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


Reply
 
Thread Tools Search this Thread
Old 12th December 2014, 23:10   #4366
Senior - BHPian
 
longhorn's Avatar
 
Join Date: Nov 2009
Location: Chennai
Posts: 1,136
Thanked: 258 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by AshBabu View Post
I read in news today that Oil prices and tobacco prices will come under GST and almost agreement has been reached between Center and States.

Will this mean that uniform tax will be levied on petrol/diesel throughout the country? No extra taxes will be levied by the states?
No. It means that the central govt will fix the centre's share and the state govt will add whatever it wants to that to get its share. Fuel and tobacco are cash cows for both the centre and the state. States are not willing to let go of it just yet.

Last edited by longhorn : 12th December 2014 at 23:12.
longhorn is offline   (1) Thanks Reply With Quote
Old 13th December 2014, 00:13   #4367
BHPian
 
selvagp's Avatar
 
Join Date: Dec 2013
Location: MAS - Chennai
Posts: 93
Thanked: 50 Times
Default

Quote:
Originally Posted by gomzi View Post
I think the comparison of retail petrol price vs crude prices in India in previous years, while interesting, isn't relevant as the retail fuel was subsidized back then.

May I ask, what would have been the petrol price in 2009 if they weren't subsidized then.
selvagp is offline   Reply With Quote
Old 13th December 2014, 09:35   #4368
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,645
Thanked: 3,060 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by selvagp View Post
May I ask, what would have been the petrol price in 2009 if they weren't subsidized then.
Remember the exchange rate was far more favourable then. Also, I feel the tax structure may also have changed.
sgiitk is offline   Reply With Quote
Old 13th December 2014, 09:49   #4369
BHPian
 
gomzi's Avatar
 
Join Date: Mar 2004
Location: SF Bay Area
Posts: 784
Thanked: 125 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by selvagp View Post
May I ask, what would have been the petrol price in 2009 if they weren't subsidized then.
Quote:
Originally Posted by sgiitk View Post
Remember the exchange rate was far more favourable then. Also, I feel the tax structure may also have changed.
While I do think it would be interesting to do this calculation it might be a exercise in futility as too many things have changed between 2009 and now regarding the govt's subsidy %, exchange rates, global oil prices, tax structure?, inflation? et al.

Main thing of concern is whether the current govt keeps on increasing the excise and 'cushioning' the public from the steep fuel price drop further. Sorry for the
gomzi is offline   Reply With Quote
Old 13th December 2014, 18:26   #4370
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,645
Thanked: 3,060 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by gomzi View Post
Main thing of concern is whether the current govt keeps on increasing the excise and 'cushioning' the public from the steep fuel price drop further. Sorry for the
The FM said so, mny states were hiking up the VAT and taking most of the price drop away from us. This apparently encouraged the excise hike!
sgiitk is offline   Reply With Quote
Old 14th December 2014, 08:55   #4371
BHPian
 
Join Date: May 2007
Location: Mumbai
Posts: 436
Thanked: 98 Times
Default Re: The Official Fuel Prices Thread

In the last few days many of the News agencies have started reporting that Govt has not cut the fuel prices as per the International Market. Will like to see if they announce any reduction today. The media has even reported that De-regulation is only on paper and is a lip service. I hope Govt takes the cues and start behaving in the right manner.
saurabhkum is offline   Reply With Quote
Old 14th December 2014, 10:28   #4372
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,645
Thanked: 3,060 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by saurabhkum View Post
In the last few days many of the News agencies have started reporting that Govt has not cut the fuel prices as per the International Market.
the price adjustment is done every fortnight so the 15th is the due date. Today being Sunday it may be delayed a day or so.
sgiitk is offline   Reply With Quote
Old 14th December 2014, 10:43   #4373
Senior - BHPian
 
lurker's Avatar
 
Join Date: Jun 2006
Location: Tura
Posts: 1,228
Thanked: 481 Times
Default Re: The Official Fuel Prices Thread

Yes, the massive Rs. 1 cut is eagerly awaited.
lurker is offline   (5) Thanks Reply With Quote
Old 14th December 2014, 15:15   #4374
BHPian
 
Join Date: Jul 2008
Location: Bangalore
Posts: 487
Thanked: 935 Times
Default Re: The Official Fuel Prices Thread

Consider the last 3 months (12-Sept-2014 to 12-Dec-2014)

Petrol is deregulated over this entire period. So no conflicts there.

