[ILTDrive]

Originally Posted by saurabhkum

The justification given by the pump was that they are making profit on sale ( due to recent cut in Crude rates) hence they are able to get this done.

Sounds too good to be true in my opinion. If they are making profit, why would they want to undercut their profits? My take, they had a lot of old/excess stock of the premium brand and hence were trying to clear stock. Another possible reason, it may not have been the premium at all and they were only taking stock of how many people may actually go for it. Did the bill mention it to be premium fuel? Too many questions make me think something is amiss, or is it just me?

[saurabhkum]

Originally Posted by ILTDrive

Sounds too good to be true in my opinion. If they are making profit, why would they want to undercut their profits? My take, they had a lot of old/excess stock of the premium brand and hence were trying to clear stock. Another possible reason, it may not have been the premium at all and they were only taking stock of how many people may actually go for it. Did the bill mention it to be premium fuel? Too many questions make me think something is amiss, or is it just me?

The petrol was filled from the Xtra premium nozzle itself and also the bill was made for same Xtra Premium. The IOC pump at Breach candy has pretty good reputation so I don't think there will be any cheating issue.

[khoj]

That pump is called "Top Gear" and is indeed a good pump. This sounds like some it's sort of marketing/customer survey exercise and they have seem to have given some vague response to your brother. I hope that you guys can visit / fill up from there again and provide an update hopefully after interacting with the pump manage on the subject.

Originally Posted by saurabhkum

Have the OMC's started selling their premium fuel at discounted rate? Yesterday My Brother took his car at Indian Oil outlet at Breach Candy, their the attendant told him that he can fill Xtra Premium petrol at the same rate as normal petrol. He filled some 38 Ltrs of Petrol and he was charged the same price as normal petrol. After filling they took his sign on one register where they where maintaining some sort of log. Has anyone else heard this kind of stuff. I tried searching on net about any such offer but couldn't find it. The justification given by the pump was that they are making profit on sale ( due to recent cut in Crude rates) hence they are able to get this done.

[VeluM]

I had a similar experience at a Shell pump in CV Raman Nagar (BLR) a while ago. They were selling their premium fuel at a Rs.2 premium over regular. Unfortunately since I hadn't planned for a top-up, just put in few hundreds worth at that time.

[sgiitk]

Logically the differential between premium and normal should be in the Rs2-3 range, the cost of adding System G. After BS-III all petrol is the same RON (except for 97RON)

The basket is down to $77 so expect some cuts. I saw a report that unless OPEC cuts production fast Brent may drop to as low as $60!

[ILTDrive]

Originally Posted by sgiitk

The basket is down to $77 so expect some cuts. I saw a report that unless OPEC cuts production fast Brent may drop to as low as $60!

wouldn't that be awesome for the brent to be down at $60? I doubt though that it would be allowed to get to that levels, also if that happens, we need to be prepared for more increases in the taxes to ensure that shocks when the fuel prices go up can be avoided.

[saket77]

A possibility of Rs. 2/- per liter cut on petrol and diesel is doing rounds on online news channels.
Link: http://aajtak.intoday.in/story/petro...-1-789064.html

[ILTDrive]

Originally Posted by saket77

A possibility of Rs. 2/- per liter cut on petrol and diesel is doing rounds on online news channels.
Link: http://aajtak.intoday.in/story/petro...-1-789064.html

Shell recently reduced their diesel price by 50nps, and they are normally around a Rs.1.50 more than PSU fuel range, so this news may be true. I will hold off on my refuel till end of the month

[mukeshgoel]

Haryana has increased VAT on diesel.

So now diesel price in Haryana has gone to Rs.53.19 as compared Rs.52.23 earlier.

[vinair]

Looks like the golden era of petrol is all set to spring back to life, if this article from NDTV is to be believed!!

"Crude oil prices have dropped over 30 per cent in just six months forcing the 12-member OPEC to seriously think about a production cut. Members of the Organization of the Petroleum Exporting Countries (OPEC), which account for nearly 40 per cent of global oil output, will meet on Thursday to decide future course of action"

Full Article - http://profit.ndtv.com/news/economy/...es-true-704402

Note from Support - Post moved to an already existing thread. Please avoid creating new threads and continue discussions in an existing thread. This keeps all the relevant content in one place for quick reading.

[anujmishra]

Originally Posted by vinair

Looks like the golden era of petrol is all set to spring back to life, if this article from NDTV is to be believed!!

I believe this is short term benefit that we as consumer having it. Sooner the OPEC nation will agree and create artifical shortage of crude oil and it will increase the price. They can control the price till when they feel comfortable. I think we should not overjoy with this reduction of prices, the same way it is reduced, it will be increased as well. In past we had seen many increases and very few decreases in price.

Yes, this is best time for those long haul trips in car to save extra bucks.

[poloman]

Originally Posted by anujmishra

I believe this is short term benefit that we as consumer having it. Sooner the OPEC nation will agree and create artifical shortage of crude oil and it will increase the price. They can control the price till when they feel comfortable. I think we should not overjoy with this reduction of prices, the same way it is reduced, it will be increased as well. In past we had seen many increases and very few decreases in price.

Yes, this is best time for those long haul trips in car to save extra bucks.

Not going to happen till US cuts down shale gas production.

[ILTDrive]

Originally Posted by anujmishra

Yes, this is best time for those long haul trips in car to save extra bucks.

What you save in fuel, you end paying in tolls, and in some cases tolls for nonexistent roads as well. But that is a different story all together.

However, I agree with you on the trips part. Time to use the car MORE

[el lobo 6061]

Originally Posted by anujmishra

I believe this is short term benefit that we as consumer having it. Sooner the OPEC nation will agree and create artifical shortage of crude oil and it will increase the price.

This trend is going to continue till Brent Crude reaches $70. IIRC shale break evens at $70 and if you have availability of crude near it, doesn't make sense to invest in shale exploration.

That is why Saudi Arabia is bearing huge losses for short term to prevent shale gas exploration in USA.

Also even if OPEC makes a cut in production there are more suppliers ready to supply you. Currently Non-OPEC supplier are more than willing to gain market share at expense of OPEC supply cut. I don't see any cut in production in short term, just crude stabilizing around $70.

Because of the above we had following
1. Diesel deregulation
2. Fuel rates cuts

[humyum]

Originally Posted by el lobo 6061

This trend is going to continue till Brent Crude reaches $70. IIRC shale break evens at $70 and if you have availability of crude near it, doesn't make sense to invest in shale exploration.

That is why Saudi Arabia is bearing huge losses for short term to prevent shale gas exploration in USA.

Also even if OPEC makes a cut in production there are more suppliers ready to supply you. Currently Non-OPEC supplier are more than willing to gain market share at expense of OPEC supply cut. I don't see any cut in production in short term, just crude stabilizing around $70.

Because of the above we had following
1. Diesel deregulation
2. Fuel rates cuts

Completely agree, Saudi Arabia won't jeopardize its market share for anything in this world. Tomorrow I believe there won't be any cutting of production during the OPEC meeting. If there is a cut, share market will fall like someone threw a stone from the Empire State Building.