Showing posts with label Fuel Price Rise. Show all posts
Showing posts with label Fuel Price Rise. Show all posts
Wednesday, July 1, 2009
Petrol and Diesel prices hiked
This is just in. Indian Government has hiked the prices of Petrol and Diesel today. Consumer Psyche had predicted this hike and suggested to refuel your vehicles before the hike yesterday. Now are you going to buy that atta and rice?
Monday, June 23, 2008
Fuel Price - OPEC
News has just come in that King Abdullah of Saudi Arabia has said that the largest oil producing country of the world Saudi Arabia will up its oil output to 9.7 million barrels per day. He hinted that this number may also go up to 12.5 million barrels in the future.
In his statement, he also said that OPEC have never tried to shoot the oil prices towards north - he lays the blame of the present oil crisis on speculators. He also said that countries levy huge oil taxes and then sell to their citizens thus pushing up oil prices. In India, government adds atleast Rs. 10 towards the price of petrol and then gives a lot of subsidies in this regard (due to the sudden rise nowadays)! All his arguments may tempt people to think that oil prices will go down………Due to increased supply by Saudi Arabia and subsequent cooling off. But some oil analysts and economists beg to differ.
Not only is crude oil technically very strong but it might just go all the way to $145 - $148 if a short selling comes in oil in the next few days. Short selling essentially means- when people take a bet that oil prices will fall. When their bet is successful, they speculate even more. Finally at unresistable rates all their bets reverse due to market forces which compel the oil prices to rise one-way. Therefore, it is expected that perhaps, oil prices may rally to $148 a barrel in the near future.
In this time of uncertainty, it would not be wise to call the shots so early. Rest all depends on the forthcoming meeting between OPEC and Federal Reserve (of US) later this month.
Source: Yahoo Groups
In his statement, he also said that OPEC have never tried to shoot the oil prices towards north - he lays the blame of the present oil crisis on speculators. He also said that countries levy huge oil taxes and then sell to their citizens thus pushing up oil prices. In India, government adds atleast Rs. 10 towards the price of petrol and then gives a lot of subsidies in this regard (due to the sudden rise nowadays)! All his arguments may tempt people to think that oil prices will go down………Due to increased supply by Saudi Arabia and subsequent cooling off. But some oil analysts and economists beg to differ.
Not only is crude oil technically very strong but it might just go all the way to $145 - $148 if a short selling comes in oil in the next few days. Short selling essentially means- when people take a bet that oil prices will fall. When their bet is successful, they speculate even more. Finally at unresistable rates all their bets reverse due to market forces which compel the oil prices to rise one-way. Therefore, it is expected that perhaps, oil prices may rally to $148 a barrel in the near future.
In this time of uncertainty, it would not be wise to call the shots so early. Rest all depends on the forthcoming meeting between OPEC and Federal Reserve (of US) later this month.
Source: Yahoo Groups
Thursday, June 19, 2008
Hike In Air Fares Announced
Confronted with spiralling aviation turbine fuel prices airlines which include both low cost carriers and full service carriers are slated to increase their fares by 5 % to 10% per cent across all sectors, from tomorrow.
Read more.
Read more.
Wednesday, June 18, 2008
Fuel Price Rise: The Snowball Effect II
I think people dont wait to charge more. They always look for a chance to charge more. So I think the effect would be much earlier than Diwali season unlike what Economic Times felt.
Todays news confirms the price rise.
Read the full story here.
Wednesday, June 11, 2008
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