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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Litre of petrol up by Rs.10 from today

Litre of petrol up by Rs.10 from today

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21Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 12:00 pm

kuk83


Manager - Equity Analytics
Manager - Equity Analytics
salary increase by 750/= . petrol increase by 10/= . If you use avg 40L per month 400/= for that itself. Then what abt others ? Very Happy

22Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 12:11 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
My god.

This is a 2011 article and by now Sri lanka would have passed all of them. Not sure. IF any body knows please share the current Info...........

NEW DELHI: Petrol prices in India are costlier than the US but cheaper than European countries, Minister of State for Petroleum and Natural Gas R P N Singh said today.

Petrol in Delhi is priced at Rs 63.70 a litre, while the same in USA is priced at Rs 42.82 per litre. The price in India is more than any of its neighbours -- Pakistan (Rs 41.81 a litre), Sri Lanka (Rs 50.30 per litre), Bangladesh (Rs 44.80 a litre) and Nepal (Rs 63.24 per litre).

I think these figures are based on Indian Rupee.........

Thanks.
I believe it is always better if we can compare with other countries..........
But no data with me......................
Loving ashcharyaya .........?

23Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 12:18 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Diesel & Octane 95 will be adding soon generating more cash for devouring public funds. Gulp down system is well established & being continued smoothly in the CPC where good governance is unknown subject.

Chapter 51, page 359 of "The Winds of Sinhala",,," In a janapada, a people's state, when the king becomes righteous, his ministers & followers become righteous. When the ministers & followers of the king become righteous, the dwellers in the janapada become righteous"....

So,, no hiccup at all....let us live embedding with the miracle..



24Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 1:19 pm

sureshot


Vice President - Equity Analytics
Vice President - Equity Analytics
IO only 10.00 per Lt Sad

GallFace ekkay lamboginni,
appita pappuwai Ginni ......




25Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 1:25 pm

sureshot


Vice President - Equity Analytics
Vice President - Equity Analytics
it smelled me when LIOC was moving up from 18.50 - 21.00
did not like to burn my fingers by buying share.
so kept my car fuel tank full. Very Happy

same soon for Lauff Gas Laughing

26Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 1:42 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@sureshot wrote:IO only 10.00 per Lt Sad

GallFace ekkay lamboginni,
appita pappuwai Ginni ......




why matcho what about the dividends income and the CG you earn from trading/investing in CSE Surprised

27Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 1:46 pm

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics


[/quote]why matcho what about the dividends income and the CG you earn from trading/investing in CSE Surprised [/quote]


ewvaa paan kandath mathhi ban.... Sad

28Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 1:52 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Whitebull wrote:It seems some are shedding CROCODILE TEARS Razz
But anyway I can not see a reasonable reason for this price hike except mismanagement by responsible authorities including top level government officers who did gambling with public money.
But politicians can not put this blame only on these officers due to several reasons,
1.These top level officers are appointed mainly by politicians
2.Most of them are not punished for their irresponsible activities wasting public money.
3.Keeping of most of these officers still at top levels eventhough they have proved their irresponsible and inefficient activities towards their duties.
By the way everyone should keep in mind that wasting and thieving of public money is one of the worst sins.We have wittnessed their natural ill-fate.

You are absolutely correct in the reason what you mention, only a small correction when the so called politicians come to power then they start to shed crocodile tears towards public issues and care about their own family and their future generations.

29Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 2:48 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
True.

Other than some facts mentioned below, tell me another reason for this oil price hike? Coincidentally gas prices have come down in short term in some countries. In Sri Lanka it goes up.

See the below chart and you will notive there was no need for another hike accept for mismanagement/


http://ycharts.com/indicators/crude_oil_spot_price

@Redbulls wrote:
@Whitebull wrote:It seems some are shedding CROCODILE TEARS Razz
But anyway I can not see a reasonable reason for this price hike except mismanagement by responsible authorities including top level government officers who did gambling with public money.
But politicians can not put this blame only on these officers due to several reasons,
1.These top level officers are appointed mainly by politicians
2.Most of them are not punished for their irresponsible activities wasting public money.
3.Keeping of most of these officers still at top levels eventhough they have proved their irresponsible and inefficient activities towards their duties.
By the way everyone should keep in mind that wasting and thieving of public money is one of the worst sins.We have wittnessed their natural ill-fate.

You are absolutely correct in the reason what you mention, only a small correction when the so called politicians come to power then they start to shed crocodile tears towards public issues and care about their own family and their future generations.

30Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 4:00 pm

klpfernando


Manager - Equity Analytics
Manager - Equity Analytics
move will effect badly for most except LIOC.

31Litre of petrol up by Rs.10 from today - Page 2 Empty LIOC also increase petrol price Sat Dec 15, 2012 4:13 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Lanka Indian Oil Company (LIOC) says it will increase the price of a liter of petrol by Rs. 10 in line with the CPC petrol hike with effect from today.

CPC increased the price of a litre of petrol by Rs. 10 from midnight yesterday.
http://www.dailymirror.lk/news/24286-lioc-also-increase-petrol-price.html

sriranga

sriranga
Co-Admin
COLOMBO (Reuters) - Sri Lanka increased the price of gasoline by 6.7 percent on Saturday to a record level to prevent state-run Ceylon Petroleum Corporation (Ceypetco) suffering further losses, an official said.
Sri Lanka raised the price of a litre of gasoline by 10 rupees to 159 rupees, a record high level in terms of the local currency.

Susantha Silva, the managing director of Ceypetco said the state-run firm's losses stood at 75 billion rupees at the end of October because of the failure to pass the world market oil price on to consumers.
Silva, however, said Ceypetco would still lose 5 rupees a litre despite the price increase on Saturday.

