[Torque123]

The price cut is not specific to Karnataka. It is all over the country.

Also, the decrease by Rs 3/- is excluding taxes.

http://profit.ndtv.com/news/commodit...-lateststories

[hrman]

http://www.dnaindia.com/india/182903...-from-midnight Quote form DNA. Good news for Petrolheads.

[thoma]

Originally Posted by srinath34

Hi Raj, I saw this news on the local News9 channel so I guess this reduction is Bangalore specific.

I don't think it is Bangalore specific. http://zeenews.india.com/business/ne...tre_75194.html

Now petrol is only dearer by almost 14/- to diesel. Isn't the proposed 10/- to 11/- disparity between petrol and diesel by the oil-companies closing up?

[aim120]

Originally Posted by thoma

Isn't the proposed 10/- to 11/- disparity between petrol and diesel by the oil-companies closing up?

It is ,thats why oil companies are not reducing diesel prices.

Too bad none of political parties in karnataka are giving a good election offer like they did in Goa.

[drmohitg]

So as the election time is closing up oil prices are going down. The usual drama of our political class. I am guessing that the next few months are going to be good for us car owners.

[Redline6800]

Petrol prices were lowered by Rs 3 from midnight last night, in a welcome move. This was the 4th Petrol price cut in the last 2 months and will provide some relief to petrol car owners.

According to Moneycontrol.com, the new prices are as follows:

Delhi - Rs 63.09 (Diesel - Rs 48.63)
Calcutta - Rs 70.48 (Diesel - Rs 52.86)
Mumbai - Rs 69.88 (Diesel - Rs 54.87)
Chennai - Rs 66.08 (Diesel - Rs 51.78)

The last time the price of Petrol was reduced by this magnitude was in December 2008, when there was a reduction of Rs 5.

According to Indian Oil Corporation (IOC), International prices have declined per barrel from USD 116.61 to USD 107. This along with an improved Rupee-US Dollar exchange rate (from Rs 54.51 to Rs 54.26) has resulted in the reduction of petrol prices.

[byomjeet]

With petrol prices coming down and diesel going up, the gap between the two is gradually narrowing. Should we expect a difference of prices between the two would be less than Rs. 10/- in the coming months?

Should the people, who are planning to buy diesel cars, take a re-look at their plan? I am one of those as I am planning to go for a diesel car of Rs. 10L.

I the days to come, the Government is definitely going to have some sort of mechanism to sale diesel at a higher cost to the private diesel cars users and cheaper diesel for commercial use.

Should we now think 20 times before buying a disel car, even if the usage is more than 2000 KMs in a month?

[mohan41]

Originally Posted by byomjeet

With petrol prices coming down and diesel going up, the gap between the two is gradually narrowing. Should we expect a difference of prices between the two would be less than Rs. 10/- in the coming months?

I think it is unlikely that the difference will go below Rs.10. Apparently the loss on diesel is about Rs.4 per liter now (http://www.moneycontrol.com/news/bus...md_861825.html). Which means the price of diesel would go up by at most Rs.4 if raised immediately, in which case the difference between petrol and diesel would be around Rs.11 to 12. I don't know the exact reason why this difference exists, guess it is probably some difference in the taxes.

[gomzi]

Originally Posted by mohan41

I think it is unlikely that the difference will go below Rs.10. Apparently the loss on diesel is about Rs.4 per liter now (http://www.moneycontrol.com/news/bus...md_861825.html). Which means the price of diesel would go up by at most Rs.4 if raised immediately, in which case the difference between petrol and diesel would be around Rs.11 to 12. I don't know the exact reason why this difference exists, guess it is probably some difference in the taxes.

A friend mentioned to me today that the US would be self sufficient on oil in the next few years. I haven't verified this, but if it's true wouldn't global oil prices go down? In which case we might be able to see lesser gap in petrol and diesel rates. Any thoughts?

[eyesice]

Till last year, the govt had umpteen reasons to skyrocket the petrol prices to a new level. So how are they reducing it now? Why nobody in the media brings up such a question? Still the price of Crude oil is hovering around the 100$ mark.

[superutp]

Filled up petrol for 68.8X from HP Petrol Pump in HSR. Pleasant surprise seeing it below the 70 mark.

For the first time I have filled ' cheap ' petrol in my 15 month old Beat!

[sgiitk]

Originally Posted by Redline6800

According to Indian Oil Corporation (IOC), International prices have declined per barrel from USD 116.61 to USD 107. This along with an improved Rupee-US Dollar exchange rate (from Rs 54.51 to Rs 54.26) has resulted in the reduction of petrol prices.

Now brent is at $100 and the rupee better than Rs.54 per dollar. The oilcos must be having some long term contracts so the drop may be less steep for them.

Originally Posted by mohan41

I think it is unlikely that the difference will go below Rs.10.

I thought the same but it seems in Goa Diesel is Re.0.01 costlier than Petrol! As per khoj on another forum

GOA Petrol now costs Rs. 51.58 per liter

GOA Diesel now costs Rs. 51.59 per liter

Saw a good silly thing in a local paper. A new item was cribbing that Petrol is costlier than ATF. Of course they do not realise that ATF is Kerosene!!

[sujithpnair]

The strange subject here is, one side oil companies are claiming loss while selling diesel, but other hand their balance sheet shows awful profits!

One can debate this by quoting govt subsidy, hence positive numbers in balance sheet.
But if it is evident that profit figures are larger than the claimed loss. Govt. is less sensitive to feelings of "aam aadmi" (general public), since none of the officials have to visit fuel stations. Means, who ever makes/ proposes rules (Govt. officials as well as corporate - oil companies), they never bother what the current fuel price is or what the mileage or so - they always aureate with full tanked vehicle!

Unless these folks are accountable to what they spend during their tenure, general public always sees discrimination and injustice.

The current movement is clearly political gimmick looking at state election and later 2014 parliament one. As somebody mentioned here, the crude oil price is still hovering around $100/ barrel.

Lighter side: Made me so happy when I saw petrol price less than 70 in Bangalore and immediately filled up full tank - 39L, INR.69.38 per liter.

[rock75]

If this trend of raising diesel prices and falling petrol continues the mad rush for diesel cars will stop. Whatever premium we are paying for petrol is due to higher sales tax which is as high as 33% in some states while Goa has abolished it and therefore petrol is around Rs 52 per litre in Goa.

[Soumyajit9]

Originally Posted by superutp

Filled up petrol for 68.8X from HP Petrol Pump in HSR. Pleasant surprise seeing it below the 70 mark.

For the first time I have filled ' cheap ' petrol in my 15 month old Beat!

I tanked up my Beatie @ Shell, Siddapura outlet (my regular outlet since 2 years), today morning.

Guess what: Shell Unleaded Petrol - Rs.68.80/litre only !!! That's Pure Unadulterated Fuel at par with the HP / BP/ IO and other Indian counterparts !!

So basically a peaceful and pocket happy tankup with no antics by attendants + Free Air.
A nice way to start a day !!

P.S: I thought that the Rs.3/l cut in Petrol price was applicable to only HP / BP /IO. Seems Shell has also reduced their prices drastically.

EDIT::

Originally Posted by sujithpnair

Lighter side: Made me so happy when I saw petrol price less than 70 in Bangalore and immediately filled up full tank - 39L, INR.69.38 per liter.

Hey Sujith,
Hell No !!! Which pump did you fill petrol at ?? If HP/BP/IO, then I am shocked !! Shell prices lower that HP/BP/IO ??