[zalaps]

Originally Posted by adimicra

That was exactly my point.. when there is a huge cooling down of crude prices, why are they delaying the reduction in petrol price? This is cheap stuff from the OMCs to make some money. They would be making additonal profit of 3-4 Rs/liter of petrol.

It's just like Home Loan Institutions. They hike interest rates immediately after RBI's hike in different rates. But rate redution do not come that easily.

[suresh_gs]

Good news Folks

http://profit.ndtv.com/news/industri...0-paise-598668

[Desi Dybuk]

What a joke! Crude prices are falling, Rupee is stable against Dollar & the price reduction is a lollypop of 1Rs??

As I had said earlier, Petrol isn't de regulated: it's only cross-subsidies Diesel.

What a farce...

[hellmet]

The 1.09/- reduction in prices is after taxes, so it's only 90 paise actual reduction. This article clearly mentions that it is to create a feeling of a larger price cut.

Oil companies as practice announced price revisions without including local levies but today in case of petrol the reduction was announced after including local levies so as to boost up the headline cut.

[gsurya]

Originally Posted by hellmet

The 1.09/- reduction in prices is after taxes, so it's only 90 paise actual reduction. This article clearly mentions that it is to create a feeling of a larger price cut.

The utter hypocrisy is Petrol reduction is announced WITH taxes for the first time ever, but Diesel hike is without! Both to create impression of larger reduction & smaller hike.

[lurker]

petroleum pricing in India is a big scam to allow some companies like Reliance to make huge profits quarter-on-quarter and sustain those numbers in any event. We are not dealing with a fair pricing system here.

90 paise reduction in petrol can be more than made up with 50 paise increase in diesel. Btw the diesel loss is only notional, they are making huge profit with diesel also. India will never get a govt that is not beholden to private corporations. The corporations like Reliance are just benamis for international players like Rockefeller Chevron and other American corporates. They will put pressure on the govt for continuous oil price hikes into eternity, and these guys do not have the fibre to resist that.

[Mohan Mathew A]

THe price reduction of petrol was a joke. It should have been a minimum of 2 to 2.50 before taxes. we all have been taken for a royal ride

[extreme_torque]

Voted for 'Acche Din' campaign sponsored by ahem ahem. Now suffer.

[RSR]

This is shameful and disgusting! Petrol users still don't get the benefit of the supposed "de-regulation".

Originally Posted by lurker

Petroleum pricing in India is a big scam to allow some companies like Reliance to make huge profits quarter-on-quarter and sustain those numbers in any event. We are not dealing with a fair pricing system here.

India will never get a govt that is not beholden to private corporations. The corporations like Reliance are just benamis for international players like Rockefeller Chevron and other American corporates.

I agree that governments in India are (and always have been) controlled by vested interests of various kinds.

The international oil mafia is indeed a vile, greedy bunch of profiteers. In addition to the ones you mentioned, there are other equally notorious ones - like the mediæval Middle Eastern oil sheikdoms and others, such as the bloodthirsty diabolical mafiosi who run the rogue Russkie empire.

[supremeBaleno]

@RSR, what is the Russian connection to Indian fuel prices ?

[aravind.anand]

How is it fair to announce price increase 'without taxes' and price cuts 'inclusive of taxes'?

However, a reduction is always welcome!

As for the diesel, if crude oil prices are actually falling, why increase the cost by 50 paise now?

[RSR]

Originally Posted by supremeBaleno

@RSR, what is the Russian connection to Indian fuel prices ?

Maybe not to Indian prices directly, but certainly to global fuel prices, which of course has a huge effect on India, as ~ 80% (maybe more) of Indian oil needs are imported. The Russkies, along with OPEC cartel members, run their thuggish totalitarian tyrannical regimes mainly (or even solely) on the basis of an artificially high crude price in the international market.

They do all they can to keep it artificially high. If global crude prices were to fall to its natural level (much, much lower than current prices), many of those regimes would soon collapse, following a collapse of their economies.

[saket77]

Is it some kind of a joke? Must not be. First we are expected to pay for overpriced fuel due to taxes on our already taxed money. Then we are forced to pay more even in a so called 'de-regulated' market for petrol. Like the Govt. itself black marketing petrol. And if that was not too much to take, this is the message I get on my cell phone from my LPG distributor:

Want to join nation building? Its simple - just give up LPG subsidy. Visit *****.co.in or distributor for details.

[supremeBaleno]

Actually I got the same SMS a few minutes ago, asking to join the nation-building effort by giving up LPG subsidy.

[gsurya]

Originally Posted by aravind.anand

As for the diesel, if crude oil prices are actually falling, why increase the cost by 50 paise now?

Diesel underrecovery is now under Rs 1.50. So if this trend persists we should have full diesel decontrol in a couple of months.

However, to fund Euro-V fuel upgrades to the refineries Govt will need another 60k cr, this will require a few rupees increase to fuel price in coming months.