[Mohan Mathew A]

Originally Posted by khoj

What about the US$ that has firmed up against the Rupee ?

I have made a reference to rupee rate in my post. i see no major changes in rupee to offset the 3 to 4 dollar dip in crude
Either way i see no purpose in this discussion as oil companies seem to be a law unto themselves and as of now it looks like nothing or nobody can stop them

[sumzup]

Originally Posted by Mohan Mathew A

Ideally it should come down as the Brent prices has come down from around 67-68 to 64 USD/barrel and rupee has more or less remained around the same; at least i see no reason for it being increased. But with these PSU oil companies there is no guarantee, for all you know they could increase it.

Originally Posted by civic-sense

Today is 15th and time for the next price revision. Any predictions on whether it would go up or down? I resisted the temptation to tank up in the morning hoping it would come down this time.

I wonder whether the media would hush up the hike like last time.

Hi
There should not be any increase as pointed out by our fellow bhpians. Also, the hike that was done last month, in my opinion, is a cushion that should last till the next elections in Bihar. So, there would not be any decrease as well. But again, as mentioned by our friends one can never understand the politics

[napster1311]

Diesel reduced by Rs 1.35 and Petrol hiked by Rs 0.64. Via Twitter NDTV

[sourav9385]

Here we go again!

Petrol Price hiked, Diesel price reduced

Getting ridiculous now. I can barely see any correlation between brent, USD, and fuel pricing in our country.

[SunnyBoi]

Day by day it seems like its a crime to own a petrol car and a petrol bike. No hope left for us dwindling petrolheads

I would really like to hear out the logic of increasing petrol prices while dropping the diesel price by twice the same amount.

[RSR]

Oh! So they're not even making any attempt to hide it now.

This move makes it crystal clear (to anyone who still wanted to live in denial) that subjecting petrol users to extortion / daylight robbery has been made the official policy:

See that tea-seller with his large stainless steel tea jug on the back of his shaky moped? Or that self-employed plumber/carpenter/electrician with his bag of tools on his rusting 100cc commuter bike? Or that college-going girl on her scooter? Go ahead, and extort them! They won't resist or fight back, they won't call for a strike, they won't throw rocks & damage property, and they won't even raise their voice against this injustice. So go ahead and extort the hell out of them!

What can I say?

The ones who are responsible for this grave injustice and those vested interests that lobby hard for exactly this, shall have to pay the price for this, both in the short term and long term. A very heavy price indeed!

It is an unchanging law of nature, and no one on Earth is immune from it!

[adimicra]

I don't understand how they are able to get away with this... no media channel questioning this move? Find it hard to believe what's going on in the name of deregulation!

I guess the market will get skewed towards diesel again.

[SchumiFan]

"Since last price change, there has been an increase in international prices of petrol while international prices of Diesel have shown a downward trend.

"Indian rupee-US dollar exchange rate has depreciated during this period. Combined impact of these factors warrant an upward revision in prices of petrol and a downward revision in prices of diesel, the impact of which is being passed on to the consumers with this price change," IOC said in a statement.

How on earth will Petrol prices increase and Diesel prices decrease in the same period? Don't they both come from the same crude?

No sensible person now will buy a petrol car in this country. Everyone will want a share of the diesel pie and we will all pollute the place together

[ramzsys]

Originally Posted by RSR

................

Inflation is contained for a long long time. In fact it is negative(deflation). This is not a cause for celebration because this inflation containment is not a result of a meticulous economic exercise, but a result of a slump in economic activity(not much growth in non-food credit).

This is what i gather from certain brown colored newspaper, me no economist.

In this situation, what is the need now to incentivize diesel users, like transporters? In fact this is the best opportunity to square the subsidy(or the lack of it) for all the fuels.

I reckon that the power situation has improved too.

Only one solid inference is this- this move will help FIAT in no small measure through the sales of it's 1.3 SDE.

[vnabhi]

Sad to know that petrol prices have increased again, but surprised the diesel prices have fallen! Looks like the new government is toeing the footsteps of the past one.

[Chetan_Rao]

Not to go about making political arguments lest I incur moderators' wrath, but hype aside, nothing has really changed on the ground for the common man no matter who's occupying the Caesar's throne. They're all the same.

Inflation is bad for us, so is deflation. High crude prices are bad, so are low crude prices. Heads they win, tails we lose. Some moron in an OMC has even claimed they're tracking international Petrol & Diesel prices separately, now that's a new one.

There is always an explanation, but no respite for the ever-suffering idiots, us mango people.

[gsurya]

Originally Posted by vnabhi

Sad to know that petrol prices have increased again, but surprised the diesel prices have fallen! Looks like the new government is toeing the footsteps of the past one.

To be honest, even in the much maligned previous Govt, I dont remember any occasion when petrol & diesel moved in opposite directions?

[RSR]

Originally Posted by gsurya

To be honest, even in the much maligned previous Govt, I dont remember any occasion when petrol & diesel moved in opposite directions?

I hope you meant any occasion when petrol went up while diesel came down.

I'm not getting into who did this and who did that, but you're correct - petrol price being raised when that of diesel is cut (and that too, by twice the amount) hasn't happened as far as I can remember (irrespective of the government of the day).

This move is as regressive as it can ever get!

Originally Posted by ramzsys

Only one solid inference is this- this move will help FIAT in no small measure through the sales of it's 1.3 SDE.

Fiat may benefit from diesel engine sales to other manufacturers, yes. However, I doubt their lobbying abilities in India.

There are others who would benefit much more, and they have plenty of hardcore lobbyists to ensure their interests are not affected.

The interesting thing is, all their hard lobbying to maintain a deliberate & artificial price difference between petrol & diesel may backfire massively on them, and hurt them in the long run.

[vnabhi]

Originally Posted by gsurya

To be honest, even in the much maligned previous Govt, I dont remember any occasion when petrol & diesel moved in opposite directions?

I should have used clearer terms. What I meant was that the previous government used to subsidize diesel at the cost of petrol users. But there was no simultaneous hike and drop.

[longhorn]

This is the height of idiocracy. Do the OMC's actually believe that the average Indian citizen was born without grey matter? Wish this bozo cared to explain how on earth the prices of two different fuels move in different directions when they come from the same base product. Its high time either the courts take suo moto action against this cartel or someone file a case and put an end to this bull crap. I cannot remember any occasion before this when the prices of petrol and diesel moved in different directions at the same time, either in India or anywhere else in the world for that matter. This govt has a hell a lot of explaining to do on where they are headed with this.
I wish the NGT took note of this and banned the purchase of diesel vehicles by the govt in the NCR region. NGT tries to reduce pollution and what does the Govt do - they reduce diesel prices and hike that of petrol, all this when the price of crude has dropped by 3-4 dollars while the rupee depreciated by less than a rupee during the same period.