[sgiitk]

Originally Posted by Mohan Mathew A

Brent prices dropped down to 54 level but there has been no reduction in retail price this 15th. It seems fuel retailers can do whatever they want, no accountability

Yes, Brent is in ~$54 region, but the ₹ is down to the 63 per $ level. If the RBI cuts rates then expect 64 levels.

[Mohan Mathew A]

Originally Posted by sgiitk

Yes, Brent is in ~$54 region, but the ₹ is down to the 63 per $ level. If the RBI cuts rates then expect 64 levels.

in the 15 day period leading up to march 15 rupee dropped around 1 to 1.2 Rs to the dollar (drop of around 2%) but in the same period Brent dropped by around 7 dollars (61 to 54) which is a drop of more than 10%. So even after offsetting the drop in Rupee the price of crude has dropped in real terms.

So if the rupee drops to 64 let them increase it then, anyway it is to be revised every 15 days.

The Fed policy announcement has had a positive impact today as rupee has appreciated. RBI i don't think will cut the repo rate any more soon. it might drop the CRR requirement at the max. So i see no justification for not reducing the price

[S_U_N]

Today, petrol price in Pune was Rs. 68.42

[darklord]

Oil prices surge after Saudi air strikes in Yemen

LONDON, March 26 (Reuters) - Brent crude oil soared more than 4 percent towards $59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, which sits on a key shipping passage between Europe and the Arab Gulf.

http://www.reuters.com/article/2015/...0WS0R520150326

One hopes the Middle East isn't heading towards an all out war.

[sgiitk]

Originally Posted by darklord

Oil prices surge after Saudi air strikes in Yemen

http://www.reuters.com/article/2015/...0WS0R520150326

One hopes the Middle East isn't heading towards an all out war.

Not very likely, but at some point I do expect big operations against the ISIS/ISIL and their chums.

There were fears about two years ago that 100 a litre was imminent. There are more reserves in the world than we are let on. USA is just sitting on oil, the government's hands tied by the environmental lobby. Ditto Canada with its Alaskan deep fields. In Texas vast farmlands are being converted to oil fields. (Good luck eating petro-corn in the near future I say).
It's an increasingly held belief that there is no worry this century on oil. I don't know about that it does sound optimistic, but there are enough conspiracy theories going around I guess (including the moon landing) for this one to be just labelled outrageous.

:-)

[humyum]

Originally Posted by darklord

Oil prices surge after Saudi air strikes in Yemen

http://www.reuters.com/article/2015/...0WS0R520150326

One hopes the Middle East isn't heading towards an all out war.

The Middle east is already in an all out war, some wars are openly being fought, others through proxies but surely they are all bleeding themselves big time while the international players are chilling in their penthouses and white houses watching the show they started.

Originally Posted by sgiitk

Not very likely, but at some point I do expect big operations against the ISIS/ISIL and their chums.

I don't think so simply because these people who are the global police are actually the one's who made ISIS. Iraq and Syria are fighting for their survival because some idiots in this world thought undermining Russia,Iran and its allies was more important than lakhs being dead.

BTW chums of ISIS are called 'Rebels' by the West. See the irony? These countries will sell their mothers and integrity when came to achieving their terroristic goals.

The Houthis are going to damage a lot of Saudi oil infrastructure in the coming months.

[khoj]

I am intrigued by your post. It would be interesting to find out as to how & when did the environment lobby become stronger than the petroleum lobby. When did Canada acquire Alaskan oil fields deep or otherwise and when did farmlands take root in Texas.

Originally Posted by Taffy

USA is just sitting on oil, the government's hands tied by the environmental lobby.

Ditto Canada with its Alaskan deep fields.

In Texas vast farmlands are being converted to oil fields. (Good luck eating petro-corn in the near future I say).


It's an increasingly held belief that there is no worry this century on oil. I don't know about that it does sound optimistic, but there are enough conspiracy theories going around I guess (including the moon landing) for this one to be just labelled outrageous.

:-)

[rahulk2510]

An interesting video from Bloomberg:

$20 Oil Could Be a Reality If This Happens:

http://bloom.bg/1BoH3WZ

I don't think there is any worth in discussing this theory but can be thought of one of those Black Swan situations.

[ottocycle]

Hearing the news on tv channels that petrol/diesel might get cheaper by 1 rupee from April 1.

[gomzi]

Originally Posted by ottocycle

Hearing the news on tv channels that petrol/diesel might get cheaper by 1 rupee from April 1.

April 1? Seriously? Not doubting you, but the date has traditionally been suspicious. I even got a forward on whatsapp the toll tax for passenger cars in Maharashtra will be abolished on - you guessed it April 1.
To be honest I'm nor sure variances of +/- Rs. 1/liter makes much of a difference in a regular consumers spending unless he tanks up daily.

[ghodlur]

Came across this comparison a few days back in the TOI about the cheapest and expensive fuel rates in India.

[sgiitk]

@gomzi; remember to the babu all fools day is the start of the financial year, andhe/she forgets the rest. Fuel price changes, if any should be known today, or maybe tomorrow. These days they do not strictly follow the 1st/15th regime.

[gomzi]

Originally Posted by ghodlur

Came across this comparison a few days back in the TOI about the cheapest and expensive fuel rates in India.

Good information, thanks for sharing.
Unsurprisingly, Mumbai ranks near the top on all these surveys and not in a good way either. :banghead:

[Vitalstatistiks]

Petrol prices reduced by 49 paise, diesel by Rs. 1.21, effective midnight tonight-

http://www.thehindubusinessline.com/...cle7056712.ece