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


Reply
 
Thread Tools Search this Thread
Old 18th December 2014, 10:45   #4411
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,639
Thanked: 3,056 Times
Infractions: 0/1 (4)
Default

It seems that analysts expect a $50 floor on WTI which should lead to a $53-54 Brent. The rupee may drop to $1=₹65 in three months!

Quote:
Originally Posted by akshay4587 View Post
Ever since the reduction has started; i am now saving about 750 bucks on a tankful; it can give me a stomach full of food at a decent restaurant
Yes, but I was talking in the context of a ₹2 drop. Any single drop does not save you even ₹100 on a tankful!

Last edited by Aditya : 24th December 2014 at 18:36. Reason: Merging back to back posts
sgiitk is offline   Reply With Quote
Old 18th December 2014, 11:16   #4412
Senior - BHPian
 
lurker's Avatar
 
Join Date: Jun 2006
Location: Tura
Posts: 1,228
Thanked: 481 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by sgiitk View Post
It seems that analysts expect a $50 floor on WTI which should lead to a $53-54 Brent. The rupee may drop to $1=₹65 in three months!
how convenient that the rupee drops so conveniently whenever international oil prices drop. One would normally presume that due to lesser oil burden the rupee would actually increase. But no sir, not in the banana republic that goes by name of RKI (Reliance ka India). Usually excuse given is that foreign funds have dumped investment and withdrawn their dollars.

Logically one would think why that would happen, if foreign funds know that dollar devaluation is imminent and they should increase stake in rupees, so that they get more dollars. But not so in this banana republic and it's banana stock market.

This leads me to believe that so called FII is actually Indian money and wealth of Indian corporates and other benamis of companies like Reliance who in cahoots with central bankers (heard that one central banker was paralysed neck down since fuel prices started falling) who conveniently do not intervene and the smallest of withdrawals cause rupee to collapse conveniently.

And all this is just a shady scam being perpetrated by Indian karporates and a few influential bureaucrats, bankers and politicians who have been accounted for. Nothing else explains this scam.
lurker is offline   (1) Thanks Reply With Quote
Old 18th December 2014, 11:26   #4413
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,639
Thanked: 3,056 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

I think the drop in the ₹ is in anticipation of a rate cut, and also a possible rate hike by the US. Reliance is powerful but not that powerful. If RIL was not there you may not be getting BS-IV diesel from the sarkari OMCs.
sgiitk is offline   Reply With Quote
Old 18th December 2014, 11:48   #4414
NPV
Distinguished - BHPian
 
NPV's Avatar
 
Join Date: Oct 2009
Location: Namma Bengaluru
Posts: 4,062
Thanked: 3,367 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by NPV View Post
Filled the M800 today (Bangalore), petrol was Rs.69.40 a litre .
Quote:
Originally Posted by audioholic View Post
Where? I paid 67.21 today in a rather new BP bunk near my house.
Thanks @audioholic, that was a typo
Checked the bill again, I paid 67.46 at the HP COCO outlet nearby
NPV is offline   Reply With Quote
Old 20th December 2014, 18:08   #4415
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,639
Thanked: 3,056 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

Seems that Rajasthan and MP have or are jacking up VAT on Fuel. So there is another justification for Excise hike, else more states would have done so. I hope they do not taker cues from these states.
sgiitk is offline   Reply With Quote
Old 21st December 2014, 08:43   #4416
BHPian
 
Join Date: Feb 2014
Location: Columbia City
Posts: 100
Thanked: 47 Times
Default Re: The Official Fuel Prices Thread

The fuel in US is right now at $2.00 a gallon, which is almost rupees 35 a liter. Hope it gives an additional perspective to bhpians in India.
bhardwhu is offline   (2) Thanks Reply With Quote
Old 21st December 2014, 10:53   #4417
BHPian
 
commonman's Avatar
 
Join Date: Mar 2014
Location: Bangalore
Posts: 164
Thanked: 119 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by bhardwhu View Post
The fuel in US is right now at $2.00 a gallon, which is almost rupees 35 a liter. Hope it gives an additional perspective to bhpians in India.
That's because its deregulated and unlike in India which have a formula for
deregulation.Factor of dreg=function of (reg+stax+duty+vat+x) ,which is very difficult for people like me to understand.
commonman is offline   (1) Thanks Reply With Quote
Old 24th December 2014, 13:53   #4418
BHPian
 
glenmz's Avatar
 
Join Date: Aug 2014
Location: Bangalore
Posts: 280
Thanked: 182 Times
Default Re: The Official Fuel Prices Thread

