Go Back   Team-BHP > BHP India > The Indian Car Scene


Reply
 
Thread Tools Search this Thread
Old 17th September 2011, 11:24   #2131
Newbie
 
Join Date: Feb 2011
Location: Pune
Posts: 10
Thanked: 2 Times
Angry Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

Quote:
Originally Posted by Captain Slow View Post
Just tanked up at shell, the manager at the outlet said shell prices will not be increased and they would try and maintain the current prices.
No, Shell have also had to follow suit. I filled up at their Hinjewadi Station in Pune which had the normal unleaded for Rs71.69 per litre and the Super unleaded for Rs73.41 per litre.

I really miss the times when petrol was affordable. At this rate, how am i goning to drive my Figo around town?
fullspeedahead is offline   Reply With Quote
Old 17th September 2011, 13:57   #2132
BHPian
 
Join Date: Sep 2006
Location: Bangalore
Posts: 595
Thanked: 17 Times
Default Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

Quote:
Originally Posted by pypkmsrikanth View Post
Looks like Shell is also taking their pound of flesh along with the Government.
Exactly. Shell has also increased prices along with other PSU oil companies. PSUs seem to be hiking petrol prices to minimize their losses incurred on diesel. (The government seems to be taking the easy way out and punishing petrol vehicle owners.)

Shell has no such problems, but it seems like they've decided that they won't go lower than PSU prices even if they can afford to.
CBlazer is offline   (1) Thanks Reply With Quote
Old 17th September 2011, 14:34   #2133
BHPian
 
Hayek's Avatar
 
Join Date: Jul 2011
Location: Bombay
Posts: 647
Thanked: 1,419 Times
Default

Some data here.

NYMEX gasoline futures closed at USD 2.78 per gallon yesterday. (viz. Rs. 35 per litre). But the average pump price of gasoline in New Jersey (which has the lowest gas taxes in the US at 32 cents a gallon) was USD 3.46 per gallon or Rs. 43.7 per litre. In short, even in the low tax US, at least Rs. 4 per litre is the tax on petrol, and Rs. 4.75 per litre is the net of tax difference between wholesale and retail prices. And that is when the US benefits (at least partly) from low cost WTI crude (USD 89 per bbl vs USD 112 per bbl for Brent). As I have mentioned on another thread, in India, most tax revenue is indirect taxes - typically, 5% customs, 12.5% CENVAT, 12.5% state VAT. So if we started with Rs. 35 per litre for wholesale petrol (may not be possible as Asian petrol prices may be higher), we would get to Rs. 53 per litre if petrol were taxed "normally". but petrol is not taxed normally by states. Maharashtra for example levies 26% State VAT + Rs 1 cess on petrol in Bombay, Thane and Poona. BMC levies 4% Octroi. So adjusting for that, we get to a price of Rs. 62.56 per litre. There still is an unexplained delta to the Bombay pump price of Rs. 71.5, but most of it is MH state taxes.

Clearly state governments are making a lot of money on petrol taxes. And there is a Rs. 8 delta somewhere else (through a combination of the difference between Asian and NYMEX wholesale prices, oil co margins and central taxes on petrol). But let's recognise that the oil PSUs (which are listed companies with minority shareholders), the central government and the state government are different entities. And if our state governments are greedily gouging petrol users, it's not fair to expect listed PSU oil marketing companies to take the hit.

Last edited by Hayek : 17th September 2011 at 14:41.
Hayek is offline   Reply With Quote
Old 17th September 2011, 14:51   #2134
Senior - BHPian
 
lurker's Avatar
 
Join Date: Jun 2006
Location: Tura
Posts: 1,228
Thanked: 481 Times
Default Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

Pvt oil marketing companies can't dare take on the govt. If so, they will be punished most viciously. Since pricing their product lesser than public sector oil marketing companies will be considered a slight and won't go unanswered.

Secondly, if we take current prevailing prices of petro products (entire basket), the profit margin seems to be 100%. Not less. So speaking of losses is a lot of bull.

