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Breaking Petrol price down by Rs 10 in 6 weeks, diesel by Rs 8

Jas

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"A Saudi pledge to produce as much oil as possible, and the stock market rout, have sharply reduced concerns about the Nov. 4 implementation of US sanctions against Iran," said Ole Hansen, head of commodity strategy at Saxo Bank.

Russia has also indicated that it will provide enough oil to meet demand once US sanctions hit Iran from next week.

Crude oil may touch $100 by Dec if supply crunch gets worse: Citi
 

DreamFan

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I don't know why people are fighting with each other for politics. Please don't make this thread so noisy & politics based.
Personally I don't like our respected CM Mamata Banerjee, but neither say anything wrong against her anytime nor any defendable words to our respected PM Modi ji (my all time favourite).
Politics is not our cup of tea. We only can works for it & advantage will take only upper class. So, leave it. Don't want to hurt anyone intentionally.
 

Anish Pai

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@Jas pls use proper words and dont make this thread political.

 

PRK

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I am aghast at the little knowledge people have on fuel prices and speak as if they know all.
Petrol and diesel prices have been deregulated since long. That means oil marketing companies decide the pricing according to the global brent crude oil price. As brent crude is falling down, prices are going down. This has nothing to do with the government.
You can track brent crude oil prices here: Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider

Now, some have said global oil prices were higher during previous government tenure and fell after 2014 still prices didn't reduce. This is because previous government floated Oil bonds i.e. the government borrowed money to keep the oil prices low and increased debt. The same amount has to be repaid back to those who lent the money. The present government has paid back the money using the additional tax levied.

So, please read about things properly before making illogical comments.
I wonder whether people would be able to understand this or their political leanings would make them blind to realities.

 

Jas

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I don't know why people are fighting with each other for politics. Please don't make this thread so noisy & politics based.
Personally I don't like our respected CM Mamata Banerjee, but neither say anything wrong against her anytime nor any defendable words to our respected PM Modi ji (my all time favourite).
Politics is not our cup of tea. We only can works for it & advantage will take only upper class. So, leave it. Don't want to hurt anyone intentionally.
Should be act as mute spectators to 'Looteras' (scamsters)?
 
Last edited:

Anish Pai

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I am aghast at the little knowledge people have on fuel prices and speak as if they know all.
Petrol and diesel prices have been deregulated since long. That means oil marketing companies decide the pricing according to the global brent crude oil price. As brent crude is falling down, prices are going down. This has nothing to do with the government.
You can track brent crude oil prices here: Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider

Now, some have said global oil prices were higher during previous government tenure and fell after 2014 still prices didn't reduce. This is because previous government floated Oil bonds i.e. the government borrowed money to keep the oil prices low and increased debt. The same amount has to be repaid back to those who lent the money. The present government has paid back the money using the additional tax levied.

So, please read about things properly before making illogical comments.
I wonder whether people would be able to understand this or their political leanings would make them blind to realities.

Very nicely put Bro. :clap::eek:k:
 
Last edited:
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