[i74js]

Independence day gift from the central government to the Indian public; presumably not bad at all.

Let OPEC keep on producing / extracting oil to ensure sustenance of their economies and the countries depending upon imports are able to sustain.

I have been given to understand that the cost of import is now lower than the extraction cost from Bombay High as the production has reduced for past 3 years.

[sgiitk]

Originally Posted by i74js

Independence day gift from the central government to the Indian public; presumably not bad at all.

Let OPEC keep on producing / extracting oil to ensure sustenance of their economies and the countries depending upon imports are able to sustain.

Remember the people from India who have lost their jobs in the Gulf and Saudi Arabia due to Industrial shutdowns. So low oil prices beyond a point do have some peripheral costs. I have a feeling with a global economic slowdown and the coming on stream of Iran low crude prices may be here for some time.

[nitinralli]

So guys, whats the prediction for tomorrows price correction? Is it going up or down?

[vin_b]

Originally Posted by nitinralli

So guys, whats the prediction for tomorrows price correction? Is it going up or down?

Up, Up and away The average of Indian Crude Basket for last 15 days has been pretty high (8% approximately more) compared to previous 15 days. One can expect atleast 1-2 Rs increase

[farooq817]

Originally Posted by nitinralli

So guys, whats the prediction for tomorrows price correction? Is it going up or down?

Originally Posted by vin_b

Up, Up and away The average of Indian Crude Basket for last 15 days has been pretty high (8% approximately more) compared to previous 15 days. One can expect atleast 1-2 Rs increase

Even i believe that there will be an increase. The crude price has also increased along with the exchange rate as well.
To give everyone a perspective.
Crude oil price on 15th August: Approx $46 per barrel
Crude oil price on 30th August: Approx $47.33 per barrel

Exchange rate on 15th August: Approx 66.8
Exchange rate on 30th August: Approx 67.1

The above points make me believe that we will have an increase of 1-2 rupees.

[sumzup]

Hi friends,
The current trends suggest a pretty hefty increase; petrol in the region of 2.5 and diesel in the region of 2.5 to 2.75. This could be for the fact that there should have a hike last time around but looks like the Independence Day necessitated a postponement and they have just added that component as well. This again is my humble opinion. In case, anyone wants to fill up their tanks do it today and don't crowd the fuel stations at the last minute which could cause a lot of agony for anybody in real crisis.

[sgiitk]

I any case I could not resist the temptation and filled up my two cans with Diesel for the DG set yesterday, all of 20 litres. In hindsight save me a max of ₹50! Big deal.

[mohammedismail]

Petrol Price hiked by 3.38 per liter and Diesel by 2.67

[1lokesh]

There you go. May the devil find its peace :-)

[audioholic]

Filled up tank just now and saved 101 rupee

[cs_rajesh]

Crude Oil Futures fall (http://www.moneycontrol.com/commodit...html#19sep2016), Oil Prices drop on strong dollar (http://www.moneycontrol.com/news/com...r_7377241.html) and still fuel prices increase in India.. :(

[cs_rajesh]

Originally Posted by vin_b

Up, Up and away The average of Indian Crude Basket for last 15 days has been pretty high (8% approximately more) compared to previous 15 days. One can expect atleast 1-2 Rs increase

Hi,
how do you calculate this "indian crude basket" ? Is there a formula with crude oil spot price & USD-INR exch rate? Can you reveal this secret?

Originally Posted by farooq817

Even i believe that there will be an increase. The crude price has also increased along with the exchange rate as well.
To give everyone a perspective.
Crude oil price on 15th August: Approx $46 per barrel
Crude oil price on 30th August: Approx $47.33 per barrel

Exchange rate on 15th August: Approx 66.8
Exchange rate on 30th August: Approx 67.1

The above points make me believe that we will have an increase of 1-2 rupees.

Well, how did you arrive at the 1-2 Rs increase? any formula here?

[bejoy]

After a regular habit of filling right after a hike, for a change I managed to fill 69 liters of diesel today. Thanks for the predictions

[Jebs]

Thanks to t-bhp who gave the heads-up a day before. Filled up the tank today evening saved 90 Rs.

[sumeethaldankar]

Yup me too filled up today expecting a change. Glad i did. 3 Rs + hike is too much at a time. Is it even justified ?