The Official Fuel Prices Thread

Hayek · 16th February 2013, 10:23

As I have said before, the so called 45 p per month increase is a half measure, which in all likelihood will not lead to a material decrease in the diesel subsidy. Noone seems to realize the consequences of the Goi's spending binge - investment has frozen and all the smart money is looking for ways outside India. It looks like it will take a 1991 style crisis or worse before the government wakes up and gets real.

avi550m · 16th February 2013, 12:24

Filled up with Shell Regular Unleaded today. Was the same price as before @ Rs. 74.10. Would recommend you fill at Shell to beat the Petrol hike, at least today. Don't know when they will increase prices

romeomidhun · 22nd February 2013, 11:51

Brent prices fell sharply in international markets to $114. Any chance these beggars reduce the Petrol prices?

sgiitk · 22nd February 2013, 13:53

Quote:

Originally Posted by romeomidhun

Brent prices fell sharply in international markets to $114. Any chance these beggars reduce the Petrol prices?

At the same time the Rupee fell from Rs.53 per dollar to 54.50. Also, now a hike in the Road Surcharge (currently Rs.2 per litre) is on the radar. Also, with a high possibility of a credit rating downgrade (esp if the FSA is implemented) expect the Rupee to fall to the 60-65 range wrt the $.

windsurfer · 26th February 2013, 19:41

Fuel prices to be revised as a result of fuel price revision recently :-)

Quote:

Bansal said the increase in diesel prices last month had added Rs 3,330 crore to Railway's fuel bill.

Quote:

The increase in retail rates of diesel, LPG and kerosene that is needed because of the freight increase is yet to be calculated.

More details at :
http://economictimes.indiatimes.com/...w/18695175.cms

sgiitk · 27th February 2013, 09:40

There may be a freight hike, and a customs duty hike coming. Rupees was again down to 54+ yesterday. Only rosy thing is that Cride is down to 114-/94- levels. I hope they hike diesel beyond the 50p Laxman rekha if the hikes come.

mjothi · 1st March 2013, 18:04

Congratulations. Petrol price has been raised by another 1.4rs from today midnight.

Waiting for the 3 digit mark soooon.

addyhemmige · 1st March 2013, 18:13

Quote:

Originally Posted by mjothi

Congratulations. Petrol price has been raised by another 1.4rs from today midnight.

Waiting for the 3 digit mark soooon.

Wow!! at this pace, the 3 digit number will be here soon. What is the new retail price for petrol in Bangalore now? Any idea if diesel price has been increased?

ravib · 1st March 2013, 18:22

Quote:

Originally Posted by mjothi

Congratulations. Petrol price has been raised by another 1.4rs from today midnight.

Waiting for the 3 digit mark soooon.

Ooops. Here is the link. No hike in diesel price.

http://profit.ndtv.com/news/industri...1-40-318835=ch

-Ravi

drmohitg · 1st March 2013, 18:23

Just logged and surprised to see a price hike so soon. That too a good 1.4 Rs. Add local taxes to it and its an even bigger amount. Where are we really headed? Has the world oil scenario become so shaky that every fortnight we need to increase the prices of fuel by a handsome chunk? For all these years there was enough oil and suddenly in the last 3-4 years there has been this sudden increase in demand?

Finally isn't it time for the Govt to start reassessing its priorities. Running schemes for the larger good ( only on paper most of the times) is ok, but there has to be a balance at some point. Is there any sanity left/expected out of the fuel pricing in India?

mjothi · 1st March 2013, 18:27

Quote:

Originally Posted by addyhemmige

Wow!! at this pace, the 3 digit number will be here soon. What is the new retail price for petrol in Bangalore now? Any idea if diesel price has been increased?

Diesel was hiked last month 15th. And was announced that it will be hiked every month at 50paise. So, we can expect the diesel hike in 2 weeks.

ghodlur · 2nd March 2013, 11:25

Death knell sound for the petrol cars sounding louder with every passing day. The hike of Rs 1.4 close on the heels of the hike last month is steep indeed. Luckily i got my car refilled y'day and the price in Thane was Rs 75.20, with the recent hike it crossed Rs 77 mark. My car will be staying in the garage for a longer time now.

NPV · 2nd March 2013, 16:15

Quote:

Originally Posted by addyhemmige

Wow!! at this pace, the 3 digit number will be here soon. What is the new retail price for petrol in Bangalore now?

