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Old 23rd May 2012, 19:20   #31
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Aaaarrrrrgggghhhh!!! Ten percent for us petrol users and what about diesel?
Help! Where is that compressed air car?
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Old 23rd May 2012, 19:21   #32
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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 pratheekkunder View Post
But seriously, my thinking is that if you buy a vehicle you should be able to pay for its fuel.Govt shouldn't pay for it.

Very few country follow this subsidized fuel policy.
Not an economics student but totally agree with the last 2 sentences. Sadly, we are so used to "cheap" petrol that we hardly understand that it is subsidised and many countries pay a lot more for it.
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Old 23rd May 2012, 19:22   #33
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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 sonic_boom View Post
I'm very sure diesel is next. Enjoy while it lasts LDi/VDi owners
Not a chance. As it has been said many times on the forum before, increasing diesel prices is also seen as an increase in prices for everything that is transported to your city. So expect prices of vegetables, meat, food grains, et al to go up if diesel sees such a price hike. At the same time, a dual pricing policy won't work in a corrupt country like ours.

Quote:
Originally Posted by benbsb29 View Post
I am sure other fuels too will get their share of the hike soon.
Yes but not as much as what we saw today. It could be Rs. 2 or 3 at the most. But this is just my guess. I hadn't expected this price rise to be the biggest in its history.
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Old 23rd May 2012, 19:26   #34
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After agonising and deliberating for almost 3 months and almost booking a petrol car, finally bought a diesel figo 3 days ago. Was wondering whether the premium i paid for diesel was worth it, especially with all the heavy discounts on petrol. This news has put all those doubts to rest. Diesel's the way to go!
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Old 23rd May 2012, 19:26   #35
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

It's time I started drilling my front lawn, searching for fuel deposits!!

I own a petrol Palio and an automatic i10, but it looks like my MJD Linea is going to be the popular one in our household from now on.

The way things are going, petrol cars are going to end up as exhibits in museums across the country pretty soon....and that would be long before we actually use up the world's fuel resources.
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Old 23rd May 2012, 19:28   #36
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

I feel so lucky after trading my BMW 320i (mid 2007 model, generation 4) in exchange for a 320d (2011 model, generation).
My BMW 320i did 5 kmpl. (congested city driving) and 11 kmpl. (on the national highways).
My BMW 320d does 9 kmpl. (congested city driving) and 13 kmpl. (on the national highways).
The petrol hike does not effect me now.
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Old 23rd May 2012, 19:29   #37
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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 moralfibre View Post
Yes but not as much as what we saw today. It could be Rs. 2 or 3 at the most. But this is just my guess. I hadn't expected this price rise to be the biggest in its history.
The rupee too has fallen to previously unseen levels, so looks like there is a lot more we are yet to see.
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Old 23rd May 2012, 19:31   #38
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Car onwer's will be surely hit, no discussion there. This will have a direct impact on rented transportation too, Autorikshaw. Not all run on Gas and Diesel. There will need to be an immediate price revision set by the govt, else you are at the mercy of the already notorious autowallas, for demanding an arbitrary hike on top of the meters (as if they follows meters now!).

But the biggest hit will be for the 2 wheelers (remember they do not have LDI/VDI options). A 10% raise is a clear hit on their monthly budget. The reason why many drive a 2 wheeler is they can't afford anything more. The run on tight budget, a vast % of tax our fellow citizens use 2 wheelers as their daily bread earning means. This is a sudden impact. Its time the taxes are reworked on fuel. The burden on the tax should be shifted to more luxury items where marginal increase will not affect the market.
Its really high time an energy policy with a long term view is implemented!

For every barrel of crude refined, more petrol than diesel is obtained (even with dark crude). So the more diesel consumption this sort of policy is pushing the market towards, more crude needs to be imported or refined, yielding more petrol than demand, what is this done? Sold out of the country, not likely, highly dangerous to transport huge quantities of refined hydrocarbon. With lesser petrol demand the demand and supply ratio will fall further and we will end up in a situation where in order to meet the Diesel demand you get more petrol than demand, then the only way to sell it would be increase the demand, meaning drop prices. With Diesel costing close to 1/2 of petrol in Bangalore I do not see this situation to be just academic.

