Global crude down 2/3rd since May '14; petrol falls only 16%


New Delhi, Feb 24 (PTI): A litre of petrol cost Rs 71.41 in May 2014 when international oil was at USD 106.85 per barrel but even after over two-third fall in global rates, the price of petrol has witnessed only 16 per cent decline and remains at Rs 60 per litre.

In a written reply to a question in Rajya Sabha, Oil Minister Dharmendra Pradhan today said the basket of crude oil that India buys averaged USD 106.85 per barrel in May 2014 and this month it is averaging at USD 29.80.

Petrol in May 2014, when BJP-government took office, was priced at Rs 71.41 per litre and now it is priced at Rs 59.95 a litre, he said. Similarly, diesel cost Rs 55.49 a litre in May 2014 and this month it is available at Rs 44.68 per litre.

Pradhan said since May 2014 the government has raised excise duty on petrol by Rs 12 per litre and by Rs 13.77 a litre on diesel. Excise duty on petrol on May 1, 2014 was Rs 9.48 per litre and today it is Rs 21.48 a litre. Similarly, the same on diesel was Rs 3.56 a litre and this month it is Rs 13.77 a litre.

While the price reduction in petrol between May 2014 and February was Rs 11.46 per litre, the government mopped up Rs 12 a litre in excise duty. Similarly, the reduction in diesel price has been Rs 10.81 a litre but excise duty has risen by Rs 13.77 per litre.

"Retail selling price (RSP) of petrol and diesel in the country are based on their respective international prices and oil marketing companies (OMCs) are at present applying Trade Parity Pricing methodology to compute the RSP," Pradhan said.

Other cost elements in the RSP of petrol and diesel viz excise duty, BS-IV premium, marketing cost and margins are specific costs which do not increase/decrease with the volatility in international prices, he said.

"The element of excise duty which is specific in nature has been increased," he said, adding that most of the state governments also have increased VAT on petrol and diesel.

Prices of petrol and diesel have been made marked determined effective June 26, 2010 and October 19, 2014, respectively.

"Since then, the public sector oil marketing companies (OMCs) take appropriate decision on pricing of petrol and diesel in line with their international price and other market conditions," he added.

 

  

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Comment on this article

  • Antonio D'Silva, Kuwait

    Fri, Feb 26 2016

    How else could our Indian Government ensure that the 27th richest man in the world become more richer - imagine mukesh ambani with a net worth of $ 24.8 billion.

    Of course the government elected by us poor Indians definitely get their fair share from mukesh.

    DisAgree Agree Reply Report Abuse

  • Vincent Rodrigues, Promenade Road,Frazer Town,B'lore

    Thu, Feb 25 2016

    Government is making money without passing over the benefits to the common man when the crude oil price is crashed so much in the international market.Someone need to raise this issue in the parliament

    DisAgree Agree Reply Report Abuse

  • SM Sujeesh, Mangalore

    Thu, Feb 25 2016

    Karnataka VAT for MS 26% and HSD 16.75%....If state government reduces VAT, both petrol and diesel will be cheaper in Karnataka like Goa.

    DisAgree [2] Agree [6] Reply Report Abuse

  • McQueen, Mangalore

    Thu, Feb 25 2016

    the same people who keep praising modi for not reducing fuel prices had very harsh words for manmohan singh when fuel prices were at an all time high globally...hypocritical indians ...Would we still be paying for fuel, if fuel prices were 1 dollar per barrel?

    DisAgree [3] Agree [6] Reply Report Abuse

  • Krish, Dubai

    Thu, Feb 25 2016

    Dear DW readers and Modi Haters,
    Some people was blaming Mr. Modi day and night for his foreign tour.
    Today i have 1 question for you all.
    1. Karnataka CM is in Dehli since yesturday to meet Mrs. Sonia Ghandi and Mr. Rahul Vincy.
    2. karnataka Home Minister Mr. Parameshwara is in Dehli Since tuesday to meet Mrs. Sonia Gandhi and Mr. Rahul Vincy.

    can any one please let me know who is paying their expenses?
    Is there any use to people of Karnataka by this trip?
    Did these 2 met any of Central ministers which may profit to karnataka?
    Since Mr. Siddarammayya became CM, he & Mr. Param , almost 100 times he traveled to Dehli for unofficial issues.

    is there any 1 penny benefit to state?
    If they cant rule state with out high command permission, resign and sit in home, or make a house to high command in bangalore.
    Why DW readers not asking this question?

    is Our Moto just blame Mr. Modi even if his foreign tour will benefit to country and appreciate Mr. Siddu even if each tour becomes burden to state???

    DisAgree [25] Agree [10] Reply Report Abuse

  • MASTHAN , Dub

    Thu, Feb 25 2016

    WHY TO TRAVEL, WHEN SKYPE IS THERE.