Diesel at Indianoil was 54.88 a liter. Filled up yesterday.
glenmz is offline   Reply With Quote
Old 24th December 2014, 14:49   #4419
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,639
Thanked: 3,056 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

@commonman; Taxation in the US is minimal. Only the oil producers Gulf, UAE, etc. may be cheaper still.
sgiitk is offline   Reply With Quote
Old 24th December 2014, 15:00   #4420
BHPian
 
Ajitsingh208's Avatar
 
Join Date: Aug 2012
Location: Pune
Posts: 201
Thanked: 99 Times
Default Re: The Official Fuel Prices Thread

Goa has reveresed the decision to abolish VAT on Petrol, now a VAT of 5% will be applied. petrol cost would be slightly more than Diesel now.
Ajitsingh208 is offline   Reply With Quote
Old 24th December 2014, 15:37   #4421
Senior - BHPian
 
rajshenoy's Avatar
 
Join Date: Apr 2006
Location: bangalore
Posts: 1,750
Thanked: 560 Times
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Ajitsingh208 View Post
Goa has reveresed the decision to abolish VAT on Petrol, now a VAT of 5% will be applied. petrol cost would be slightly more than Diesel now.
Goa govt is really lucky, they scored lot of brownie points by abolishing VAT on petrol, price was cheaper than diesel and now when prices dropped, silently they re-introduced

Will they remove that tax on out of state vehicles now ?
rajshenoy is offline   Reply With Quote
Old 27th December 2014, 18:11   #4422
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,639
Thanked: 3,056 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

Hurt by a revenue shortfall UP intends to hike VAT on both Petrol & Diesel. This is notwithstanding the fact that revenue deficit is across the board. Result of over optimistic projections and poor collections.
sgiitk is offline   Reply With Quote
Old 27th December 2014, 18:43   #4423
Senior - BHPian
 
sdp1975's Avatar
 
Join Date: Aug 2009
Location: Bangalore
Posts: 1,504
Thanked: 810 Times
Default Re: The Official Fuel Prices Thread

MP , Rajasthan , Goa and Odisha have hiked VAT on fuel , other states are sure to follow soon. They were not reducing VAT when fuel prices were increasing , were they ? Then why increase it now ? Have any state corporations reduced bus fares as well with fall in diesel prices ?

This is really on the lines of the move by the Central Govt which hiked the excise rate twice when fuel prices were falling. The states are following similar tactics now. So much for "deregulation" and open market economics.
sdp1975 is online now   Reply With Quote
Old 27th December 2014, 20:39   #4424
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,639
Thanked: 3,056 Times
Infractions: 0/1 (4)
Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by sdp1975 View Post
1. MP , Rajasthan , Goa and Odisha have hiked VAT on fuel , other states are sure to follow soon. They were not reducing VAT when fuel prices were increasing , were they ? Then why increase it now ? Have any state corporations reduced bus fares as well with fall in diesel prices ?

2. This is really on the lines of the move by the Central Govt which hiked the excise rate twice when fuel prices were falling. The states are following similar tactics now. So much for "deregulation" and open market economics.
1. At some point VAT went from ad valorem to fixed in some states. Agree bus fares can be reduced, btu i do not know of any STC making a profit! The only people who may have a legitimate reason for the increase are the Goans who went down to 0.5%.

2. Excise was reduced in the days of $100+ Brent, so there may be a logic to restore the tax, be it as a buffer!!
sgiitk is offline   Reply With Quote
Old 30th December 2014, 22:35   #4425
Senior - BHPian
 
narayan's Avatar
 
Join Date: Aug 2006
Location: chennai
Posts: 2,588
Thanked: 800 Times
Default Re: The Official Fuel Prices Thread

I'm seeing a news item right now in a news channel that petrol and diesel prices to be hiked by upto Rs2 from Jan 1 ?
narayan 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 19:59.

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