Petrol, Diesel Price to Go Up from June 1

The price of petrol and diesel would go up by Rs.1 and 0.45 respectively from June 1, according to media reports. The state run oil companies have been reviewing the price every fortnightly. Recently the devaluation of rupees against the US dollar could be the major reason behind the hike in the prices.

Since the petrol and diesel prices were deregulated, the price of these goods in the domestic market has been changing in compliance with the international crude price. Due to the high value of dollar against Indian rupees, the crude price becomes dearer for Indian oil firms.

In order to reduce the loss due to the devaluation of rupees, the oil firms are bound to raise the price and the direct burden would be on the consumers those are the end buyers at retail rate.

On the flip side, the price of petrol and diesel were cut couple of months ago due to the decrease in the crude price at the international market. However, the consumers would be need to pay more for the petrol and diesel from June.

And the prices may go down again if Indian rupees become stronger in the currency market.

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Diesel Prices will be Hiked every Month

Minister for Oil M. Veerappa Moily, said that diesel prices will be hiked by 40 -50 Paisa per liter every month, till losses on the nation’s most used fuel are completely wiped out.

On January 17th the Government decided to deregulate oil prices from state control, and the powers were given to state owned oil firms. The firms may raise the prices in small measures every month, till all their losses are cleared.

The minister also added that the decision to raise diesel prices in small doses every month will stand until further orders. The decision for retail price hike was coupled with a move to charge bulk consumers like defense, railways and state transport undertakings market price which is almost Rs.10 a liter more than retail selling rate, to save an estimated Rs.12,907 crore in annual subsidy.

The states like Tamil Nadu and Kerala asked their public transport people to refuel at petrol pumps instead of buying diesel from oil firms directly, as they are doing till now. Doing so they will avoid paying the market price mandated for them.

Moily said this point has come to his view and suggested that, instead of doing so, the states should reduce local sales tax and VAT on diesel to cut prices.

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9 Subsidised LPG from April 2013: Govt

The government of India has hiked the number of subsidised LPG to nine from April 2013 from existing six per year on Thursday.

The meeting of Cabinet Committee on Political Affairs (CCPA) was held on Thursday, which gave its nod to increase the number of subsidised LPG cylinders per year.

The cabinet has also gave its nod for "small quantum" periodically hike in diesel price by oil companies.

From April 2013, the customers will get nine subsidised LPG cylinders per year.

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Diesel and LPG rates may go up - Kelkar Reports

Diesel, LPG and kerosene prices may go up as soon as UPA government gives a green signal to the Vijay Kelkar Committee's reports.

Vijay Kelkar Committee is appointed by the Finance ministry to suggest a path to reduce fiscal deficit and improve financial strength of the country. As per its reports, Kelkar Committee suggests immediate hike in diesel prices, which in later case will be efffective for both LPG and kerosene too.

The committee suggests complete deregulation of diesel prices by start of 2014-15. While addressing the media reporters Oil Minister M Veerappa Moily said, "That (Vijay Kelkar committee recommendation on deregulating diesel and raising kerosene and LPG rates) is a proposal. It is still at proposal stage. The (Petroleum) ministry is only processing that report and we are yet to take a decision."

If Government goes as per the reports of Kelkar committee, then diesel prices will be subsequently going up in the next year to bring complete deregulation on diesel prices. Right now diesel price in Delhi is Rs. 47.15, which has its steep change of Rs. 5.63 in last September.

Oil companies are now a taking a loss of Rs 10.16 per liter diesel, Rs 32.17 a liter kerosene and Rs 490.50 per 14.2-kg cylinder LPG. So as per the reports - with the hike in price, it will be soothing for both the companies and people. While talking to press, oil minister also focused on increasing the cap on subsidized gas cylinders from 6 to 9 per year.

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Petrol, diesel pricce to go up again

Petrol price to go up again

Business News: The price of petrol and diesel would go up by 30 paise and 18 paise respectively following hike in the dealer commission by the petroleum ministery on Thursday.

According to media reports, the dealer commission on petrol increased to Rs.1.799 from Rs.1.499 a liter while on diesel to 1.09 a liter from earlier commission of 91 paise.

The hike in the petrol and diesel price would be burden on the people those have been already in panic due the inflation and cap on LPG cylinders.

The dealers commission was revised last time in July 2011.

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How should Common Man Deal with High Oil Prices?

This is kind of issue, that has lead to the fall down of many governments and lead to many protests by the public and various parties, but strangely, no solution could ever be made out. There are various reasons as to why the oil prices keep increasing. But the point is, how a common man, can cope up, with the ever increasing oil prices.

The budget for the fuel, is ever increasing, but not the pay check, so what’s the solution. If possible, the best way to reduce the fuel budget is to depend on the public transport system, all that you need to do is to start a bit early from the home, and take a few minutes’ walk. There are buses operating, and share autos moving in and around all the major places with in the city.

If you have good relations with your team members or co workers or peers, you can team up with someone near to your living place, and go with him or her in their vehicle, you can share their fuel expenses, this way, you will save some money on transport or fuel, they will save their money and both will travel in comfort.

