petrol down by 25% in the States

FaeLLe · 27th November 2008, 12:13

The government should not lower fuel prices. They should cut down on issuing oil bonds (ie. reduced subsidy) and let the oil companies generate their own income by taking advantage of the reduced oil prices.

It just is not fair to pass on benefits to end consumers indefinitely... you win some you lose some.

When prices are high the government takes the hit and when prices are low in the market the consumer takes the hit.

In addition to this with inflation dropping rapidly due to lack of liquidity there is no reason to subsidize fuel prices anymore (high fuel prices can trigger inflation).

lamborghini · 27th November 2008, 13:32

Time to update the thread. Petrol is now below $2 a gallon!!!
That is around Rs 26-27 a litre!

ravibhat · 27th November 2008, 13:54

Premium fuel cut has happened in India by 1/- on Petrol and Diesel 25 paisa I guess.

Premium fuel means: IOC Extra Premium and BP, HPCL will follow the same price cut soon I hope.

Anyway its not so big move but some cut down of the price. by Jan. 2009 price cut would take place because crude is showing symptom on being around 55$.

Lets hope for best.

Regards,

Ravi.

vivekiny2k · 27th November 2008, 17:54

Quote:

Originally Posted by lamborghini

Time to update the thread. Petrol is now below $2 a gallon!!!
That is around Rs 26-27 a litre!

Quote:

Originally Posted by vivekiny2k

in US it's down by 60%.

it's 1.59 a gallon here.

akshay4587 · 27th November 2008, 20:23

Quote:

Originally Posted by ravibhat

Premium fuel cut has happened in India by 1/- on Petrol and Diesel 25 paisa I guess.

Premium fuel means: IOC Extra Premium and BP, HPCL will follow the same price cut soon I hope.

Anyway its not so big move but some cut down of the price. by Jan. 2009 price cut would take place because crude is showing symptom on being around 55$.

Lets hope for best.

Regards,

Ravi.

Even I read this in newspaper however when I went to fill fuel in the evening no one had a clue about this price cut

27th November 2008, 12:13	#31
FaeLLe Newbie Join Date: Sep 2008 Location: Mumbai Posts: 19 Thanked: 0 Times	Fuel prices should not be lowered The government should not lower fuel prices. They should cut down on issuing oil bonds (ie. reduced subsidy) and let the oil companies generate their own income by taking advantage of the reduced oil prices. It just is not fair to pass on benefits to end consumers indefinitely... you win some you lose some. When prices are high the government takes the hit and when prices are low in the market the consumer takes the hit. In addition to this with inflation dropping rapidly due to lack of liquidity there is no reason to subsidize fuel prices anymore (high fuel prices can trigger inflation).
	() Thanks

27th November 2008, 13:32	#32
lamborghini Distinguished - BHPian Join Date: Apr 2004 Location: Mumbai Posts: 6,112 Thanked: 5,760 Times View My Garage	Time to update the thread. Petrol is now below $2 a gallon!!! That is around Rs 26-27 a litre!
	() Thanks

27th November 2008, 13:54	#33
ravibhat Senior - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 2,256 Thanked: 37 Times View My Garage	Premium fuel cut has happened in India by 1/- on Petrol and Diesel 25 paisa I guess. Premium fuel means: IOC Extra Premium and BP, HPCL will follow the same price cut soon I hope. Anyway its not so big move but some cut down of the price. by Jan. 2009 price cut would take place because crude is showing symptom on being around 55$. Lets hope for best. Regards, Ravi.
	() Thanks