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Petrol prices hiked by Rs 7.5 per litre

Discussion in 'World Economy' started by Osiris, May 23, 2012.

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  1. Osiris

    Osiris Major SENIOR MEMBER

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    New Delhi: Oil companies have hiked Petrol price by Rs 7.5 per litre with effect from Wednesday midnight.With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy on yesterday said there is an immediate need to raise fuel prices
     
  2. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    Petrol Prices Hiked By Rs.7.50

    Petrol has been hiked by Rs.7.50/-

    The news has reached me just now

    will post more news as details pour in.
     
  3. Osiris

    Osiris Major SENIOR MEMBER

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    UPA's 3rd anniversary gift to the nation :dance3:
     
  4. Skull and Bones

    Skull and Bones Doctor Death Staff Member MODERATOR

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    And both threads merged. :yey:
     
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  5. DaRk KnIght

    DaRk KnIght Lt. Colonel ELITE MEMBER

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    Now only hope is TATA's car which runs on Air. Hope it becomes reality soon.
     
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  6. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    Thanks i was about to message you about it
    didn't saw that thread coming :wave:

    I am going to fill up my tank right now,

    see you soon guys :partay:
     
  7. Skull and Bones

    Skull and Bones Doctor Death Staff Member MODERATOR

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    Blame rupee depreciation for this hike, and RBI isn't doing anything to stop this free fall. Crude is at $91/barrel and Gold is at $1558/oz, and both them are retailing near their all time highs in our domestic market. :hitwall:


    Height of impotency of our government.
     
  8. tunguska

    tunguska Major SENIOR MEMBER

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    It is request to UPA government that please make petrol price 100 Rs/ ltr once for all. Why UPA giving slow poisons everyday to us. Give a full dose once for all.
     
  9. DaRk KnIght

    DaRk KnIght Lt. Colonel ELITE MEMBER

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    ^^^And our govt is said to be run by great economists. :hitwall:
     
  10. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    Bulsshit move. Indian's should NOT accept a single hike until the oil sector is reformed. This charade of mainatining the poritability of PSU oil cos at the cost of the tax payers while they are stifling the sector with their inefficiency should STOP. If they want funds to pay for oil, let them SHUT DOWN AIR INDIA to whom we are paying 42,000 crores AND whose planes are not taking us anywhere. If they want to pay for oil, let them raise rail fares that they haven't raised for 9 years so that it stops being a loss making unit.
     
  11. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    Osris- can't hear this news anywhere else...are you BSing on this?
     
  12. DaRk KnIght

    DaRk KnIght Lt. Colonel ELITE MEMBER

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    Petrol price raised by Rs 7.50 per litre - The Times of India


    NEW DELHI: In the steepest ever hike, petrol price was increased today by Rs 7.50 a litre with effect from midnight tonight. State-owned oil firms said they will raise petrol price by Rs 6.28 per litre excluding local sales tax or VAT. The hike translates into Rs 7.50 per litre in Delhi. Petrol in Delhi currently costs Rs 65.64 a litre and after the increase it will be priced at Rs 73.14 per litre.

    Earlier in the day, the Left parties had opposed any such move saying it will be a cruel blow to the people reeling under price rise.

    With rupee depreciation leading to jump in oil import bill, petroleum minister S Jaipal Reddy on Tuesday said there is an immediate need to raise fuel prices, but refused to say when the hike will actually take place. "It (price increase) is very essential but (before hiking rates) we have to talk to political parties," he told reporters.

    The government had decontrolled petrol price in June 2010 but rates were last increased on November 4 last year. This despite oil price rising by 14 per cent and 7 per cent fall in value of rupee against the US dollar. Price of diesel, kerosene and cooking gas were raised in June last year.

    "If rupee depreciates by one against the US dollar, our oil companies lose Rs 8,000 crore (annually)," Reddy said.
     
  13. Skull and Bones

    Skull and Bones Doctor Death Staff Member MODERATOR

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  14. ek_indian

    ek_indian Lieutenant FULL MEMBER

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  15. Osiris

    Osiris Major SENIOR MEMBER

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    switch on ur television ...
     
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