If you are not comfortable with any of the options, and want to use your own vehicle, ok. But you can keep its usage to the minimum, only from office to home and home to office. When going to other places, where there are no, should be in time problems, you can use public transport. Now a days we have got so used to using vehicle that even to go the end our street we use vehicle, we can stop doing this.

For nearby places we can go by walk, good for health and good for pocket. Or you can share your fuel expenses by taking along with you, one of your peers and asking him to share the fuel expenses, this way both are at profit.

Last, but not the least, keep praying to God that some day for the benefit of common man, fuel prices will go down. Not a bad idea. So, keep going Guys.

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Raising Petrol Prices-Government Can Control?

Before talking about, regulation of fuel prices, and other aspects, it is important to know the reason as to why fuel prices go up. The main reasons, the cost of crude oil and the cost of refined petrol and diesel on the world market. Crude oil makes up a significant portion of the cost of fuel. Crude oil is traded in US$ as a commodity on the international market. The market is influenced by a number of factors including global demand, supply, political events and manufacturing capability.

Refineries purchase crude oil on the international market to make it into petrol and diesel. Refined product is also traded on the international market and has its own pricing. As with crude oil the market moves according to global supply and demand. When the price of refined fuel rises, need to pay more, and when it drops, we pay less. In brief, a combination of the cost of crude oil and refined products are a significant factor, in determining, the price we pay for fuel.

The next most influential factor on the price at the pump is the exchange rate, as oil and refined products are sold in US Dollars. International shipping also has an effect on the price. Competition, in a particular market and transport costs are also the other main factors that cause prices to sometimes vary from place to place.

So, all these factors have a very major role to play, in determining the fuel prices, and if Government has any control, it will be only in the subsidy that it is giving. We cannot create crude oil wells, or petrol wells, but there are definitely things we can do on our part. We can definitely use the resources we have carefully, and can take measures to educate people and to create awareness, in the public to use fuel carefully, to the needed extent. And we can start investing on research and development for solutions on alternatives on fuel usage, for the future needs.

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Buying a Car and Maintenance

When thinking of buying a car, concentrate on buying a good quality car, which you will use at least 6to 7 years. When choosing a model it is extremely important to be clear on certain aspects, such as, how frequently you will use car, regularly or occasionally, what kind of usage purpose you have, you want car to travel within the city or place you reside, or you will travel long distances. As per the need you should make a choice, there are various models, which fulfill specific purposes, some are good for long distances, some within the city limits etc.

Another important factor that you should consider while purchasing a car is that on what kind of roads you will drive the car, you can afford buying a Ferrari, or a best sports car, but will it suit the roads you are going to drive? The kinds of roads you drive on, also have a role to play, in the proper maintenance of the car, so, this aspect should not be neglected. Mileage is another important factor to be considered while planning to buy a new car, with the prices rising very frequently, it is also important for you to decide, as to, what kind of fuel operating car you want to choose, petrol, diesel, or gas.

Which one will be more economical and give more mileage, is a fact to be considered. Buying small models is always preferable, they are always cheaper because they are lighter and give better mileage, they are easy to park and move around, so no worries regarding parking places and going around in traffic places. Not only that when you prefer taking small cars, insurance costs are also cheaper.

Once you have bought the car it is important that you take care of its maintenance, it is important to keep your car properly tuned, because a poorly tuned car uses 25% to 33% more fuel each year. Keeping aside what owner’s manual recommends, you should change the oil and oil filter in your car every 3000 miles, this will help in extending the life of the engine, and you save more on repairs and engine wear. Using steel belted radial tires increases mileage up to 10% per year.

You should check you cars air filter monthly, a dirty filter shortens engines life and reduces mileage up to 10%, you can clean filter by removing it, and blowing it with a air hose or you can replace it. It is important to check your tyre pressure regularly as you can loose on mileage. You should get your tires balanced at least once a year. You should check the fluid levels regularly, Low battery water, shortens your battery's life. Also check coolant, automatic transmission fluid, brake and clutch fluids.

These tips help you to make a better decision, to select a car that best suits your needs, and help you maintain your car, for better mileage and great engine life.

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Petrol price to go up again?

Business News: There are chances of getting petrol costlier again by the end of March, as the oil companies are reportedly preparing the hike the petrol price to cover the loss due to low price. The budget is over and the elections in the five states, so it has been anticipated that the petrol price might go up after the budget.

The hike in the petrol price is going to hit the pocket and budget of household, which has already been crushed due the hike many times before. However, the government will review the price of diesel, which might seen a hike as well.

The high inflation in the goods and services has been weighting high on the common-men in this country. The union budget gave bit relief by raising the income tax slab to 2 lacs. The once more hike in the petrol price will push the inflation further up in the country.

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Petrol Price to go up Again?

Business News: The petrol price in India might go up by 0.65 paise from this Friday following fall in the value of rupees against US Dollar. The costly Dollar made the imports costlier, which has big impact on Indian economy too. The oil companies in India reportedly got the approval from the government for the possible hike in the petrol price.

It will impact the household budget of common man in India, where they have to pay more for the petrol comparing to the other nations in the world. Recently, the oil companies have slashed the price of petrol by around Rs. 2 and now the again hike would be big blow for the people to pay for it.

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