[suresh_gs]

Let us all wait and watch the ongoing crisis in Iraq. If things go out of control of the Iraqi govt, sooner or later one can expect a BOMB in petrol price hike.

[sgiitk]

Originally Posted by sgiitk

Agree @sdp1975; Now I have a gut feeling that Crude may be headed north. Reason the impact (real and perceived) of ISIS who are trying to take over Iraq.

Originally Posted by suresh_gs

Let us all wait and watch the ongoing crisis in Iraq. If things go out of control of the Iraqi govt, sooner or later one can expect a BOMB in petrol price hike.

Yes, Brent went up to $113+, Rupee threatened Rs.60 and Sensex down 300+ points yesterday. Uncle Sam is not too keen to go in again.

[suresh_gs]

Originally Posted by sgiitk

Yes, Brent went up to $113+, Rupee threatened Rs.60 and Sensex down 300+ points yesterday. Uncle Sam is not too keen to go in again.

It is mentioned in today's THE HINDU (14.06.2014) that petrol and diesel pries may be hiked by Rs 0.75 each. Reason being fuel upgrade.

[sgiitk]

Originally Posted by suresh_gs

It is mentioned in today's THE HINDU (14.06.2014) that petrol and diesel pries may be hiked by Rs 0.75 each. Reason being fuel upgrade.

Noise. BS-V is planned for 2025 now! I guess our dinosaurs cannot produce it before then, even though one refinery is doing it for the past few years!

[VSRK]

Originally Posted by sgiitk

Yes, Brent went up to $113+, Rupee threatened Rs.60 and Sensex down 300+ points yesterday. Uncle Sam is not too keen to go in again.

Seems situation is serious in Irag as SSIS is advancing in Baghdad day-by-day. I think Oil cartels will make use of this situation and spike the crude price to make windfall gain. I'll not be surprised even if petrol peaks to Rs.80-90/ltr due to this crisis .

[Desi Dybuk]

Real or imaginary threat, the Iraq situation will be taken advantage of by the markets to push the Brent prices up. A friend in the industry in Houston TX is suggesting that their projection is 130 by year end.

[sgiitk]

I have been reading $120 in most places. Also, the rupee may go into a free fall once again. As for the 0.75 it is to fund the upgrades of the 'sarkari refineries'. So this is another sin of subsidies! Whety on Petrol which is nominally free, put the cess on Kerosene, LPG and (small amount) on Diesel. Let the user pay!!

[suresh_gs]

Originally Posted by sgiitk

I have been reading $120 in most places. Also, the rupee may go into a free fall once again. As for the 0.75 it is to fund the upgrades of the 'sarkari refineries'. So this is another sin of subsidies! Whety on Petrol which is nominally free, put the cess on Kerosene, LPG and (small amount) on Diesel. Let the user pay!!

The news mentions that petrol and diesel prices will be hiked to eliminate cancer causing particle emissions by 2020. That being the case why can't the govt fund this program. Why tax the common man

[sgiitk]

Originally Posted by suresh_gs

The news mentions that petrol and diesel prices will be hiked to eliminate cancer causing particle emissions by 2020. That being the case why can't the govt fund this program. Why tax the common man

That is BSV. I hear that in BS4 the norms for Diesel, in terms of Sulphur content were relaxed (this is the main cause of micro-fine particles). Also, given the five year cycle BSV should have been in 2015 and not 2025, as now being envisaged. I suggest they do a couple of things in the meanwhile, i. Enforce BS4 across the land, and ii. Ensure unadulterated fuel esp Diesel. The bulk of the subsidized Kerosene end up here! Maybe ensure regarding BS4 diesel norms are changed to Euro4!!

[sgiitk]

Now with Brent under $113 and expected to head for 110 (possibly as low as 105-108) Diesel deregulation should now be on the cards.

[vivekz]

Petrol price increased by Rs. 1.69 per litre, diesel just by Rs. 0.50.

Golden opportunity lost to deregulate diesel.

[MaxTorque]

Cool..Yesterday I filled my car full tank. Got a cool saving of Rs.50.

[gsurya]

Is real fun going back to the comments made in this same thread over the last 2-3 years when such fuel hikes were happening

Grass. Green. Not.

[Desi Dybuk]

Brent is dropping, Rupee has stabilized against Dollar. What are the OMCs crying for again??

This is nothing but subsidization of Diesel SUVs by Petrol 2-wheelers. State governments revel in loading taxes after taxes on Petrol but the common man gets no benefit out of these taxes. Instead, we get scams after scams.

[sgiitk]

I think they take a look at the past fortnight only, and do not try to anticipate, so this hike is not too unexpected. Diesel has to be Rs.0.50pm as ordained. Under-recovery is up to Rs.3.70 again.