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New Delhi: Petrol to Become Dearer by Rs 3 Per Litre?

  •   Thu, Sep 15 2011 10:11:07 AM

New Delhi: Petrol to Become Dearer by Rs 3 Per Litre?

Daijiworld Media Network

New Delhi, Sep 15: The public sector oil companies are likely to jack up prices of petrol by three rupees a litre any time now. It is learnt that this situation has arisen because of the sliding position of Indian rupees against US dollar since some time now, causing the import bills to swell considerably. Indian rupee is at its lowest during the two-year period.

Sources said that at present, companies dealing in petroleum products are losing an average of Rs 2.61 per litre of petrol sold. This has been denting their resources to the extent of Rs 15 crore each day. The grave situation has given rise to expectation that the price of petrol will be revised upwardly to match the loss.

At present, diesel, LPG, kerosene etc are being sold at subsidised rate. Subsidy for diesel stands at Rs 6.05 per litre, for kerosene, Rs 23.25, and LPG cylinder, Rs 267. Because of these subsidies, the resources of petroleum companies have eroded by a whopping Rs 65,000 crore during the first half of this financial year, it is estimated.  If the situation is not addressed, the cumulative losses of these companies will rise over Rs 1,20,000 crore, it is feared.
  

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Comment on this article

  • Durgadas Suvarna, MLORE/BLORE

    Thu, Sep 15 2011

    When it's comes to UPA govt some people comment the hike is due to increase in international market, but if the same thing happens within the BJP state govt there would have been bunch of comments by now blaming yeddy, reddy, katta etc.

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  • Jude, Mangalore Dubai

    Thu, Sep 15 2011

    Nagesh mam is 100% right. We have to pull out all the stolen wealth from the Reddy brothers,Yeddi family, Katta family and then provide subsidized petrol/diesel/kerosene to the poor. Maybe with that much money we can subsidize oil for the entire state population. Since Italy Nagesh mam's favorite country) is heading towards recession, we can even help their economy with this money. Therfore you pseudos please listen to Nagesh mam atleast for now.

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  • Silver, Udupi

    Thu, Sep 15 2011

    One of the SICK Govt ever seen in history!!! god only help us

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  • Austin Lobo, Long Beach, CA

    Thu, Sep 15 2011

    Mr. nagesh, I guess you are refering to Reddy Brothers, Ex CM Yedyurappa, ex MLA Katta, and millionaires of our BJP ruled state, which probably has the richest and most corrupt officals along with the Congress in New Delhi, there is a race who will beat whom in ammasing wealth and corruption. Congress and the BJp are indulged in the game- pot calling kettle black............Please behave mature and stop politicsizing issues. Please understand economics, then comment on price rise and compusions of govt to do so.

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  • Dave, Mangalore

    Thu, Sep 15 2011

    3 Weeks back Pranab Mukhergi recommended roll back of Petrol price by nearly Rs 2, as crude prices have come down in international market.
    Now suddenly this shocker. There is something fishy in all these deals.
    Let all petroleum producsts have uniform rate like in other countries as they cost the same.
    No petro company is suffering any loss.
    It seems these monopolies are fleecing the poor consumers.
    Now let every private sector import petroleum products & distrubute it in open market-then only the real picture, will come out, benefiting the ultimate consumer in the end.

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  • Wolly James, Mangalore/Germany

    Thu, Sep 15 2011

    Mr. Nagesh Nayak,
    For your info, I am paying RS 110 per litre fuel for my car. You might say that I am living in Europe you can afford. That is not the point. Oil has to bought in the open market and one pays the market price. If one cannot afford then one has to take the public transport. Why dont you complain about the gold prices ? If there was no demand then the prices would have also not excalated. I agree with you fully that the poor cannot afford a decent meal a day. This is an overhaul problem in India. The wealth is devided un-equaly in India. Why do you speak of the congress and the Italian lady why not speak on our own state govt. How much wealth were looted earlier by the congress before and now by the BJP Reddy bros. Our state would be the richest if this looted money is given back to the govt. This huge amount is enough to get rid of our basic problems with food for the poor, roads and schools etc. I dont care about the Italian lady but she didnt come to India and conquered India. She was elected by the people. Weather Indian or Italian we are a democratic country and she can be removed anytime by the people. What surprises me is that you protect your Yeddy who has also accumulated a fortune for himself and his family on the other hand you attack this UPA govt and the Italian lady. I sometimes feel your are blind-folded. Think to improve the situation in India
    rather than spread hatred.
    Jai Karnataka