Retail prices of

Petrol: Rs. 71/litre
Diesel: Rs 44/litre
ATF: Rs 58/litre
Naptha: Rs 8/litre
bitumen: Rs 37/litre

So per barrel of crude is giving govt (appx) a profit of Rs. 4500.
lurker is offline   Reply With Quote
Old 17th September 2011, 15:18   #2135
BHPian
 
ethanhunt123's Avatar
 
Join Date: Aug 2006
Location: Bangalore
Posts: 729
Thanked: 109 Times
Default Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

Asking Oil companies to run as a Not-For-Profit concern is not fair to all the public who have bought shares in them. These companies should be run just like the normal Shell's/Reliance's of the world with generating value for their shareholders in mind. What kills us is the heavy taxation on fuels in India. Probably a better way of taxing is flat tax of say 10/- central VAT and 10/- state tax but looking at the amount of money these taxes bring to government coffers, its hard to imagine. So is imagining a situation where Diesel prices are brought up (truckers will go up in arms or raise prices leading to heavy inflation). So we have no option but to bear the brunt of these price rises and evaluate diesel vs petrol when the time of next purchase comes :(
ethanhunt123 is offline   Reply With Quote
Old 17th September 2011, 15:38   #2136
BHPian
 
Vtecguy7166's Avatar
 
Join Date: Sep 2011
Location: Navi Mumbai
Posts: 85
Thanked: 12 Times
Default Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

X-tra Premium Petrol in Kharghar, Navi Mumbai is costing 73.2 rs.
If prices are going to shoot up like this, I am seriously planning for a small diesel hatch soon.
Vtecguy7166 is offline   Reply With Quote
Old 17th September 2011, 16:01   #2137
Senior - BHPian
 
Join Date: Dec 2006
Location: NH209
Posts: 1,605
Thanked: 681 Times
Default Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

This is a unintended incentive from the government to Diesel car makers.

PS: Chevy beat D is going to be my next car, i hope there are no waiting periods
ramzsys is offline   Reply With Quote
Old 18th September 2011, 23:06   #2138
Senior - BHPian
 
rajeev k's Avatar
 
Join Date: Jul 2009
Location: Emerging Metro
Posts: 3,281
Thanked: 1,654 Times
Default Re: Official tracker of fuel prices. EDIT : Petrol going UP again on 16th September,

Quote:
Originally Posted by rajeev k View Post
Saw this crowd at the wee hours today.
See the same reliance pump today. No crowd. Because state bovernment waived the sales tax on the price increase part ie., a reduction of 70p.
Attached Thumbnails
The Official Fuel Prices Thread-rel2.jpg  

rajeev k is offline   Reply With Quote
Old 24th September 2011, 10:16   #2139
BHPian
 
D'Artagnan's Avatar
 
Join Date: Aug 2011
Location: Bangalore
Posts: 261
Thanked: 126 Times
Lightbulb Why aren't fuel protests ever successful ?

Hello Team-BHPians. The situation, we all know: coughing up a huge amount of money to get from point A to point B. 15 Sept 2011 won't be forgotten in every family across India, wherein the government just proved themselves once again that they're not here to listen to the "aam admi"

My question is simple & straight forward
why aren't protests against fuel prices successful.
Why can't we rally up people and take to the streets to force the government listen to our pleas ?
Why is is that every time there is a price hike, the media displays it in a lambasted method and two days later the news is no more ?
Even when people have taken to the streets why can't our voices be heard ?
What do you think is the situation for the middle class layman, who earns a monthly salary ?
What power do we hold as citizens, are we just handcuffed into dictator rule or is democracy just an illusion for ulterior motives for money making, power hungry mongrels ?
These questions may come off as simple but there is something that needs to be dealt with here. Its not just the corrupt that's running India its we who are allowing them to.
D'Artagnan is offline   Reply With Quote
Old 26th September 2011, 13:11   #2140
Senior - BHPian
 
Join Date: Apr 2007
Location: Chennai
Posts: 1,045
Thanked: 140 Times
Default Re: Fuel Price Thread

Oil Prices have had a free fall over the last few days. As compared to the first week of September, Brent Crude is now trading at almost $10 lesser per barrel. But there is no talk of Government looking at reducing. The entire thing now is a sham.