    CONGRESS AND BJP ARE TWIN BROTHERS.

    DisAgree [4] Agree [14] Reply Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    Haha....Lets close down all airlines & railways....

    why anybody in the world has to travel at all ??....Skype is there.....

    Hatred for Modiji is turning in to foolish thoughts....lage raho...

    DisAgree [4] Agree [3] Reply Report Abuse

  • MASTHAN , Dub

    Thu, Feb 25 2016

    Shettre

    PEOPLE TRAVEL FOR WORK AND HOLIDAYS FROM THEIR OWN POCKET.

    BUT HERE IS THE STORY IS DIFFERENT, HE IS SPENDING BILLIONS OF TAX PAYERS MONEY, IN THE NAME OF DEVELOPMENT.

    LOOK AT INDIAN ECONOMY, ITS ALL BECAUSE OF MODIS FOREIGN TOUR.

    FOREIGN TOUR IS AN ADDICTION,

    DisAgree [2] Agree [4] Report Abuse

  • alfria, mumbai

    Thu, Feb 25 2016

    Krish, going from Karnataka to Delhi, is it the same going from Delhi to Switzerland????

    DisAgree [4] Agree [13] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Thu, Feb 25 2016

    Dear Krish, Dubai, Hater of Congress, Soniaji and Rahulji,

    JUST TAKE A WORLD MAP AND CHECK - KARNATAKA AND DELHI ARE INSIDE INDIA OR OUTSIDE OF INDIA.

    DisAgree [2] Agree [5] Reply Report Abuse

  • Amith, udupi

    Thu, Feb 25 2016

    garam dhiram pathernu ..

    DisAgree [2] Agree [3] Reply Report Abuse

  • vivek, Mangalore

    Thu, Feb 25 2016

    Indians have become immune to Rs.60 a litre of petrol. Don't just make a hue and cry of it. This is the right time to impose duties and keep price in check because the money collected will be huge and help in decreasing the fiscal deficit which the previous government only thought of increasing so that more Indians remain poor and they keep screwing the country. Afterall it was run by someone who wanted to destroy this country. Now you cannot see that your earlier "Missions" aren't working and Modi is doing what is right for the country. So long pseudos..

    DisAgree [7] Agree [6] Reply Report Abuse

  • Nambiar, Dubai

    Thu, Feb 25 2016

    Modi should quit and should say sorry to the nation. We might forgive him. If he do so quickly.

    DisAgree [10] Agree [22] Reply Report Abuse

  • MASTHAN , DUB

    Thu, Feb 25 2016

    WHAT EVER PROMISE MODI MADE. HAS DONE COMPLETELY OPPOSITE.

    IN MODIS 2 YEARS TERM LOOK INDIANS AVASTHE.

    IN 3 MORE YEARS GOD KNOWS WHAT WILL HAPPEN.

    MANY STARTED TO LOOKING JOBS IN FOREIGN COUNTRIES. THEY DONT TRUST MODI ANY MORE

    ONCE A FEKU ALWAYS A FEKU.

    DisAgree [7] Agree [37] Reply Report Abuse

  • MASTHAN , DUB

    Thu, Feb 25 2016

    THIS SCAM IS THE BIGGEST SCAM IN THE WORLD.

    PETROL SCAM.

    THESE BJPS AFTER 3 YEARS LOOT THE MONEY AND ESCAPE TO ABROAD.

    THESE BJP SUPPORTERS WILL REGRET ONE DAY. EVEN THEY ARE FOOLING THEIR OWN PUBLIC SUPPORTERS

    DisAgree [9] Agree [28] Reply Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    All sickulars don't want to contribute anything to nation building, but are rather interested in sucking out all from the country.....

    They are merely happy with all sorts of bhagyas & freebies & keep their own future generations indebted for ever.......

    Best is Siddu policy....Borrow heavily, distribute for free & have a nice nap.......Ragaale ijji.....ereg bod ye nation building??....

    DisAgree [28] Agree [12] Reply Report Abuse

  • sid, mangalore

    Thu, Feb 25 2016

    well said . 1 rupee rice is re sold in the market and going in circles . All the sleeping government is pleasing for votes they dont care about the outcomes or their policy is doing any good or bad

    DisAgree [4] Agree [5] Reply Report Abuse

  • sid, mangalore

    Thu, Feb 25 2016

    Modi governmnet has done the right thing by not reducing the petrol prices becauses its the best time to pay off the debth which the country owes . Even if the price of petrol was reduced there would not be change in prices of commodities which could help the middle calls and poor anyways . World has appreciated this move by Modi ! Master Stroke

    DisAgree [19] Agree [9] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Feb 25 2016

    Sid, what 'debth' are you talking about.