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  • Muhin, mangalore

    Thu, Sep 15 2011

    Dear Nagesh,

    What u want to prove by commenting about the leadership. Befor goind for the central leadership first check wts happnening in panchayath,taluk,district and state level our state will definitely win the "Bharat Ratna" for the most corrupted state.give me one gud minister in our state in recent time who is not corrupted? All the minsters holding good positions are counting bars eg Yeddi,Katta,Gali,Halappa,yogeshwar,ramulu,shoba etc.

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  • Preetham Noronha, Fajir_Mangalore

    Thu, Sep 15 2011


    Petrol Price Depends on world crude oil Market. No Government can Reduce it or Control it. Rather they can think of reducing taxes.
    My dear Nagesh Mamu.. It's our dream to get back swiz bank money and getting Petrol at 10Rs/ltr...

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  • Rajesh, mangkalore

    Thu, Sep 15 2011

    MrNN no pseudo acc to ur definition is dumb and blind , petrol and other products are cheaper in other states when compared to KARnataka .. so u and me and all of us are blind and dumb... and the centre is looting us .. the corporates are looting us but the corporates are the ones who supported Anna in his movement ... so again u r blind and dumb ... its survival of the fittest .. whichever govt it might be .. congi , Bajpa or.....

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  • alok, gwalior

    Thu, Sep 15 2011

    As current emergency is due to depreciating rupee, boiling crude and over use of petro products our aim should be to change the rupee dollar exchange rate so that dollar falls to single digit levels and reduce the petro products consumption and the same can be done by not using costly videshi things and by using free or cheaper swadeshi things. Crude oil domestic use of $ 100 billion a year can be finished by use of free infinite solar passive, electricity and rain water harvesting. My solar cooker is cooking free of cost saving unaffordable unsubsidized LPG. Air traffic is useless and deshi 6 lane electric railway to be developed as electric railway is 50 to 100 times cheaper than diesel petrol roads. Nuclear is fatal and SPV are of no use. Food imports can be turned in to 10 times more exports by using open to sky spaces available with individuals for growing vegetables. Deshi cheap mobile should be developed. Arms import should be stopped by no war pact in the region. Impose 100% tax on deshi non government gold use which is of no use. Try to bring dollar to Rs 9.99 along with growth.

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  • CSShetty, Mangalore

    Thu, Sep 15 2011

    Jai ho...

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  • nagesh nayak, bangalore

    Wed, Sep 14 2011

    HI , PSUEDOS,

    HOPE YOU ARE HAPPY WITH THE HIKE IN PETROLEUM PRODUCTS.

    HIKE IN PETOLEUM PRODUCTS WILL NOT EFFECT YOU SINCE YOU ARE FLOATING ON MONEY.

    BUT THINK ABOUT POOR, COMMON MAN, MIDDLE CLASS FAMILY WHO ARE NOT ABLE TO LIVE WITH FULL MEALS A DAY DUE TO FANTASTIC POLICIES OF YOUR ITALIAN LED CONGRESS.

    NOW ALL PSUEDOS WILL BECOME DEAF, DUMB,BLIND .

    NO COMMENTS WILL POSTED ON THIS SUBJECT.

    JAI HO PSUEDOS.

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  • nagesh nayak, bangalore

    Wed, Sep 14 2011


    HOPE YOU ARE HAPPY WITH THE HIKE IN PETROLEUM PRODUCTS.

    HIKE IN PETOLEUM PRODUCTS WILL NOT EFFECT YOU SINCE YOU ARE FLOATING ON MONEY.

    BUT THINK ABOUT POOR, COMMON MAN, MIDDLE CLASS FAMILY WHO ARE NOT ABLE TO LIVE WITH FULL MEALS A DAY DUE TO FANTASTIC POLICIES OF YOUR ITALIAN LED CONGRESS.

    NOW ALL PSUEDOS WILL BECOME DEAF, DUMB,BLIND .

    NO COMMENTS WILL POSTED ON THIS SUBJECT.

    JAI HO PSUEDOS.

    DisAgree Agree Reply Report Abuse


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