Sri Lanka's only private sector fuel retailer, Lanka IOC PLC (CSE:LIOC.N0000), a subsidiary of Indian Oil Corporation Ltd (NSI:IOC.NS - News) increased its gasoline price in line with the state-run firm.

In February, Sri Lanka raised the price of gasoline by 8.8 percent, diesel by 36.9 percent, and kerosene by 49.3 percent to reduce the losses and curb cheap imports in the wake of a falling rupee, which has depreciated more than 14 percent since then.

Sri Lanka also faces constraints in importing cheap crude oil from Iran in the face of sanctions on Iran imposed by the United States because of its nuclear programme.

Sri Lanka's only 50,000 barrel-per-day refinery is designed predominantly to refine Iranian light crude, though crudes from Oman and Saudi Arabia can also be refined at a lower refining efficiency. (Reporting by Shihar Aneez and Ranga Sirilal)
http://uk.finance.yahoo.com/news/sri-lanka-raises-gasoline-price-111053866.html

http://sharemarket-srilanka.blogspot.co.uk/

33Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Sat Dec 15, 2012 9:18 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@sriranga wrote:
Susantha Silva, the managing director of Ceypetco said the state-run firm's losses stood at 75 billion rupees at the end of October because of the failure to pass the world market oil price on to consumers.
Silva, however, said Ceypetco would still lose 5 rupees a litre despite the price increase on Saturday.


Now these ppl rely on Govt to bring the CPC to profits... Damn useless management @ CPC.

To bring the profits up and to reduce the 75Bil Loss, Govt will have to raise the Petrol to 200 and Diesel to 150. Then run this for another year at least.

This is the wonder of SL. Rather than removing these nut heads, Govt happily increase the fuel price.

Last time I remember like many members agreed that fuel price should not be brought down despite the decrease in price of crude oil. And now we see CPC is still urging for more..



Last edited by smallville on Mon Dec 17, 2012 10:41 am; edited 1 time in total (Reason for editing : corrected a typo.)

34Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Mon Dec 17, 2012 9:26 am

Light of Hope


Vice President - Equity Analytics
Vice President - Equity Analytics
I had enough with this stupidity of the people with power. So this is there way, pass all the burden to the public and increase all their luxuries. They need to bring in structural changes to many of the corporations, with zero productivity most of them get 50,000 to 100,000 overtime pay each month. so obviously it will run in a loss. not to forget all the corruption. If they can't run these properly, privatize them. What's the point having corporations which are burden to the public.

Did you guys get the new water bills??? check it out

35Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Mon Dec 17, 2012 12:02 pm

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
SPC is over staff due to political appointments

sPC also incur losses as a result of inefficient management inherent by public sector..Cost of Hedging Deal etc

But Indian oil company selling Prices also same ?


36Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Mon Dec 17, 2012 6:59 pm

Light of Hope


Vice President - Equity Analytics
Vice President - Equity Analytics
@D.G.Dayaratne wrote:SPC is over staff due to political appointments

sPC also incur losses as a result of inefficient management inherent by public sector..Cost of Hedging Deal etc

But Indian oil company selling Prices also same ?



I don't think CPC will allow them to sell at a lower level, even though they can. They will make good profits again...

sriranga

sriranga
Co-Admin
Dec 17 (Reuters) - Sri Lanka's move to raise gasoline prices by 6.7 percent will not have an inflationary impact, government and central bank officials said on Monday.

The country on Saturday increased the price of gasoline by 10 rupees to 159 rupees ($1.24), a record high in local currency terms, to keep state-run Ceylon Petroleum Corporation (Ceypetco) suffering further losses.

"It won't have much impact," said D.C.A. Gunawardena, the director general of the state-run Department of Census and Statistics, which compiles inflation data.

The central bank governor, Ajith Nivard Cabraal, said any impact would be "marginal".

The government did not raise the price of diesel, which has a greater weighting in Colombo's consumer price index.

In November, the annual inflation rate in Sri Lanka rose to 9.5 percent from 8.9 percent a month earlier, thanks to short supply in the farm sector.

($1 = 128.55 Sri Lanka rupees) (Reporting by Shihar Aneez)
http://in.reuters.com/article/2012/12/17/srilanka-inflation-idINL4N09R1NK20121217

http://sharemarket-srilanka.blogspot.co.uk/

38Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Mon Dec 17, 2012 7:47 pm

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
It appears that the Impeachment has already effected Census and statistics
Dept also This is one of the govt institution never politicize as far as i know

Central Bank governor is a politician We can expect that type of statement from him



Last edited by D.G.Dayaratne on Mon Dec 17, 2012 7:50 pm; edited 1 time in total (Reason for editing : typing mistake)

39Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Mon Dec 17, 2012 8:50 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Light of Hope wrote:
@D.G.Dayaratne wrote:SPC is over staff due to political appointments

sPC also incur losses as a result of inefficient management inherent by public sector..Cost of Hedging Deal etc

But Indian oil company selling Prices also same ?



I don't think CPC will allow them to sell at a lower level, even though they can. They will make good profits again...

On the other-hand, a private company wont let the opportunities pass by even if they were allowed Laughing

40Litre of petrol up by Rs.10 from today - Page 2 Empty Re: Litre of petrol up by Rs.10 from today Tue Dec 18, 2012 11:25 am

Light of Hope


Vice President - Equity Analytics
Vice President - Equity Analytics
@nimantha80 wrote:තමුන් හරකුන් බව නොදන්නා රටවැසියන් ලද රජුන් වාසනාවන්

specially the opposition leader LOL

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