    DisAgree [7] Agree [10] Reply Report Abuse

  • sid, mangalore

    Thu, Feb 25 2016

    Hi Jossey , i am talking about the debt the indian governmnet has to pay for the subsidized rate of LPG and petrol to people and various industries . These rates remianded the same when petrol prices sky rocketed resulting in million of dollars of debth . This is the right time to reduce the debt and get out of the burden . Its common that we save in good times and reduce our loans correct ?

    DisAgree [8] Agree [7] Reply Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    Debt...which your dear party has left after 60 years of loot....

    FYI...v r paying out 20% of our budget as interests to all borrowed funds....

    What a big pit your party for dug for our nation!!...all for the sake of one family...do you realize this??.....

    DisAgree [5] Agree [6] Reply Report Abuse

  • Indian, Mangalore

    Thu, Feb 25 2016

    Soon this will become biggest ever scam in History.

    DisAgree [7] Agree [18] Reply Report Abuse

  • S.M. Nawaz Kukkikatte, Dubai

    Thu, Feb 25 2016

    Any Logical Matter "Andh Bhakths" Never understand they only sick in "MODIphobia"

    Even today i heard the Economist warned rupees may fallen more in coming days and specially India get affect much in Asia Countries.
    But unfortunately MODI team only busy in attack Students, Christian, Muslims, Daliths, Filmstars and other scholars. then never do concentrate what happening global economic and how its effecting us.

    DisAgree [11] Agree [18] Reply Report Abuse

  • Ravi, Kapu

    Thu, Feb 25 2016

    S.M. Nawaz Kukkikatte, Dubai
    We are proud to be Bhakts. Are you all proud to be the followers of the Fake Gandhis from Italy who can't even speak without a written speech?

    DisAgree [8] Agree [5] Reply Report Abuse

  • S.M. Nawaz Kukkikatte, Dubai

    Thu, Feb 25 2016

    Ravi,
    No Dear your wrongly mentioned "Follower".
    totally agree with your Fake Gandhi's family concept.
    and If we looks Better India then we have to show our guts to rise our voice and get united besides the politics party or leader either BJP or CONGRESS.

    DisAgree [2] Agree [1] Reply Report Abuse

  • YOUSUF K, BANGALORE

    Thu, Feb 25 2016

    Oota Aitha?.
    Ans: Mundas Muvathu Mola..

    DisAgree [2] Agree [2] Reply Report Abuse

  • Orton, Mangalore

    Thu, Feb 25 2016

    For time being there is nothing left for Modi.
    Foreign tours finished even sudden visit to pakistan unless repeat same countries.
    No Election rallies Now

    Modiji please sort out your wife's passport Issues.

    DisAgree [3] Agree [15] Reply Report Abuse

  • Sumit Shanbhog, Manipal

    Thu, Feb 25 2016

    A brief description of Feku and his joker team

    1) Narendra Modi aka Maha Feku - All the promises he made during 2014 elections are fake.

    Some Phrases if people have forgotten.
    "Muh Todh Jawab Doonga",
    "Na Kaunga na kane doonga",
    "yeh dekna hai UPA sarkar jyada girti hai ya Rupaiya",
    "1 saal ke andhar Black money waapas ayega aur har ek ko 15 lakh diye jayenge"
    "Sab ka saat sub ka vikas"
    "Sab ko saat leke chalenge"
    "Mai Kareeba ka Pradaan sevak hu"

    Now just analyse the current situation with above phrases and judge yourself

    2) Arun Jaitly aka Maha Jootly - This joker was made Union Finance minister has no clue what it is all about. Acts as if he knows everything but has no clue how the poor are suffering due to price rise and increased taxes.

    3) Rajnath Singh aka Jokenath singh - Occasionally comes out and dares pakistan, Everyone things he is joking.

    4) Sushma Swaraj - Replacement to Modi when he is not on tour. Foreign policy against Pak has impact whatsoever. At least 270 soldiers have died at line of control and infiltration since 2014 but no action against pak.

    The list goes on......

    DisAgree [7] Agree [41] Reply Report Abuse

  • Stan, Udupi/ Dubai

    Thu, Feb 25 2016

    Acche din and sab ka saath sab ka vikas will never become a reality under this regime.

    DisAgree [9] Agree [36] Reply Report Abuse

  • gm, mlur

    Thu, Feb 25 2016

    Who said that? Bhakt's are very happy as they are already enjoying ache din.

    DisAgree [5] Agree [17] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Thu, Feb 25 2016

    Very true as long as last remaining 44 pack of jokers will be kicked out from Lok Sabha!!!!