Petrol cars might attract newer discounts, but existing owner also need to be shielded from this price raise. There needs to be a mechanism to reduce even indirectly the total cost of living. A temporary tax holiday or a few basis points until the rupee slides up! Why not? If the rupee is weak against the $, then there is more export oriented taxes that can offset (the math can be worked out, there are babus who can be woken up, and made to work) a tax holiday. Something needs to be done, just passing on the burden without a comprehensive energy policy is not a sign of good politics (I think good politics died in August 1947!).

Last edited by man_and_machine : 23rd May 2012 at 19:59. Reason: Added more text
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Old 23rd May 2012, 19:31   #39
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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 pratheekkunder View Post
The reason they are not raising price for subsidized fuel(Diesel,Cooking Gas and Kerosene) is because the GOVT dont want the inflation to shoot up drastically.Petrol is considered as a luxury item in this Country, and thats its been increased so much.

But seriously, my thinking is that if you buy a vehicle you should be able to pay for its fuel.Govt shouldn't pay for it.

Very few country follow this subsidized fuel policy.
I don't mean to argue but what about this article:
For petrol, Indians shell out the most in the world - Times Of India
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Old 23rd May 2012, 19:33   #40
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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 madnish30 View Post
That is next to impossible! Your only hope is Mamta Banerjee
Mamta is now only good for a sound bite or two and that too in her own constituency of WB where Congress has no existance....so much for that.

Quote:
Originally Posted by headbanger View Post
"Committ" is not something one can associate with Indian Politics. As far as roll-back is concerned, at max govt. will take Rs2.5 away from this hike and make it a partial roll-back. And the junta would have a sigh of relief that hike was limited to Rs 5 only.

Have 3 petrol cars and there is no way out of this situation. Even if I sell off 1 car, huge depreciation will hit me

Time to be a diesel-head now!!!
I again reiterate that the Diesel party is going to end soon, very soon. Probably post the Presidential elections.

Quote:
Originally Posted by WhiteHorse View Post
This is absolutely crazy! 7.50 is the steepest petrol price hike. I think this will be the end of UPA :|
The 7.50 hike was the max that petrol companies have been clamoring for. Since the complete amount has been granted, I'm sure that there is a "roll back" component in there to make some quarters look powerful, when they ask for it. Two steps forward and then 1 backward.

Quote:
Originally Posted by naveenroy View Post
Not an economics student but totally agree with the last 2 sentences. Sadly, we are so used to "cheap" petrol that we hardly understand that it is subsidised and many countries pay a lot more for it.
"Petrol Subsidy" again. I think that this issue about the notional loss that the govt suffers on account of petrol has been discussed ad infinitum and the same does not merit any mention here again.

Just installed CNG in my swift and loving every minute of it. I can't begin to understand why more cars are not offered with CNG option in there?
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Old 23rd May 2012, 19:33   #41
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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 benbsb29 View Post
The rupee too has fallen to previously unseen levels, so looks like there is a lot more we are yet to see.
Whenever crude price goes down rupee also falls! Weird.

Crude price is hovering $90 currently.
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Old 23rd May 2012, 19:35   #42
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Loss for words, really.

Nano fuel cost will be more than its EMI per month. Used petrol car prices will tank. Good time to buy if your running isn't much. Honda India? STRESS!

On a lighter note:

- ICICI Bank abandons the car loan market. Now, they will only market petrol loans!

- Manufacturers abandon out-of-town roadside assistance. Car owners were using the towing facility to get their cars back home free.

My best friend just called to thank me for making him switch from the Laura vRS to the Jetta TDI.
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Old 23rd May 2012, 19:38   #43
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Mamta is also not a factor anymore. As it happens always She has slammed the govt but they are not taking back the Support to govt . So the Small consolidation that govt may reduce it by 2.50 Rs is also gone.

Can;t we all petrol car owners make a association and show ourself as a vote bank to these political monies. That;s the only way we can make them heard Else no chances. for votes ,these politicians will do any thing in this world .
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Old 23rd May 2012, 19:38   #44
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

This is abosulte killer. Wonder how would the lower income group ppl survive. God..mercy pls.
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Old 23rd May 2012, 19:41   #45
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Default re: Petrol price hiked by Rs. 7.50. EDIT 1st March 2013 : Up by Rs. 1.4

Out of Rs 7.50 rupee hike, government will get Rs 5 per in the form of taxes to spend on foreign travels and babus - on Twitter
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