Damn, petrol was Rs.76.04 previously and is now Rs.77.70 in Bangalore as per today's newspaper
What I fail to understand is that since this hike is being attributed to the falling rupee and rising crude oil prices, how can it not result in an increase of Diesel price as well ? I know about the already announced 50p per month hike for Diesel which is a rationalisation exercise but shouldn't this ad-hoc increase also be applied on Diesel pricing, otherwise the gap is going to continue and there will never be a time when the rationalisation exercise will end

Too much fine print goes into the pricing games (aka strategy/subsidy/rules) and our governments know how to play the game to their advantage, to hell with the mango man seems to be their only motto!

romeomidhun · 2nd March 2013, 17:40

Brent oil prices are at $111, and these stupids keep on increasing the oil prices here!

a_myth · 2nd March 2013, 21:40

Due to the government, still paying Rs. 58.50/ litre for petrol here in Goa

.
However not sure how long the prices are going to be steady below the Rs. 60 mark.

With a ban on mining and the resulting shortfall in revenue collection, the govt is in doldrums.

16th February 2013, 10:23	#2956
Hayek Distinguished - BHPian Join Date: Jul 2011 Location: Bombay Posts: 1,964 Thanked: 16,000 Times	As I have said before, the so called 45 p per month increase is a half measure, which in all likelihood will not lead to a material decrease in the diesel subsidy. Noone seems to realize the consequences of the Goi's spending binge - investment has frozen and all the smart money is looking for ways outside India. It looks like it will take a 1991 style crisis or worse before the government wakes up and gets real.
	(1) Thanks

16th February 2013, 12:24	#2957
avi550m BHPian Join Date: Oct 2009 Location: Bangalore Posts: 253 Thanked: 308 Times	Re: The Official Fuel Prices Thread Filled up with Shell Regular Unleaded today. Was the same price as before @ Rs. 74.10. Would recommend you fill at Shell to beat the Petrol hike, at least today. Don't know when they will increase prices
	(1) Thanks

22nd February 2013, 11:51	#2958
romeomidhun Senior - BHPian Join Date: Nov 2007 Location: IN Posts: 3,329 Thanked: 5,116 Times	Re: The Official Fuel Prices Thread Brent prices fell sharply in international markets to $114. Any chance these beggars reduce the Petrol prices? Attached Thumbnails
	(1) Thanks

27th February 2013, 09:40	#2961
sgiitk Senior - BHPian Join Date: Dec 2007 Location: Gurugram Posts: 7,971 Thanked: 4,799 Times	Re: The Official Fuel Prices Thread There may be a freight hike, and a customs duty hike coming. Rupees was again down to 54+ yesterday. Only rosy thing is that Cride is down to 114-/94- levels. I hope they hike diesel beyond the 50p Laxman rekha if the hikes come.
	() Thanks

1st March 2013, 18:04	#2962
mjothi Senior - BHPian Join Date: Dec 2007 Location: Bangalore Posts: 3,290 Thanked: 232 Times View My Garage	Re: The Official Fuel Prices Thread Congratulations. Petrol price has been raised by another 1.4rs from today midnight. Waiting for the 3 digit mark soooon.
	() Thanks

1st March 2013, 18:23	#2965
drmohitg Distinguished - BHPian Join Date: Sep 2010 Location: Liverpool/Delhi Posts: 5,448 Thanked: 7,563 Times	Re: The Official Fuel Prices Thread Just logged and surprised to see a price hike so soon. That too a good 1.4 Rs. Add local taxes to it and its an even bigger amount. Where are we really headed? Has the world oil scenario become so shaky that every fortnight we need to increase the prices of fuel by a handsome chunk? For all these years there was enough oil and suddenly in the last 3-4 years there has been this sudden increase in demand? Finally isn't it time for the Govt to start reassessing its priorities. Running schemes for the larger good ( only on paper most of the times) is ok, but there has to be a balance at some point. Is there any sanity left/expected out of the fuel pricing in India?
	() Thanks

2nd March 2013, 11:25	#2967
ghodlur Senior - BHPian Join Date: Sep 2009 Location: Thane Posts: 6,131 Thanked: 4,476 Times View My Garage	Re: The Official Fuel Prices Thread Death knell sound for the petrol cars sounding louder with every passing day. The hike of Rs 1.4 close on the heels of the hike last month is steep indeed. Luckily i got my car refilled y'day and the price in Thane was Rs 75.20, with the recent hike it crossed Rs 77 mark. My car will be staying in the garage for a longer time now.
	() Thanks

2nd March 2013, 17:40	#2969
romeomidhun Senior - BHPian Join Date: Nov 2007 Location: IN Posts: 3,329 Thanked: 5,116 Times	Re: The Official Fuel Prices Thread Brent oil prices are at $111, and these stupids keep on increasing the oil prices here! Attached Thumbnails
	() Thanks

2nd March 2013, 21:40	#2970
a_myth BHPian Join Date: Dec 2008 Location: Goa Posts: 134 Thanked: 85 Times	Re: The Official Fuel Prices Thread Due to the government, still paying Rs. 58.50/ litre for petrol here in Goa . However not sure how long the prices are going to be steady below the Rs. 60 mark. With a ban on mining and the resulting shortfall in revenue collection, the govt is in doldrums.
	(1) Thanks