price of fuel prices, obviously the state is trying to modulate the impact in its own way. I do not think full free pricing is really possible until all fuel subsidies (Kerosene and domestic LPG) are also done away with. This should be easy since the poor can be given subsidy using the Direct Benefit Transfer. I know for sure that our maids are happy with DBT in LPG since now they get the money rather than their husbands.

One must accept that at least there is a lot of road building / upgradation activity going on in some parts of the country.

[AJITHAAA]

As they say "Fine is a tax for doing wrong and tax is a fine for doing right", either way we loose. Do not waste time in trying to understand this sham, even the crooks at the helm might not be understanding this.

[ptaneja]

15th is approaching ...any news on the price change? This has become a headache now :(

[vin_b]

Originally Posted by ptaneja

15th is approaching ...any news on the price change? This has become a headache now :(

There is a good chance of further reduction if crude prices remain at current price for few more days in international market. Typically Oil marketing companies take average from 28th to 12th/13th and 12th/13th to 27th/28th of a month for their average. Due to Brexit, the crude has come down significantly and should result in drop in prices here

[sgiitk]

@ptaneja; This is a cross you have to bear and learn to live with in an 'open' economy. What about countries like the UK where fuel prices may even change twice a day. Also, there are price variations across pumps.

[gsurya]

Originally Posted by sgiitk

@ptaneja; This is a cross you have to bear and learn to live with in an 'open' economy. What about countries like the UK where fuel prices may even change twice a day. Also, there are price variations across pumps.

Funny kind of "open economy" we have, when fuel prices to consumer are still priced similar to what they were when crude was priced 3 times what it is now

[ptaneja]

Originally Posted by vin_b

Due to Brexit, the crude has come down significantly and should result in drop in prices here

What beats me the ratio in which drop is calculated. Increase would be 1rs for petrol, 3rs for diesel. But the drop would be almost at the same level for both.

Ill wait this time and see if it drops !

[shadows123]

People complain about the high prices of fuel and not falling Diesel prices(well boohoo, for ages there was a continuous increase in petrol price without any increase in diesel prices and people except for a few seemed fine then). Atleast we can see the justification of the central govt (building/relaying more NH's) in reality, Not to mention the fact that reducing the price would mean falling VAT for states and you know what that means, a permanent increase in VAT with price never dropping ever). What people dont bother questioning is something about the 6 Rs p.l price difference in state tax between KA and TN for example? No progress seen on roads, infact KA roads in general are deteriorating continuosly and there's nothing we can see which justifies this 6Rs state tax. Why not complain about that, Just saying!!

[sumzup]

Folks, there could be a downward price revision effective today midnight. Looks like a rupee minimum on petrol and around the same with diesel. This has effected due to the Brexit especially and also there has been some gains on the rupee/dollar rate. I would not be surprised if the drop is more than a rupee on petrol.
Cheers

[sairamboko]

Petrol Price cut by Rs.2.25 a litre and diesel by 0.42 paise a litre.

[bullrun87]

That's quite a reduction in petrol prices! It was kinda expected considering the global diesel prices have been almost the same while the gasoline prices have reduced significantly. If this continues for a few more months then diesel car sales will take a huge beating for sure. At a petrol vs diesel gap of just Re 8 one would need to run his diesel car about 30k kms yearly in India to breakeven!!!

[sgiitk]

Originally Posted by ptaneja

What beats me the ratio in which drop is calculated. Increase would be 1rs for petrol, 3rs for diesel. But the drop would be almost at the same level for both.

Ill wait this time and see if it drops !

You have had your wish. Big cut in Petrol minimal in Diesel.

Originally Posted by sairamboko

Petrol Price cut by Rs.2.25 a litre and diesel by 0.42 paise a litre.

In the great Ulta Pradesh due to the silly 'Floor' VAT the drop is only ₹1.76 for Petrol and 0.38 for Diesel. They need the extra cash for the Lion Safari park to kill the Lions which have to be replaced with disgusting frequency. Of course price increases are also cushioned.

[saket77]

Here in JH too, drop in petrol is just Rs. 1.76 and 0.44 p for diesel despite a bigger cut announced.

Petrol is now Rs. 65.16 and diesel is retailing at 57.64.

[StarScream]

http://www.bloomberg.com/graphics/ga...d-States:USD:g

We are right up there with China, Canada, Mexico and South Africa but not the most expensive like Europe and not the cheapest either like the US and Russia.