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Old 5th December 2015, 16:10   #5086
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Default Re: The Official Fuel Prices Thread

What is also happening is that States got used to a high fuel price regime, and when prices started being cut they did not sustain the corresponding VAT cuts. Many defined a floor VAT and said that any price cut will not reflect in a corresponding VAT cut. This further prompted the centre to hike excise as the prices dropped, since we were being deprived of the full benefit by the states.

I think the advisory panel on GST would like Fuel and Alc&&l to be included in the list, and not kept out. States do not like it, so a grace period was allowed. There may be three rates of GST - Low for essentials, Standard for most items, and High for the luxury and similar stuff. The Standard appears to be settling at 16-18%.
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Old 15th December 2015, 17:50   #5087
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Default Re: The Official Fuel Prices Thread

The crude prices have dropped further during this fortnight, but haven't seen any update on cuts yet, except some speculations like these.
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Old 15th December 2015, 17:52   #5088
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another fraud being perpetrated on consumers. If India has to sustain such high fuel prices, it is like it is a failed state with no control over expenditure and everything being subsidized by fuel monies.
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Old 15th December 2015, 17:53   #5089
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by deepv View Post
The crude prices have dropped further during this fortnight, but haven't seen any update on cuts yet, except some speculations like these.
Hopefully there should be a significant cut today
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Old 15th December 2015, 19:03   #5090
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Default Re: The Official Fuel Prices Thread

massive cuts of 50p on petrol and 46p on diesel!

Source: Twitter
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Old 15th December 2015, 19:07   #5091
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Quote:
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another fraud being perpetrated on consumers. If India has to sustain such high fuel prices, it is like it is a failed state with no control over expenditure and everything being subsidized by fuel monies.

India is not a failed state. It has a failed government. From where our fat politicians will swell their bellies?

Today is World rant day.😡😡
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Old 15th December 2015, 19:18   #5092
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Default Re: The Official Fuel Prices Thread

Petrol Price Cut by 50 Paise/Litre, Diesel by 46 Paise/Litre

Source: http://profit.ndtv.com/news/economy/...-litre-1255224
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Old 15th December 2015, 20:16   #5093
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Default Re: The Official Fuel Prices Thread

Also saw on TV that an increase in excise is on the cards/consideration. If anyone has information, please share.
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Old 15th December 2015, 22:29   #5094
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Quote:
Originally Posted by lurker View Post
another fraud being perpetrated on consumers. If India has to sustain such high fuel prices, it is like it is a failed state with no control over expenditure and everything being subsidized by fuel monies.
The country is today talking about banning registration of new cars and you are ranting for further reduction in fuel prices. There is a threshold or barrier in the fuel prices which is keeping away the two wheeler drivers from using or owning four wheelers. If you breach that barrier, roads will be flooded with four wheelers which will be nothing but a catastrophe.

Last edited by poloman : 15th December 2015 at 22:34.
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Old 15th December 2015, 22:35   #5095
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Default Re: The Official Fuel Prices Thread

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. There is a threshold or barrier in the fuel prices which is keeping away the two wheeler drivers from using or owning four wheelers. If you breach that barrier roads will be flooded with four wheelers.
Interesting thought process, what about the affordability factor? People don't buy 4 wheels just based on the fuel prices right? The cost of the car is also a bit factor to a lot of working class in India.

The people who are able to buy 4 wheels, they will continue to buy irrespective of the fuel prices.
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Old 15th December 2015, 22:37   #5096
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by poloman View Post
There is a threshold or barrier in the fuel prices which is keeping away the two wheeler drivers from using or owning four wheelers. If you breach that barrier, roads will be flooded with four wheelers which will be nothing but a catastrophe.
I seriously hope you are being sarcastic here. Government trying to control Saale of cars by keeping fuel prices high instead of taxing cars more is really a funny idea.
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Old 15th December 2015, 22:40   #5097
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by dass View Post
Interesting thought process, what about the affordability factor? People don't buy 4 wheels just based on the fuel prices right? The cost of the car is also a bit factor to a lot of working class in India.

The people who are able to buy 4 wheels, they will continue to buy irrespective of the fuel prices.
The fuel prices and mileage of four wheelers are a major deterrent for many people to ditch four wheelers as their daily ride. Even managers in my company commute on bikes just to save few bucks even after having high end cars. If you reduce the price of petrol to say 30Rs/litre lot of drivers will ditch two wheelers, public transport and company transport to the luxury of their personal cars. If you are in Bangalore you can see this phenomenon when it rains. Every one switches to four wheelers and the result is gridlocks everywhere.
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I seriously hope you are being sarcastic here. Government trying to control Saale of cars by keeping fuel prices high instead of taxing cars more is really a funny idea.
I am not at all being sarcastic. The country has already paid a heavy price for keeping the price of diesel less than that of petrol. This has lead to the explosion in the number of diesel cars.

Last edited by poloman : 15th December 2015 at 22:45.
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Old 16th December 2015, 09:58   #5098
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by dass View Post
Petrol Price Cut by 50 Paise/Litre, Diesel by 46 Paise/Litre

Source: http://profit.ndtv.com/news/economy/...-litre-1255224
Quote:
Originally Posted by JD1 View Post
Also saw on TV that an increase in excise is on the cards/consideration. If anyone has information, please share.
I suspect that the OMCs are holding back to then 'absorb' the excise hike. I can see no other logic. If they are trying to slowly hike Diesel then 4p is not even peanuts.
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Old 16th December 2015, 10:21   #5099
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by poloman View Post
The country is today talking about banning registration of new cars and you are ranting for further reduction in fuel prices. There is a threshold or barrier in the fuel prices which is keeping away the two wheeler drivers from using or owning four wheelers. If you breach that barrier, roads will be flooded with four wheelers which will be nothing but a catastrophe.
if you mean that the traffic situation in bangalore is going to get much worse, then bangalore is in a mess due to it's own making and people in other parts of the country need not lift the weight for bangalore's mess. If bangalore can not implement metro rail and suburban transport and flyover's effectively it isn't the fault of rest of the country that it is grid locked for most of the time.

This also applies to Delhi, NCR and other oil droplets of the country which have a high car population already.
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Old 16th December 2015, 12:18   #5100
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Default Re: The Official Fuel Prices Thread

Excise hiked on both petrol and diesel, looks like only partial benefits of the lowered prices have been passed to the end customers.

http://www.moneycontrol.com/news/eco...-_4600121.html
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