[shankar.balan]

Originally Posted by carboy

I don't understand the question.

Purely rhetorical...the only viable alternatives if we find petrol too expensive, are to reduce driving here and there as much as possible and/ or switch to electric or a bicycle.

[lurker]

Originally Posted by Aditya_Bhp

This thread used to be very active when fuel prices used to change every fortnight. There were increases and decreases of 40 to 50 paisa per liter. And people used to discuss this.

Ever since fuel price revisions became a daily affair, people started ignoring this, and hence stopped discussing. Even this thread had become inactive.

This has enabled the govt to adjust fuel prices up and down without any public outcry. Anyway, nothing has changed, even with the new system, fuel is still more expensive today vs one year before.

https://www.livemint.com/news/india/...763081189.html

problem then and problem now is that the govt of the day through its bureaucrats are using or to put it better abusing fuel pricing mechanism for financing their budget deficit. The joke is on the consumer because one way or another the consumer has to pay for govt deficit and misperformance. Fuel sold by IOC to Nepal and Bhutan is sold at retail prices in those countries for ₹60/l for diesel and ₹68/l for petrol.

[itwasntme]

Amazing that the Trump administration has suddenly escalated the Iran confrontation by killing Qasem Soleimani, the head of the Iranian Revolutionary Guard Corps-Quds Force, and that too in Baghdad being the capital of a supposedly sovereign country!

I dread what fuel prices are going to reach very soon. Relatively simple for Iran to cut off the Persian Gulf!

https://www.politico.com/news/2020/0...an-iraq-093102

[HsekarK]

Originally Posted by itwasntme

The Trump administration has suddenly escalated the.. by killing Qasem Soleimani, .. that too in Baghdad ..

I dread what fuel prices are going to reach very soon. Relatively simple for Iran to cut off the Persian Gulf!

https://www.politico.com/news/2020/0...an-iraq-093102

Please do not panic.

Though it is possible that Iran would try to retaliate by 'trying' to cut off oil supply, but since this attack was on a political 'institution' per se, Iran would want to ideally reply in kind. Cutting off supply is not entirely a step towards that goal.
Also, since we are not a political forum, would want to add a relevant comment here.

Has anyone noticed that the prices lately, have gone back to near their highest levels in the last 7 years?


Regards,

[vrprabhu]

Originally Posted by HsekarK

Has anyone noticed that the prices lately, have gone back to near their highest levels in the last 7 years?

Is that so? I filled up today @ 78.60 per litre of petrol. I remember having paid Rs. 87+ per litre in October 2018. I agree that the prices have been steadily climbing and it hasn't attracted much attention....

[condor]

Originally Posted by HsekarK

Has anyone noticed that the prices lately, have gone back to near their highest levels in the last 7 years?

And very likely to go further up for some time. Military action esp in mid-east likely to get escalated

[romeomidhun]

Originally Posted by vrprabhu

...it hasn't attracted much attention....

They have a good policy - whenever there is an issue that will be affecting the people, they will "create" another one which will attract even more attention. People and media are getting "diverted" from all their issues to some "planned routes".

[itwasntme]

Originally Posted by HsekarK

Please do not panic.

Not panicking at all, just expressed my apprehensions. Unlike the usual cycle of drone killings, the victim was a highly influential military + special forces + political + quasi-religious commander and this is a targeted message to the Ayatollah himself.

Iran and it's many affiliates including Hezbollah is unlikely to hold back their response. While the recent Saudi oilfield / tanker attacks were calculated and orchestrated, here the reins may not be so tightly held.

[mukeshgoel]

Petrol prices cut sharply today, now lowest in over 2 months

Petrol and diesel prices were cut sharply today, according to Indian Oil website. The price of fuel has been on a declining trend over past 15 days. In Delhi, petrol prices were cut by 30 paise to ₹73.86 a litre, the lowest rate in over two months. Diesel prices were lowered by 35 paise to ₹66.96 a litre in Delhi today. Domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis.

In Mumbai, petrol today retailed at ₹79.47 a litre and diesel at ₹70.19 a litre. In Chennai, petrol prices were cut to ₹76.71 a litre and diesel to ₹70.73 a litre. In Kolkata, petrol and diesel prices were at ₹76.48 a lite and ₹69.32 a litre respectively.

Source

[RM Motorsports]

In Thackeray govt’s first budget, diesel, petrol prices hiked by Re 1 in Maharashtra.

While no new levies have been proposed, the budget has hiked diesel and petrol prices by Re1 per litre to create a ‘Green Fund’. This, Pawar said, will account for Rs 1,800 crore, which will be used only for green initiatives.

https://timesofindia.indiatimes.com/...w/74520931.cms

[carboy]

International oil prices have fallen down to 45$ a barrel, but we are still paying 77 Rs a litre for petrol. Even if oil price falls to 30$, we will not see much diff at the pump.

[wildsdi5530]

Karnataka is going to raise the prices of fuel by 1.60 - 1.75 per liter of petrol and diesel. This is to fund farm loan waivers and other populist schemes.

[sairamboko]

Oil falls down to $31, a 31% drop as OPEC and Russia engage in a price war.
Will we see any drastic price cut benefits?

https://economictimes.indiatimes.com...w/74544022.cms

[carboy]

Originally Posted by sairamboko

Oil falls down to $31, a 31% drop as OPEC and Russia engage in a price war.
Will we see any drastic price cut benefits?

How drastic would you consider a 24 paise price cut?

[strawhat]

I am pretty sure state/central govt.'s will never let prices fall below 70/- and 65/- for petrol and diesel respectively. The govt.'s strategy is to announce a 1-2 rupee price cut once in a while to appease the masses which in the long term will offset price increases every budget in the name of <insert your own tax name> tax. This strategy is working well for all parties (except one of course).

I have long put the hope of seeing petrol/diesel come under GST, to rest. The day might come in future if income tax fund becomes surplus, which you and I know the chances of. Anyway that is a topic for another day. For now, if you can excuse me, I have to go to petrol bunk to refill my bike .