    DisAgree [26] Agree [9] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Thu, Feb 25 2016

    This is the blessing in disguise for NaMo Govt at Central….. Though the fuel price has been reduced slowly in India but other way Central Govt generated enough funds to run the dilapidated economy which was ruined like anything during UPA rule. Anyway nobody reduced their price tag even though fuel price has been reduced in India. Often we experienced many times that all prices go up when there was a fuel price hike but when it get reduced no one bothered to reduced their commercial price of any product!!!! So, you can imagine the profit margin of these business entities whether it is small, medium or big Industries

    DisAgree [29] Agree [13] Reply Report Abuse

  • liveinpeace, Dubai

    Thu, Feb 25 2016

    italian pappu party, has not left any money in treasure for development, where the money for development goin to come from. government is taking right steps. you guys want 15 Lakh without working. wake up guys open eyes of your brain and accept modi is doing amazing work, he is looking for permanent solution to wipe out poverty.please keep religion away and work for development of india, let us make india the superpower.

    DisAgree [27] Agree [10] Reply Report Abuse

  • Mohammed Shabeer, Ullal / Jubail

    Thu, Feb 25 2016

    Petrol Cost 71.41 INR in May 2014 > Per Barrel 106.85 USD
    Petrol Cost 59.95 INR in Feb 2016 > Per Barrel 29.80 USD

    Now, Calculation, May 2014 - Feb 2016.
    Change or Decrease in Petrol Prices for some countries as listed below.
    Taiwan -51%, Thailand -49%, Australia -45%, Japan -43%, Philipines -38%, Korea -37%, Malaysia -35% & India –Babaji Ka Thullu.

    No Benefit for the common man, the refiners mint money and live in luxurious villas with feku support.

    Indian Govt is taking away the saving from common people by repeatedly raising excise duty.

    DisAgree [9] Agree [56] Reply Report Abuse

  • Santosh,K, Mangalore

    Thu, Feb 25 2016

    Uneducated blind people are behind BJP to take advantage from GOVT !!!!!!Common man is educated but not have benefits From GOVT.

    DisAgree [13] Agree [29] Reply Report Abuse

  • Harish, Kadaba

    Thu, Feb 25 2016

    http://www.globalpetrolprices.com/gasoline_prices/

    Please go through above link for find out world petrol price today, u will get idea

    DisAgree [2] Agree [4] Reply Report Abuse

  • T.DSILVA, Udupi

    Thu, Feb 25 2016

    Mr. Dsouza, They are looting general public by charging about 100 percent extra charge on fuel, then 10 to 20 percent out of it for show business.
    Still, what you are claiming can not be seen at least in our NH 44 till now.
    Don't forget blind bhakth that this same Modi and team protested nationwide when Manmohanji increased the fuel price in India marginally to counter global peak Price when they are in opposition.

    DisAgree [2] Agree [23] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Feb 25 2016

    Agreed PAPPU is a Brainless Wonder.
    Any day better than this Loot & Plunder ...

    DisAgree [10] Agree [40] Reply Report Abuse

  • Ummar, Udupi/Dubai

    Thu, Feb 25 2016


    Who funded pre-election for useless party they are encashing now with billions of dollars. Get the chance now and loot it. They knows them self they won't get another chance.

    DisAgree [3] Agree [17] Reply Report Abuse

  • gm, mlur

    Thu, Feb 25 2016

    Gov't is busy with invisible (invisible to public) things like Jaan Dhan, swatch bharat, rurban etc. etc. World knows that crude oil prices drastically decreased but our gov't never thought about it.

    DisAgree [2] Agree [19] Reply Report Abuse

  • Prakash Shetty, Pune

    Thu, Feb 25 2016

    BJP is waiting for 100% down for Crude oil in global market.

    Tabi inka tube light jalnewala hai.

    DisAgree [8] Agree [50] Reply Report Abuse

  • Valerian D'souza, Udupi / Mumbai

    Thu, Feb 25 2016

    If Crude price fall, POCKET the benefit!
    When cost goes up, RECOVER from public. This is Modi-economics.

    Country wants to know the beneficiaries.

    Why opposition took so long to raise this issue is another question!

    DisAgree [3] Agree [38] Reply Report Abuse

  • Santosh,K, Mangalore

    Thu, Feb 25 2016

    ಇನಿ ರೈಲ್ ಬುಡ್ಪೆರೆ ಉಂಡು !!!!!!!!!!!!!!

    DisAgree [5] Agree [30] Reply Report Abuse

  • Kishor, Mumbai

    Thu, Feb 25 2016

    60 vashode rail bududu sothuje

    DisAgree [10] Agree [9] Reply Report Abuse

  • Narendra Kumar, Mangalore

    Thu, Feb 25 2016

    This is called "Modi Economics" !!!

