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Old 24th May 2012, 21:37   #241
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

OT! Most of the pumps south chennai did not have diesel today. Reasons mentioned were anything between "shortage of power" ( to fill the tankers ) to "no oil to send us". expected supply- anything between 2 hrs to No idea. Anyone has had similar experience in different parts of the city?
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Old 24th May 2012, 22:47   #242
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Slightly OT but came across this in Facebook:

Indian fuel prices compared to other countries (all in Rupee(s)/liter):
India (Delhi) - 73.18
Pakistan - 53.70
Sri Lanka - 61.70
America - 53.70
Bangladesh - 52.42
Russia - 50.20
Saudi Arab - 6
Kuwait - 11
Iran - 17.40

All thanks to the (approx.) 40% (Rs. 29.25/liter) of tax applied on petrol, it costs Rs. 73.18 in India (Delhi) which would otherwise cost Rs. 43.93..!!

Source: Zee News.

PATHETIC!
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Old 24th May 2012, 23:01   #243
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by Vid6639 View Post
I think it's about time by the Karnataka government looks at reducing the state tax for Petrol. Karnataka is the only city that has petrol priced above Rs.80. Where other cities increased prices by Rs.7.5, in Karnataka the increase is Rs.8.5 thanks to higher state tax.

I would atleast expect Karnataka govt. to reduce tax to match Delhi or Chennai. I am not even asking for removal of tax like Goa. Atleast reduce the burden for the porr souls of Karnataka.
I agree with this completely. Karnataka has a higher tax on fuel than most states and this hurts the motorists. While Goa is too generous, a reduction of tax will definitely come as a relief to our motorists. I fail to understand the government here though. On one hand the BJP will voice their opinion against the center shooting down petrol price hikes. On the other hand, they continue to keep the tax high in this state. I mean, choose a path and stick to it! Honestly, I feel BJP would have done the same in this situation. So no point in being political about it!

OT: I guess you meant to say *Bangalore* is the only city.., instead of Karnataka in your post above!

Cheers!
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Old 24th May 2012, 23:15   #244
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by vvijay View Post
Slightly OT but came across this in Facebook:

Indian fuel prices compared to other countries (all in Rupee(s)/liter):
India (Delhi) - 73.18
Pakistan - 53.70


Source: Zee News.

PATHETIC!

Little knowledge is worse than no knowledge - this is something the reporter who did the news on ZEE News about global fuel prices is clearly NOT aware of.

I would like to refer you to post# 159 in this thread - it contains a link to a much more comprehensive report on fuel prices globally. You will see we are not as badly off as some would like to think.
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Old 24th May 2012, 23:21   #245
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

While I do not support the high taxes on petroleum products in our country, I will take this information with a pinch of salt. News channels do have a habit of projecting the scenario which suits the public sentiment. The countries you mentioned does sell petrol at a lower rate than India but there are equal number of countries where Petrol is costlier. Globally, I believe we fall somewhere in the middle.
Here is a quick google search result for global prices:
Global Petrol Prices

Once again, neither I support the price hike or the high taxes. But if we have to debate, we have to debate with correct information.


Quote:
Originally Posted by vvijay View Post
Slightly OT but came across this in Facebook:

Indian fuel prices compared to other countries (all in Rupee(s)/liter):
India (Delhi) - 73.18
Pakistan - 53.70
Sri Lanka - 61.70
America - 53.70
Bangladesh - 52.42
Russia - 50.20
Saudi Arab - 6
Kuwait - 11
Iran - 17.40

All thanks to the (approx.) 40% (Rs. 29.25/liter) of tax applied on petrol, it costs Rs. 73.18 in India (Delhi) which would otherwise cost Rs. 43.93..!!

Source: Zee News.

PATHETIC!
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Old 25th May 2012, 00:07   #246
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Going little off topic.
Why do I feel like people who brought the original Swift,Ritz and dzire diesel models at their
introductory prices (and still having it) are the luckiest person on earth !
Their total cost of ownership should be very low.

Btw its right time for Fiat to push their diesel models. With some good schemes and offers, people won't mind going for ANY diesel car at the moment.
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Old 25th May 2012, 08:13   #247
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Part rollback of petrol hike likely by end-May!

Quote:
state-run oil marketers on Thursday indicated they could reduce the price by the month-end if the rupee and international oil prices held steady.
Quote:
Current trend indicates that prices can come down," IndianOil chairman R S Butola said
Part rollback of petrol hike likely by end-May - The Times of India
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Old 25th May 2012, 10:05   #248
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

There is a report suggesting Karnataka may consider withdrawing some of the Tax which may result in Rs 7 reduction in price. But this was in TOI and you need to take it with a inch of salt!
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Old 25th May 2012, 10:12   #249
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by Guna View Post
There is a report suggesting Karnataka may consider withdrawing some of the Tax which may result in Rs 7 reduction in price. But this was in TOI and you need to take it with a inch of salt!