Name:  chart.png
Views: 566
Size:  3.7 KB

Source: Oil Price Chart - Brent and Light
pypkmsrikanth is offline   Reply With Quote
Old 26th September 2011, 13:19   #2141
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,806
Thanked: 1,804 Times
Angry Re: Fuel Price Thread

Just did a tankful of Petrol for my Fiesta in Mumbai(Powai), costed me 71.92/- per litre. I prefer not to look at the cost counter for the fear of BP risisng as fast as the counter. Every tankfull is now going to cost 500/- more than what used to be a few months back. This is going to hit my travel expenses like anything. Have to start looking now for the private buses from Thane.
ghodlur is offline   Reply With Quote
Old 26th September 2011, 13:52   #2142
Senior - BHPian
 
lohithrao's Avatar
 
Join Date: Feb 2007
Location: Kudla/Mangaluru
Posts: 3,107
Thanked: 153 Times
Default Re: Fuel Price Thread

there was he and cry from all political sectors, which lasted couple of days now all gone back to sleep.
lohithrao is offline   Reply With Quote
Old 26th September 2011, 15:19   #2143
BHPian
 
Newpunter's Avatar
 
Join Date: May 2010
Location: Bangalore
Posts: 639
Thanked: 40 Times
Default Re: Fuel Price Thread

Found this on Facebook. How funny is it today?

Newpunter is offline   (1) Thanks Reply With Quote
Old 26th September 2011, 15:27   #2144
Max
BHPian
 
Join Date: Jun 2004
Location: Thane
Posts: 534
Thanked: 85 Times
Default Re: Fuel Price Thread

Quote:
Originally Posted by pypkmsrikanth View Post
Oil Prices have had a free fall over the last few days. As compared to the first week of September, Brent Crude is now trading at almost $10 lesser per barrel. But there is no talk of Government looking at reducing. The entire thing now is a sham.

Attachment 615202

Source: Oil Price Chart - Brent and Light
its may be because Indian rupees has fallen from Rs.45 to Rs.50 in last 15 days which is again making crude oil expensive to buy.
Max is offline   Reply With Quote
Old 26th September 2011, 15:50   #2145
Senior - BHPian
 
Join Date: Apr 2007
Location: Chennai
Posts: 1,045
Thanked: 140 Times
Default Re: Fuel Price Thread

Quote:
Originally Posted by Max View Post
its may be because Indian rupees has fallen from Rs.45 to Rs.50 in last 15 days which is again making crude oil expensive to buy.
After petrol price rise HPCL, BPCL & IOC pare early gains - Economic Times

Quoted in the article "Petrol price of Rs 63.70 per litre corresponds to crude oil price of about $103 per barrel. The Brent crude, which is trading around $113 while the US crude is hovering around $90 mark along with depreciation of rupee to 48 rupees per dollar, prompted OMCs to increase prices."


Today the Dollar Rate is Rs.49.55 while the Crude Oil rates have gone down to $103. The cost per barrel in rupee terms is lower than what was being paid a fortnight ago.

May be most of us have forgotten the hike already.
pypkmsrikanth is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
BMW to drop prices due to increased localisation. EDIT: New prices announced Aditya The Indian Car Scene 38 10th July 2015 21:19
Have official pioneer HU prices fallen? greenhorn In-Car Entertainment 3 11th January 2010 01:36
Hyundai Cut prices- New detailed prices. harry10 The Indian Car Scene 5 9th December 2008 00:45
Are these good prices for Tata\Fiat vehicles? Corporate Offer Prices sahakar The Indian Car Scene 15 8th July 2008 23:03


All times are GMT +5.5. The time now is 16:10.

Copyright 2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks