Breaking News

[Rastima]

At least something is better than nothing.

Yeah, Little help for the volets.

News says it will reduce the prize by RS 20.00 staring mid-night (5th), Hope its not going to have huge queues around the city since its weekend.

[triptronic]

yeah something better than nothing but hope it will be cheaper in the days to come.

[kumaras]

Since the SC has ordered to withhold payments to banks regarding hedging deal, the full profit slice is enjoyed by the Ceypetco/govt. Can’t they give us a better deal?

Or am I being too greedy, too fast…

At least something is better than nothing.

Gvt could do nothing but resort to drop Petrol to marginalize SC decision on bank deal & due price formula.

Thanks vigelent public !

[Gummybr]

Since the SC has ordered to withhold payments to banks regarding hedging deal, the full profit slice is enjoyed by the Ceypetco/govt. Can’t they give us a better deal?

Or am I being too greedy, too fast…

At least something is better than nothing.

I presume the price will come down more now since SC has asked the Treasury to check on what can be done. Fingers crossed

[Rastima]

Lets hope those minds wont change for some time!!!

Edited December 5, 2008 by Rastima

[xXx]

On a slightly more upbeat note... Petrol is to reduce by another 20 bucks today... every little bit helps i guess.

you know what that means. an election is around the corner. atleast one PC will be dissolved next monday soon after the 3rd reading of the budget. but if what ripster said in the other thread is true we may be looking at a general election. that is too much of a bigger news to be held back unless the big man got a new trick up his sleeve.

Or am I being too greedy, too fast…

At least something is better than nothing.

you may be. cess on both petrol and diesel was increased by Rs.20 end of last week. government sure wants to eat into the profits. plus don't underestimate the banks. they will fight back if CPC defaults the payments. according to Fawsi cabinet has given the approval to go ahead with the chosen hedging agreement.

[GihanFX]

guys how much is 95 oct 1L now ?

Edited December 5, 2008 by GihanFX

[xXx]

you know what that means. an election is around the corner. atleast one PC will be dissolved next monday soon after the 3rd reading of the budget. but if what ripster said in the other thread is true we may be looking at a general election. that is too much of a bigger news to be held back unless the big man got a new trick up his sleeve.

guess i was right after all

2 Prov. Councils to be dissolved tomorrow

http://www.dailymirror.lk/DM_BLOG/Sections...spx?ARTID=34494

but i'm still puzzled by the whole killinochchi story. any conspiracy theories boys?????????

[miniace]

guess i was right after all

2 Prov. Councils to be dissolved tomorrow

http://www.dailymirror.lk/DM_BLOG/Sections...spx?ARTID=34494

but i'm still puzzled by the whole killinochchi story. any conspiracy theories boys?????????

Step#1 PC s will be dissolved

Step#2 Kilinochchi will be captured.(will not publish govt troop fatalities and casualties)

Step#3 Price of diesel will be reduced

Step#4 Fowzie (or maybe Cabraal) will be sacked

Step#5 Price of LPG will be reduced again

Step#6 Will abandon Mihin project

Step#7 PC polls will be held

Step#8 Now happy majority will be with Govt

Step#9 Team Govt will win

Step#10 Price of Milk Powder,LPG,Petrol,Diesel and Kerosene will be increased

Step#11 Life goes on....

I love this country!!

MINIACE

[Sanjaya Ratnaweera]

guys how much is 95 oct 1L now ?

135 rupees

[Devinda_Z]

Step#1 PC s will be dissolved

Step#2 Kilinochchi will be captured.(will not publish govt troop fatalities and casualties)

Step#3 Price of diesel will be reduced

Step#4 Fowzie (or maybe Cabraal) will be sacked

Step#5 Price of LPG will be reduced again

Step#6 Will abandon Mihin project

Step#7 PC polls will be held

Step#8 Now happy majority will be with Govt

Step#9 Team Govt will win

Step#10 Price of Milk Powder,LPG,Petrol,Diesel and Kerosene will be increased

Step#11 Life goes on....

I love this country!!

MINIACE

ROTFL

MiniAce when did u turn into such a brilliant political analyst?!

[miniace]

ROTFL

MiniAce when did u turn into such a brilliant political analyst?!

Read Mervyn Silly's 'Politics the Sri Lankan way" book

MINIACE

[Watchman]

its nice to see fuel prices going down for a change.

But besides the banks another party made a bundle of cash on the hedging.. IOC.... they were buying crude at $46 a barrel and selling it at the local price.. thats being at the right place at the right time for them

[GihanFX]

135 rupees

thanx

[NPP]

its nice to see fuel prices going down for a change.