Even if its a typo, PLEASE dont change it.
The sort of reporting from TOI may even require a "bilang" of salt.


On topic, I have a genuine concern now.
I just booked a Dzire ZXi about 2 weeks back for my dad.
(Please dont tell me to cancel it and get a diesel.Thats not an option.)

Can i expect some sort of options/discounts now due to the anticipated decline in petrol car sales?
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Old 25th May 2012, 10:21   #250
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by mayankk View Post

Even if its a typo, PLEASE dont change it.
The sort of reporting from TOI may even require a "bilang" of salt.
Yes it was a typo but I realized it makes more sense that way
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Old 25th May 2012, 10:36   #251
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Default

To take the edge off, lets know the advantages of this hike. I'll name a few:
. Lesser vehicles on the roads, meaning lesser travelling time.
. People will opt for car pooling. Better cohesiveness.
. Lesser pollution.
. Lesser opportunities for traffic police to get bribed.
. For short trips, people will prefer to walk / cycle, enjoying nature and a better lifestyle.

I will try to come up with some more to keep the mood upbeat ;-)
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Old 25th May 2012, 10:48   #252
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

One question that has been lingering in my mind with respect to rise in fuel price is this:

From HPCL 2010-11 Annual Report
Quote:
The turnover of HPCL increased by 22% to Rs 1,32,670 crores during the year. Profit after tax increased to Rs 1539 crores during 2010-11 from Rs 1301 crores in 2009-10 after absorbing an under recovery of Rs 1509 crores on the sales of sensitive petroleum products.
From Bharat Petroleum 2010-11 Annual Report
Quote:
During the year 2010-11, the BPCL group achieved a sales turnover of Rs 166,038.80 crores as compared to Rs 133,749.10 crores recorded in 2009-10. The Profit after Tax for the year stood at Rs 1,742.06 crores as against Rs 1,719.98 crores in 2009-10.
Both these companies have reported net loss for the first two quarters of 2011 and a profit for the third quarter ending in Dec 2011 (HPCL 3860.12, -2646.60, -2428.78 i.e., a net loss of Rs. 1215.26 crores for the first three quarters and BPCL 3139.60, -3229.27, -2561.89 i.e., a net loss of Rs. 2651.56 crores for the first three quarters). If you look at the financial results of the past 5 years, they have made a tidy amount of profit every year. They have also declared decent dividends every year.

(Annual Results Link for BPCL and Annual Results Link for HPCL)

A Quote from recent media report:
Quote:
According to at the back of the envelope calculations, OMCs have taken a hit of around Rs 1.5 lakh crore in financial year 2011-12 due to selling fuel products below cost.
The oil marketing companies provide such information and say that they are on the verge of being shut down because of the huge losses they are incurring. They have been repeating this every time they increased the fuel prices. If these companies are actually making the huge losses they are projecting, how come their balance sheets show a healthy net profit every year? Am I really missing something?

Last edited by pjbiju : 25th May 2012 at 11:12.
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Old 25th May 2012, 10:50   #253
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Quote:
Originally Posted by mayankk View Post

I just booked a Dzire ZXi about 2 weeks back for my dad.
Can i expect some sort of options/discounts now due to the anticipated decline in petrol car sales?
Just read the SIAM (Indian Automobile Manufacturers) has suggested Government to increase Diesel Prices & reduce Petrol Price Hike. This implies that Automobiles Manufacturers are also concerned that Petrol Car's sales will go down after recent Petrol proce hike bomb.

Thus in your case, try to tell the dealer that you are thinking of cancelling the booking & planning to go for a other Diesel Car (ilke Beat or Indica Vista) & try to get some discount & freebies from him. I am sure he will definitely offer you further discount & freebies.

Also read that companies will soon come out with discounts & schemes on Petrol Cars.

Thanks,
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Old 25th May 2012, 11:15   #254
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Is Karnataka govt. really removing 7 Rs. from their state tax quota? that is wonderful, if it becomes true. The NDA who is screaming hoarse about the hike and asking for a Bandh on 31st, should first check if all BJP-ruled states really care about the 'Aam aadmi' by reducing the state tax burden on petrol price. From what I know, state tax is around 14 Rs. a litre on petrol here in Bangalore.

Quote:
Originally Posted by mayankk View Post
I just booked a Dzire ZXi about 2 weeks back for my dad.
(Please dont tell me to cancel it and get a diesel.Thats not an option.)

