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Old 7th November 2015, 13:48   #5056
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Default Re: The Official Fuel Prices Thread

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The government tonight hiked excise duty on petrol by Rs 1.60 per litre and the same on diesel by 40 paisa a litre to mop up additional revenue to meet budgetary targets.

After including additional and special excise duty, the total levy on petrol will be Rs 19.06 per litre as against present levy of Rs 17.46.

After including special excise duty, total incidence of excise duty on diesel will be Rs 10.66 per litre as against present Rs 10.26.
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Last edited by sdp1975 : 7th November 2015 at 13:52.
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Old 7th November 2015, 14:05   #5057
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Default Re: The Official Fuel Prices Thread

I guess this hikes fuels by the same amount in most states, since the VAT is already effectively flat rat. Now what is the excuse - Bihar Elections are over, so might raise some moolah!
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Old 7th November 2015, 15:16   #5058
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Default Re: The Official Fuel Prices Thread

It has started to hurt now. What for these hikes? The taxes constitute almost 60% of the total price that we pay for each liter.

Yesterday only, a swatchch bharat cess of 0.5% was notified, effective November 15, 2015 on Service tax.

Where is this going?
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Old 7th November 2015, 18:20   #5059
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sohu9 View Post
I highly doubt that they are trying to deter diesels.

I think this is due to the ongoing elections in Bihar where there is a close contest. They don't want to give another point to the talking-heads. Diesel price rise does not directly impact most folks who are using 2 wheelers or petrol cars. Whereas petrol price increase will have a direct negative impact on those users.
This hike, which is totally unjustifiable, proves the point I made in the above post. The companies weren't allowed to raise petrol rates due to the elections. Immediately after that, the government wants a piece off the common man's wallet .
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Old 8th November 2015, 06:28   #5060
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Default Re: The Official Fuel Prices Thread

Just wait for a high fuel cess in Delhi courtesy either the NGT or AAP. How responsive is our system is obvious, they started levying the Pollution Tax in Delhi right at the Deepawali rush time! Any change needs some settling time, but this must clearly take the cake. Our system seems to be losing touch with reality. They decreed that field burning was banned in the NCR and surrounding area. Farmers in Punjab decided to continue with impunity. Sounds more and more like King Canute ordering the waves to go back.

Last edited by sgiitk : 8th November 2015 at 06:31.
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Old 8th November 2015, 07:55   #5061
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Default Re: The Official Fuel Prices Thread

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Originally Posted by deepfusion View Post
It has started to hurt now. What for these hikes? The taxes constitute almost 60% of the total price that we pay for each liter.

Yesterday only, a swatchch bharat cess of 0.5% was notified, effective November 15, 2015 on Service tax.

Where is this going?
I am sure, states will follow suit now as this has happened across many states in the past.
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Old 9th November 2015, 18:32   #5062
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Default Re: The Official Fuel Prices Thread

The Official Fuel Prices Thread-screenshot_20151109182301.png

Petrol price Delhi - Rs 60.70

Cost to produce - Rs 24.75
Producer margin - Rs 2.49 [HPCL, BPCL etc...]
Central Govt Excise - Rs 19.06
State Govt VAT - Rs 12.14
Dealer Margin - Rs 2.26 [Petrol pump]


Diesel price in Delhi - Rs 45.93

Cost to produce - Rs 24.86
Producer margin - Rs 2.19 [HPCL, BPCL etc...]
Central Govt Excise - Rs 10.66
State Govt VAT - Rs 6.79
Dealer Margin - Rs 1.43 [Petrol pump]

Excise duty on the fuels is likely to yield an additional revenue of about Rs 3,200 crore to the government during the rest of the current fiscal.

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On a much more serious note
And with all these hikes we still don't have sustainable solutions for reducing our import bills and our country's energy security needs.
This is when global oil prices are all time low, so it for sure that common man will be prone to much more price hikes as the oil prices swings up!
ET article link

Last edited by GTO : 10th November 2015 at 11:35. Reason: No political discussions please
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Old 9th November 2015, 21:22   #5063
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I remember reading that when the new govt came in they realised that the accumulated losses of critical companies across sectors was about 8 lakh crore or about USD 121 Billion.
If true then this will b paid of by the citizens one way or the other.
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Old 10th November 2015, 10:13   #5064
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Default Re: The Official Fuel Prices Thread

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Originally Posted by Cowardly Lion View Post
I remember reading that when the new govt came in they realised that the accumulated losses of critical companies across sectors was about 8 lakh crore or about USD 121 Billion.
If true then this will b paid of by the citizens one way or the other.
Naturally. They cannot just print currency else the inflation will go up and we will still have to pay - more indirectly no doubt. So we are obliged to pay for the sins of our rulers.
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Old 10th November 2015, 10:42   #5065
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Default Re: The Official Fuel Prices Thread

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Originally Posted by Cowardly Lion View Post
I remember reading that when the new govt came in they realised that the accumulated losses of critical companies across sectors was about 8 lakh crore or about USD 121 Billion.
If true then this will b paid of by the citizens one way or the other.
I don't understand why we have to pay for losses of companies like Air India, BSNL and some of the dud nationalised banks. These companies may have had a role to play 25 years back, but they are not serving any national purpose today, and should be wound down. There has to be a strategic withdrawal of the government from these sectors otherwise the taxpayer bill to sustain them will keep growing. This will be at the cost of more important social needs like healthcare and education, where government spending is stagnant or declining. The vision and courage required for nation building is sadly lacking.
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Old 13th November 2015, 13:37   #5066
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Default Re: The Official Fuel Prices Thread

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Originally Posted by S_U_N View Post
all citizens paying full tax for the last 50 years, the treasury would have surplus money.

Since that is not the case, taxing the oil consumption is the simplest way to get some money back in the Govt. coffers.
As a taxpayer, I like tax on oil better that income tax. Tax on Oil is shared by everyone unlike the 4% of the population that pays IT having to shoulder the whole nation's financial responsibility.
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Old 14th November 2015, 11:51   #5067
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Default Re: The Official Fuel Prices Thread

I expect with Brent down to even the sub-$45 band, and the exchange rate holding at the ₹66 level, some decrease in this round, due tomorrow or early next week.
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Old 15th November 2015, 18:28   #5068
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Default Re: The Official Fuel Prices Thread

Diesel prices raised by 87p and Petrol by 36p from tonight.
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Old 15th November 2015, 19:21   #5069
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Default Re: The Official Fuel Prices Thread

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Originally Posted by hyper-VTEC View Post
Diesel prices raised by 87p and Petrol by 36p from tonight.
News article at this link
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Old 15th November 2015, 23:18   #5070
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There is a flat instant 10% discount on Petrol, Diesel and oils at Shell outlets.
The offer is valid on American Express credit cards.
The offer is valid till end of November.
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