    The fellow Mr. Modiji and his team and supporters boasted of bringing the dolar to just below 40 Indian Rupees if they come to power !!!

    They felt that time that it is just "Anybody's Job!!!!

    And what is the dollar costing for us today..nearing to 70's!!!

    All those people who were acusing Dr. Manmohan Singh as Maun Mohan Singh...and what the the great Modiji is doing today in Parliament after coming to power!!!.

    What is the Banking and Financial Sector's fate today in India !!! despite the so called rating agencies rated recent past ... Indian economy is growing at above 7.9% in 2004 - 2015!!! Have they bribed them also just in last December 2015!!


    It is easy to criticize and comment when you are "Off the Chair" and the same bitter words one has to digest today by Sitting "On the Chair"

    If this government is running with jokers today in Delhi ....it's just because of of "Indian Consumers" are still paying a "Heavy Price" for Oil ( Petrol and Diesel) till date despite the world over the prices have cooled down to the Maximum!!! (Mercy of Modiji's friends...Big Industrialist

    Mere "Lip Service" and "Big Bashan's" and "Roaming World Over" and spending "Tax Payers" money to do "Publicity and "Extravaganza" will not lead us anywhere....

    One has to be Wise and Prudent and must have a Good Team and not the Jokers!!!

    DisAgree [8] Agree [51] Reply Report Abuse

  • geoffrey, hat hill

    Thu, Feb 25 2016

    Instead of trying to sell these cock and bull stories, let the minister own up - the all time high profits the reliance refinery has posted in the past year and a half and all will understand the reason behind government's refusal to pass on the benefit of low prices to consumer.

    DisAgree [4] Agree [21] Reply Report Abuse

  • Soloman Lewis, UDUPI

    Thu, Feb 25 2016

    People, has anybody analysed steep hike in internet charges after the last auction?

    DisAgree [3] Agree [18] Reply Report Abuse

  • Sunil D'souza , Udupi /dubai

    Thu, Feb 25 2016

    People also should know that during that period National highways construction is 2.5 kms per day Now in 2015 averaged 20 kms per day. And 17000 kms road projects got sanction
    Now you know where money going.

    DisAgree [27] Agree [7] Reply Report Abuse

  • Praveen, Earth

    Thu, Feb 25 2016

    Sure?? may be they calculating already built roads.

    DisAgree [3] Agree [14] Reply Report Abuse

  • Merwin Lewis , Udupi/Dubai

    Thu, Feb 25 2016

    Dont Compare a Apple to orange. Highways are collecting heavy tolls. We are talking here about Oil and Gas. Get your facts right.

    DisAgree [2] Agree [21] Reply Report Abuse

  • Peter Pinto, Badhyar/navi Mumbai

    Wed, Feb 24 2016

    During MAY-2014 Crude was 106 Dollars PB and Rickshaw fellow was charging minimum 10-12 rupees.
    And now below 30 Dollar per a barrel.
    Poor rickshaw fellow still remain poor and he is charging minimum 20 plus.He is not at fault but the government is.With their WRONG policies.
    Earning a few rupees more is not wrong but the intention is definitely NOT CORRECT.

    DisAgree [3] Agree [16] Reply Report Abuse

  • Acchu, M,lore

    Wed, Feb 24 2016

    Make money as much they can because next election confirmed BJP will lose.

    DisAgree [4] Agree [30] Reply Report Abuse

  • Angryman, Mangalore

    Wed, Feb 24 2016

    I think, opposition parties so called watch dogs are not so strong enough to protest and poke the ruling govt on this issue.

    DisAgree [3] Agree [17] Reply Report Abuse

  • Ronald D, Udupi

    Wed, Feb 24 2016

    Okay...Charles you are right!! With that kind of billions margin...did you see any better road, better power(electrical) and free flow of water(irrigation/ drinking)....certainly religion has prospered....I mean advantage in the name of God and sentiments!!! Wish our politics spares religion and God and development takes front seat...Wish God and religion occupies the best possible position at home and place of worship!! Honestly advantage over religion and God is best agenda to make billion and color of fabric!!!

    DisAgree [2] Agree [15] Reply Report Abuse

  • Charles D'Mello, Pangala

    Wed, Feb 24 2016

    "Achche Din"....For whom..!!!! Government or people...!!!! There is no doubt that he was talking about his and his party. Along with BJP all politicians made money and common people lost.

    DisAgree [5] Agree [37] Reply Report Abuse

  • stan, dubai

    Thu, Feb 25 2016

    "Achche Din"....For whom..!!!! Government or people...!!!! Achche Din for both.... They increased salary and allowance 200% for politicians....they increased rate of commodities.... Rate increased means Achche din?????