Can i expect some sort of options/discounts now due to the anticipated decline in petrol car sales?
Change the X to D now. And if budget doesn't permit, change the Z also to V. Jokes apart, I think the dzire ZXi is available off the shelf now in less than a fortnight. I noticed this at my dealer when I went to check the status of my booked swift ZDi (not Dzire though).

Quote:
Originally Posted by Jignesh View Post
Thus in your case, try to tell the dealer that you are thinking of cancelling the booking & planning to go for a other Diesel Car (ilke Beat or Indica Vista) & try to get some discount & freebies from him. I am sure he will definitely offer you further discount & freebies.
Even if petrol touches 100 Rs. per litre, Swift and Freebies do not go together, ever. "Freebies on a Swift" and "Discount on a swift" - these phrases are oxymorons.


Quote:
Originally Posted by fast&furious View Post
Dear friend, think using your brain not with your heart.
...
3)Yes there are people who are willing to run their vehicles even on kerosene. But they don't even constitute 10% of the diesel car owners.
...
There are Swift diesels, Ritz diesels, Beat diesels, Figo diesels, Punto diesels etc etc. Now show me one guy who is willing to fill kerosene in a car like that. Most of the consumers are office goers and gentlemen who will never run to a lorry guy to get adulterated fuel just to save Rs.10.
I'm sorry but that is a little incorrect. You seem to suggest that the whole country is full of tie-and-suit wearing corporate office goers who drive Swift ZDis and Punto 90HPs around town. Forget for a minute about we "privileged" diesel users on team-bhp. All the Swift and Punto and Ritz owners (in fact all other private cars) in India hardly account for around 1% of total diesel consumed. Rural market consists of lots of MUVs, jeeps, etc. Taxis are significantly higher in number and consume more diesel, and the rest of the transportation sector is the main consumer, apart from a host of other sectors like power generation, agriculture, etc.

About black market - think about the massive taxi industry - there are millions of indicabs, indigos, Innovas, Xylos and what not. The average taxi driver hardly cares about fuel quality. All he is worried about is taking his customers from point A to point B. Period. Unlike us team-bhpians, he won't bother about spending 10 Rs. extra per litre for filling "Shell Super premium" diesel with extra additives to enhance engine performance. He will rather take diesel from a black market at 10Rs.cheaper if anything like that exists. Dual pricing will sooner or later create that black market, which is why it is so difficult to implement here. I respect your opinion and the intentions behind the plan you suggested, but practically it will open a big can of worms (forget about the metropolitan office goers in puntos and swifts when considering this).

Diesel is also used a lot by 5-star hotels and resorts to run massive generators. No reason why they should be given subsidy. How difficult is it for them to bribe their supplier into selling diesel to them at the subsidized rate?

Quote:
Even with the high price of petrol, I don't know pf any petrol car owner who is running around to get some adulterated fuel at a lower price.
Forget about adulterated fuel. I know scores of people who, when going out of town, will wait till they cross Bangalore city, and tank up at the next nearest fuel station outside Karnataka on the highway (where petrol costs 2-3 Rs. lesser per litre). I have done this too, and I'm sure you will do this too, if you were in our situation!

Many people who stay in Urban/Rural Border areas will fill up fuel at the rural bunk, rather than come into the city and fill. the point is - any money saved is welcome.

We won't find any petrol car owner running around now to get fuel at lower prices, because there is no dual pricing on petrol now. Bring dual pricing in, and the black market will start, at least by yellow board taxis. Ditto with diesel.

Quote:
As I said a Rs.250-350 increase in fuel bills is not gonna affect the majority of the people who own diesel vehicles and that definitely wont force them to approach some black market guy.

A pessimistic mind is the biggest hurdle a man has to jump if he is to succeed.
Private car owners will not worry if it is 250-300 Rs. increase in fuel bills, but like I said before, diesel is not consumed by just Puntos, Swifts and Fabias here. The entire transportation industry runs on Diesel (taxis, trucks, railway locomotives), diesel generators, tractors, pump sets in agricultural areas, boat engines, to name a few other users.

P.S - an over-optimistic jump in haste might make the man fall into the hurdle if he overlooks how high/deep the hurdle is.

Anyway, this is going OT, so its my last post on dual pricing since its the petrol thread. We can discuss on a more relevant thread some other time.

Last edited by KarthikK : 25th May 2012 at 11:26.
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Old 25th May 2012, 12:38   #255
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Some respite is on its way by the end of May. The prices may be slashed by 2 rupees according to media reports. But, I honestly feel that this 2 odd rupee buffer would have been already incorporated when the hike was made keeping in mind that there would be dharnas, protests, and outcry about the price hike, and then to fool the 'aam aadmi', they will decrease it by 2 rupees, so the eventual hike would be 5 Rs. Pathetic !!
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