🙂 Will Petrol go back to 1963 Rates in India as on this old bill from then ! ? ~ Question is of course rhetoric !
Read that again ! It’s just Rs 3.60 for a full 5 liters !=> that’s 72 paise a litre nearly 53 years ago on February 2,1963 !…it’s surged to current @ Rs 70 a litre which is in absolute terms 9600+% and in CAGR Terms just 9%
You can dramatically of course say that 72 paise has become 72 rupees in just over half a century !
Today everyone has an Opinion on Oil Rates !
Of Course very Few ,if at all any, had predicted in mid 2014 that they would halve from US $ 100/barrel
Now many are predicting they will halve even from current US $ 41.65 (WTI) & US $ 44.61 (Brent) ! .Here’s an interesting article of October 2015 on Oil & the Syrian War
Great for India if it does halve from the halve already in on year !…it’s cushioned our FY 15 & FY 16 significantly as we import 3/4 ths of our growing requirements and we are growing at 7.4% GDP on last count
Oil’s Well that ends Well !
India is in a sweet spot !…for now…will it get sweeter?
8 thoughts on “A Rhetoric Question ~Will Petrol In India go back to 1963 Rates !?”
Nice blog. just found it today.
I’d been shorting oil ETF’s a while back, and just last night met some guys who were buying up oil wells a few years ago and they got hit hard.
It’s near impossible to predict the future, but as a lot of oil investors are becoming a bit depressed, it seems that we’re *somewhat* near a potential turning point. I wouldn’t buy any oil related products yet, but I certainly tend to view the current negative psychological state of many oil investors as indicative that we’re nearing a low.
Time will tell.
1963 mai ball pan nahi hota tha
Bhaiya Agrawalji,ballpoint first 1888 may invent hua lekin evolve hua 1938 say aur 1963 may India may bhi aaya tha….lekin main point toh yeh hai ki Petrol ka bhav 1963 may sirf 72 paise per litre tha !…1989 may Rs 8.50 hua aur double @ Rs 17 hua 1994 may aur phir badhta hee gaya…aaj @ Rs 70 bharthey hai despite Crude US $ 100/barrel say aadhey pey hai…anyway post was to put across a serious point in a lighter mode to highlight compounding & inflation over time…thanks for visiting the post & more for responding…Cheers,Gaurav
why ponder over a ball pen. That is my Dads hand holding the receipt and i took the picture. We found it when we were renovating our ancestral home at Poduru, West Godavari District, Andhra Pradesh. I took this kind of pictures of several documents before discarding them. I am Poduru Giri Durga Siva Prasad.
Nice blog..!! 1963 a govt clerk earning was about ₹20-₹30 per month and accordingly this prize 72 paisa was even more expensive as compared today. Knowing the fact that, at that time motor car was rare for people and all they could have was motorbike or scooter which mileage was very low as compared of the today’s efficient motorbikes and even cars. So inflation is something that is directly proportional to the earnings by times.
Investment in the petrolium wells are always safe and profitable.
Thanks
This is true but I think may be
It is a fake bill as Bharat Petroleum was incorporated in the 1974 only and the price was right as gallon(British) was selling at Rs.3.60
Hi Giri…it’s a bill of a private petrol pump owner styled as Bharat Petrol in Bassein at the time not of Bharat Petroleum…In any case price was right as you state 🙂