But besides the banks another party made a bundle of cash on the hedging.. IOC.... they were buying crude at $46 a barrel and selling it at the local price.. thats being at the right place at the right time for them

didnt think abt it...

if it was tru, man they are soooo bad aren't they

[xXx]

best headline after a long long time

Karu back in fray

http://www.dailymirror.lk/DM_BLOG/Sections...spx?ARTID=34623

i was so disappointed the budget voting yesterday as i was expecting this move yesterday itself. well better late than never. will this possibly be the long due beginning of the end for MR & Co.............................

[xXx]

its nice to see fuel prices going down for a change.

But besides the banks another party made a bundle of cash on the hedging.. IOC.... they were buying crude at $46 a barrel and selling it at the local price.. thats being at the right place at the right time for them

i think the retail price is still good enough for them to make a profit. taking into account the local operation is run by only couple of dozen individuals and they didn't buy fuel stocks enough to last for 7 months when the prices were at its peak. plus there's a big difference between buying a barrel at $130 and $46.

its not only IOC few airlines also went through a rough phase due to hedging but atleast they had an exit clause. it’s only our fools who are putting the blame on the concept of hedging rather than gunning down the idiot who chose the wrong instrument or the idiot who approved it with out scrutinizing the agreement properly

[xXx]

Step#1 PC s will be dissolved

Step#2 Kilinochchi will be captured.(will not publish govt troop fatalities and casualties)

Step#3 Price of diesel will be reduced

Step#4 Fowzie (or maybe Cabraal) will be sacked

Step#5 Price of LPG will be reduced again

Step#6 Will abandon Mihin project

Step#7 PC polls will be held

Step#8 Now happy majority will be with Govt

Step#9 Team Govt will win

Step#10 Price of Milk Powder,LPG,Petrol,Diesel and Kerosene will be increased

Step#11 Life goes on....

I love this country!!

MINIACE

ha ha nice analysis. doubt step six will be executed. it'll be a huge blow to the government to admit they were wrong after all. i doubt cabral will be given the sack either. he has taken far worst decisions with dangerous precasions to yet to be felt (in the very near future of course). plus i heard he is a close associate of the big boss. it'll be interesting to see what'll happen to Fawzi taking into account he's still popular among his vote base.

silver lining in this analysis is step 6 is well underway. once the CPC's agreement with Laugh comes to an end in couple of months they are planning to start their own LPG business. with elections around the corner it'll be just like the 'Upahara' package. no complaints there though.

[Miyuru Daminda]

Supreme Court today directed the Treasury Secretary to forward a pricing formula for fuel with tax not exceeding 100% on December 17. Courts also suspended the Ceylon Petroleum Corporation Deputy General Manager over the controversial hedging deal with immediate effect.

then petrol price will be less than Rs100

[Miyuru Daminda]

Supreme Court today directed the Treasury Secretary to forward a pricing formula for fuel with tax not exceeding 100% on December 17. Courts also suspended the Ceylon Petroleum Corporation Deputy General Manager over the controversial hedging deal with immediate effect.

then petrol price will be less than Rs100

[Miyuru Daminda]

Supreme Court today directed the Treasury Secretary to forward a pricing formula for fuel with tax not exceeding 100% on December 17. Courts also suspended the Ceylon Petroleum Corporation Deputy General Manager over the controversial hedging deal with immediate effect.

then petrol price will be less than Rs100

[ash]

According to MTV News Govt. is taxing 189% on petrol. My calculations cames up with the figure Rs.76/- after the reduction.

According to the news SC has ordered the Govt. to look in to this before Wednesday. One thing for sure, all the petrol sheds will run out of gas soon. Better pump a full tank.

When I opened this thread I gave an emoticon to the title. Can I change it to now?

[ash]

Their calculations are different. Anyhow gas will be reduced to 98/-, according to latest reports.

According to the Court order the amount that would go down below the bench mark price to be absorbed into the Government tax component and thus would be able to keep the prices constant.

In case there is an increase in the price of a barrel of petrol exceeding the Bench mark price of US $56, the tax component should be decreased accordingly up to 75% cushioning the overall effect on the consumers.

Chief Justice Sarath N. Silva PC noted that with the cancelling of the agreement the CPC is saving some US$ 46 million for this month that otherwise should have been paid to Standard Chartered Bank. He further added as a result the CPC is now in a position to reduce the petrol prices.

He noted that the current price of a barrel of petrol is around US$ 42.

[DarkangeL]

at last...it's going to b less than 100 bucks....

[Ripper]

at last...it's going to b less than 100 bucks....

oh well... somehow government will find a way to get the loss revenue from the public....

Edited December 16, 2008 by Ripper