BRENT crude prices have fallen from 97.96$ to 61.85$
USD to INR has inched up from 60.655 to 62.525
Petrol Prices in Bangalore has gone down from 75.13Rs to 69.45Rs.

If things were "TRULY" deregulated, we would be paying 48.898 Rs for a liter of petrol. Acche din, really?

Sources
http://www.investing.com/commodities...istorical-data
http://www.investing.com/currencies/...istorical-data
http://www.mypetrolprice.com/6/Petro...e-in-Bengaluru
sachinayak is offline   (3) Thanks Reply With Quote
Old 14th December 2014, 15:46   #4375
Senior - BHPian
 
Join Date: Dec 2006
Location: NH209
Posts: 1,605
Thanked: 681 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by sachinayak View Post
If things were "TRULY" deregulated, we would be paying 48.898 Rs for a liter of petrol. Acche din, really?
Acche din, particularly for this overpopulous country is a comfortable/dependable public transportation system. Not the surge of private vehicles running on imported fuel.
ramzsys is offline   (8) Thanks Reply With Quote
Old 14th December 2014, 16:56   #4376
BHPian
 
Join Date: Jul 2008
Location: Bangalore
Posts: 487
Thanked: 935 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by ramzsys View Post
Acche din, particularly for this overpopulous country is a comfortable/dependable public transportation system. Not the surge of private vehicles running on imported fuel.
Absolutely, but then if fuel prices would have been 15Rs lower than what they are currently (and what it should ideally be, if not lower) then it would mean

1. Cheaper transportation (public transportation included)
2. Lower inflation
3. Lower interest rates (resulting from 2)
4. Higher growth (resulting from 3)

Easier said than done surely, but in the current scenario of falling crude prices, not passing on the benefit to the end user is criminal. I do not expect the petrol price to fall 21 Rs, but if govt can lap up Rs 5-10 and reduce by 10-15 Rs, isnt that what one would expect specially in a "deregulated" environment.
sachinayak is offline   (1) Thanks Reply With Quote
Old 15th December 2014, 09:43   #4377
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,645
Thanked: 3,060 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

All is fine, but also take into account the refining and fixed costs, and the estimated drop will not be that steep. I will suggest make the whole country BSIV and up the Diesel BSIV to EuroIV. Force them to invest some money in Refinery upgradation.
sgiitk is offline   (2) Thanks Reply With Quote
Old 15th December 2014, 17:21   #4378
BHPian
 
Join Date: May 2007
Location: Mumbai
Posts: 436
Thanked: 98 Times
Default Re: The Official Fuel Prices Thread

No news on price cut yet, looks like this time also there is not going to be any major changes. At the same time crude has touched the lowest level since June 2009. Opec in another statement states they are not worried even if crude touches 40$. I'm eagerly waiting to see what is the cut which happens today.
saurabhkum is offline   Reply With Quote
Old 15th December 2014, 17:27   #4379
Senior - BHPian
 
rajshenoy's Avatar
 
Join Date: Apr 2006
Location: bangalore
Posts: 1,751
Thanked: 560 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by saurabhkum View Post
No news on price cut yet, looks like this time also there is not going to be any major changes. At the same time crude has touched the lowest level since June 2009. Opec in another statement states they are not worried even if crude touches 40$. I'm eagerly waiting to see what is the cut which happens today.
Govt will silently hike the taxes. If not central, it will be the state govt for sure.
Other worrying part is rupee is at all time low !!
High oil imports were always pulling our economy down, irrespective of the oil prices now, that has not changed !! infact our exports will take a hit due to low global demand which only means that Rupee will fall further ??
rajshenoy is offline   Reply With Quote
Old 15th December 2014, 19:46   #4380
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,645
Thanked: 3,060 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

PTI reports a Rs.2/- per litre cut in both Petrol and Diesel.
sgiitk 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 07:45.

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