    DisAgree [2] Agree [8] Reply Report Abuse

  • Mark Dcruz, Mangalore

    Wed, Feb 24 2016

    This government is trying to fool people of india by reducing prices for diesel and increasing on taxes.
    Now this the way to make quick money by increasing taxes. Same goes to GST ( Goods service Tax) beware of them..!

    DisAgree [7] Agree [51] Reply Report Abuse

  • Santosh,K, Mangalore

    Wed, Feb 24 2016

    If UPA ruled in INDIA at this movement Ramlila maidan become full of crowd with drama by BJP people. Nobody is there in Ramlila maidan because of BJP ruling !!!!!!!!!!!

    DisAgree [7] Agree [76] Reply Report Abuse

  • Patel, Dubai

    Wed, Feb 24 2016

    Definetly bandh,and protest against the price .jai hind

    DisAgree [5] Agree [38] Reply Report Abuse

  • MASTHAN , DUB

    Wed, Feb 24 2016

    ONLY KEJRIWAL CAN BRING ACCHE DIN.

    REST ALL FEKU.

    EVEN BJP AND CONGRESS THEMSELF KNOWS THAT THEY ARE FEKU

    DisAgree [12] Agree [85] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Wed, Feb 24 2016

    BJPee or Congress both are thieves.

    DisAgree [5] Agree [56] Reply Report Abuse

  • sri, Karkala

    Wed, Feb 24 2016

    Moreover most of the Indians doesn't know that petrol and diesel sold in India is not refined properly and many times they are impure containing crude . Lol ... We are poor Indians in poor country.

    DisAgree [5] Agree [43] Reply Report Abuse

  • Ramesh S, MANGALORE

    Wed, Feb 24 2016

    ..it may be temporary, ME countries cant sustain its economy in this oil rate..already it started to feel the punch..inflation going up..even expatriate started to send families back to India..sooner or later ME will find a way to stabilise price..But Indian Govt cant increase same proportion if oil prices shoots up, it will face opposition..so play safe..by the way, Govt also has to compensate farmers, people who commit suicide, for people who killed and dont forget jayanti/quota riots..ASOCHAM said recent quota riots loss more 25000 crores..who will pay..indirectly we have to pay..

    DisAgree [62] Agree [11] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Feb 24 2016

    Their modus operandi is very simple.
    They will continue looting for 59 months and accumulate in Billions.
    On the 60 month just before elections they will deposit a few lacks in your Bank Account.
    Feku Bhakts will immediately start Chanting “Wah Wah BJP” and our Duffers will all vote for BJP.
    Interest on a few Billions for 59 months will be in Millions.
    One again we will all be made ULLU’s and they will be laughing laugh all the way to the BANK.
    Jago India Jago …

    DisAgree [10] Agree [77] Reply Report Abuse

  • Rajesh, mangalore

    Wed, Feb 24 2016

    what woke you up from your one liner. despite back to back drought BJP has committed for 7th pay commission & OROP. the magnitude of the cost on 7th pay commission itself is around one lakh crore. are the beneficiaries BJPians. people comment as if the money is going to BJPs account and not the governments account.btw, in the government sector employees mostly belong to Dalit and backward classes.

    DisAgree [23] Agree [9] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Feb 25 2016

    Rajesh, you sound as if I have accused you ...

    DisAgree [5] Agree [23] Reply Report Abuse

  • Sunil D'souza , Udupi /dubai

    Thu, Feb 25 2016

    Jossy, before election congress brought NAREGA and won then all scams coal,2G,commonwealth and many more then for 2014 election 2 rs rice. People kicked congress with 44 seats.

    DisAgree [24] Agree [8] Reply Report Abuse

  • Lawrence, Mangalore

    Wed, Feb 24 2016

    Supreme Court should order forensic audit of all companies dealing with oil to see the taxes and profits are properly accounted for. Any money given to political campaign must be disclosed. Only the transparency can satisfy many unanswered questions. 200% mark-up (including taxes)on essential product is too high.

    DisAgree Agree [38] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Wed, Feb 24 2016

    Yale University graduate is making politricks in the Parliament and fighting for reducing petrol prices in India.

    Hope tomorrow she, Sushma Swaraj and Yachury will start Bharath Bandh for reducing petrol prices and daal prices

    DisAgree [3] Agree [25] Reply Report Abuse

  • shetty, Mangalore

    Wed, Feb 24 2016

    Govt is spending heavily on infrastructure like roads, ports, smart cities...
    Rafael jets, howitzer guns are being bought...
    New indigenous air craft carriers are being built...
    India's defense sustainability was a paltry 15 days in 2014...
    MNREGA & Food security acts have been seriously implemented..
    OROP has been agreed....
    7th pay commission recommendations will be implemented....
    State's share of revenue distribution has been increased...
    Railways is being modernized...

    To achieve all these we need additional revenue,but....

    only 3% of us pay taxes!!!...

    So when the opportunity comes govt has to build up some funds required for nation building or else beg with world bank, IMF & make our nation indebted for ever........By the way 20% of our budget is set aside just to pay interests for all the existing debts....
    We can't always remain a developing country just by managing our day to day income & expenditures without any big investments in to the future.....By the way we are still a fiscal deficit economy & the govt is trying its best to achieve the target keeping it at 4%...........

    60 years of looting & mis-governance by the grand old party & now they want Modiji to turn around a big elephant in 18 months, that too by daily creating all sorts of nuisance............So much intolerance towards a PM who is working for their own good.....

    DisAgree [74] Agree [13] Reply Report Abuse

  • Homer, bharat

    Wed, Feb 24 2016

    Then why was bjp protesting when Dr.MMS the ARCHITECT of Indian Economy was raising by w few paise even when Crude was like 175% more than waht it was today?

    DisAgree [9] Agree [68] Reply Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    Homer..protest because all the money went it coffers of the first family & their kick backs.....nothing was invested in to nation building...

    Imagine a country like ours having 15 days defense sustainability with no air crafts or gun purchased from 30 years.....this says it all....

    DisAgree [1] Agree [1] Reply Report Abuse

  • geoffrey, hat hill

    Wed, Feb 24 2016

    It was customary in our country to attribute weakness of our Rupee against dollar to the high crude prices as a bulk of our forex spent towards buying crude oil. Now with oil prices at rock bottom, Rupee also has hit rock bottom, this has never been the case all these years. Agreed,in Sept 2013 Rupee had hit a low of 68.2 briefly, but then Crude was more than 100$/barrel. What's happening now is totally illogical. When there's no other excuse, blame it on devaluation of Yuan.

    DisAgree [4] Agree [27] Reply Report Abuse

  • geoffrey, hat hill

    Wed, Feb 24 2016

    Shetre, the reasons that you have presented sound a lot more plausible than those by the honorable minister.Not even once the minister has referred to the increase in defense expenditure that had compelled the government to keep the petroleum products prices high. Just wondering why the minister chooses to prevaricate about this when anyone with little common sense finds it difficult to buy this.

    DisAgree [5] Agree [12] Reply Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    Common sense with blind hatred towards your own PM is dangerous...

    This govt is investing in the future of this country. Of course the govt can sell at 20 Rs per liter, give all bhagyas for free, borrow heavily from international institutions, build up swiss accounts & let the economy go to dogs..... This is the best way for all blind haters who are used to 60 years of looting & free dollies.......

    For your info, this govt has settled around 20 to 30% of our debts in the last 18 months. So whats better??...repaying debts or keeping paying interests forever...

    Let's come out of this free mentality & put in 50 years of hard work so that our nation becomes a developed country......

    We have a lot to learn from countries like Germany & Japan who rebuilt a ruined country in 30- 40 years by toiling day & night & not crying for freebies....

    DisAgree [14] Agree [6] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Feb 25 2016

    Shetty, are you also a party to this LOOT ...

    DisAgree [6] Agree [24] Reply Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    Jossy...your admiration for the Italian LOOT family is itself admirable...

    Its difficult for people who are fans of 60 years LOOT to come out of this LOOT mentality......

    DisAgree [16] Agree [3] Reply Report Abuse

  • Prasad Salian, Banglore

    Thu, Feb 25 2016

    Shetre

    Please check your comment dislikes. people are not fool to understand what is right and what is wrong

    DisAgree [2] Agree [10] Report Abuse

  • shetty, Mangalore

    Thu, Feb 25 2016

    Salianre....what else do you expect in this??...

    So much hatred for Modiji that they can't see what good is being done to them only....

    what do your expect from sickulars like rajdeep/barkha other than brick bats??

    DisAgree [4] Agree [3] Reply Report Abuse

  • alfria, mumbai

    Wed, Feb 24 2016

    Minister says the price of petrol in India is Rs. 59/- I want to just ask these Feku's whether he is selling petrol in India or some other God forsaken place which Feku has discovered because I do not find anywhere petrol being sold for Rs. 59/- at least not in mumbai. It is Fekugiri at its peak.

    DisAgree [6] Agree [41] Reply Report Abuse

  • JJ, mlore

    Wed, Feb 24 2016

    Additionl excise duties are in the pockets of the refineries owned by people close to BJP. Whichever govt. in power, crude imports have been a very strong means of earning side income BIG TIME. Loss making government sector ONGC etc are just for show.

    DisAgree [6] Agree [26] Reply Report Abuse

  • MW, DUBAI

    Wed, Feb 24 2016

    KYA PANOTI HI BHAI... YEAR 2014 AND SPECIAL A MONTH MAY...

    DisAgree [6] Agree [26] Reply Report Abuse

  • KRPrabhu, Bangaluru

    Wed, Feb 24 2016

    Devaru kottaroo poojari bida.....

    DisAgree [2] Agree [10] Reply Report Abuse

  • macho, mangalore

    Wed, Feb 24 2016

    MODIS,way of ACHE DIN who sponsored him for election campaign, return back call it "THANKS GIVING/GRATITUDE"
    How this MODI was shouting mera 56 nch, mera ..... i will bring 1$-1 ruppe, 15lakh to all accounts, all TUSSSSSS.
    I think BJP will loot in 5 years, what they claim congress did in 60 years. At least CONGRESS does not play communal hatred politics what you see in country everywhere.All good founder BJPinas are made sit at home By GUNDA SHAH,and killer MODI

    DisAgree [3] Agree [33] Reply Report Abuse

  • Prasanna, Mangalore

    Wed, Feb 24 2016

    That means petrol price should be below Rs.20/omg

    DisAgree [3] Agree [55] Reply Report Abuse

  • Indian, mangalaore

    Wed, Feb 24 2016

    this is called fekunomics..here well being of super riches are taken care of. For people like me and you will get only beautiful bhashans of our PM.

    DisAgree [6] Agree [59] Reply Report Abuse

  • habib, Mangalore

    Wed, Feb 24 2016

    ha ha andhe bakthon ki ache din aya. global market value of crude oil per ltr is 20% less than 1 ltr mineral water .

    DisAgree [4] Agree [36] Reply Report Abuse

  • Arif Shabu, Uchila

    Wed, Feb 24 2016

    This is call acche din for aam aadmi

    DisAgree [3] Agree [48] Reply Report Abuse

  • Langoolacharya., Belman/Washington,DC.

    Wed, Feb 24 2016

    People,

    BJPeeen is playing games with people of India...taxes are increased when crude prices are decreasing...Ambani and Adani's are having refineries and retail outlets...Government don't get these taxes fully...Ambani's and Adani's along with BJPeeen are pocketing the taxes...

    I think these crooks need a powerful kick on their backside...only one person could give this kick to all of them...that person is Arvind Kejriwal...

    Moily and Mukesh Ambani...stil lick the wound Arvind gave them in his first term(Gas FIR)...

    ...JH...

    DisAgree [4] Agree [69] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Feb 24 2016

    BJP thinks all Indians are DUFFERS ...

    DisAgree [7] Agree [78] Reply Report Abuse

  • Suleman Byari, Udupi

    Wed, Feb 24 2016

    @ Jossey....
    Yes...We DK's and Udupians proved in ZP and TP election.

    DisAgree [3] Agree [21] Reply Report Abuse

  • Ronald Rajesh Pinto, Angola, Africa, Adkabare, Bajpe

    Wed, Feb 24 2016

    Devaru Kottaru Poojari kodlilla

    DisAgree [1] Agree [12] Reply Report Abuse

  • Joseph, Qatar

    Wed, Feb 24 2016

    No matter what the logistics are provided - before BJP came into power or later, be assured that the pricing on fuel commodities are determined by the Petroleum Ministry (out of the portfolio) in joint collaboration with the refiners across the country vis-a-vis the overseas market after the final issuance with OPEC's norms concerning raising / declining the oil production. Granted the fact that the pricing in India is in its highest since the refiners were always crying for a fair deal since their claim of back-to-back losses on subsidies granted by the Government, various taxes in India has not been able to push the pricing down and will never be able to do so. The oil markets here are always in an overloaded position (plenty of availability) but are bullish on the pricing since there is a currency and production fluctuation on a daily basis. Hopefully there will be a flexibility in controlling pricing because Russia is now taking on with OPEC and trying to to freeze oil output ''to help address glut''. One wishes, it augurs well for India. There couldn't have been a better time with oil pricing lifting spirits high of our economy.

    DisAgree [3] Agree [21] Reply Report Abuse

  • Gangaram, Moodbidri

    Wed, Feb 24 2016

    In case BJP in opposition, they would do bharath bandh 100 times now for not reducing the petrol price.

    DisAgree [4] Agree [96] Reply Report Abuse

  • Ganesh, Bengaluru

    Thu, Feb 25 2016

    1 day Bharath Bandh is better than Parliament Bandh by Sickular party/Dongis

    DisAgree [2] Agree [1] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Feb 24 2016

    Another Freedom 251 ...

    DisAgree [6] Agree [64] Reply Report Abuse


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Title: Global crude down 2/3rd since May '14; petrol falls only 16%



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