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Old 8th April 2016, 00:49   #5431
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Default Re: The Official Fuel Prices Thread

The government is clearly not interested in bringing down the inflation at the cost of more revenues. And the people are realising it more day by day, that this has nothing to do with the international crude prices. IMO the government is going to press along with the same strategy till there is the light of economic growth at the end of the tunnel.

Last edited by FlyingSpur : 11th April 2016 at 22:58. Reason: Corrected grammatical errors. Please double-check before posting.
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Old 11th April 2016, 18:24   #5432
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Default Re: The Official Fuel Prices Thread

Petitioning the Govt on fuel prices wont get us anywhere.

We need to get Fuel under GST - previous Govt was pushing for this but the then opposition had opposed it.

Now, it seems after Arvind Subramaniam panel report recommending fuel pricing be part of GST, present Govt is also leaning towards it.

If fuel doesnt come under GST, it will forever be prone to manipulation by Center / States

http://www.telegraphindia.com/115120...p#.VwudkaR97Dc
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Old 13th April 2016, 16:10   #5433
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Default Re: The Official Fuel Prices Thread

Any predictions on the price after 15th this month? Brent has gone up but Rupee is stable and sticking at 66 level. I would expect prices to remain the same at the very worst prediction, considering that the past 2 hikes seemed to be higher than warranted.
Would be pleasantly surprised if there was a minor correction, especially in the price of petrol.
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Old 13th April 2016, 18:12   #5434
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Default Re: The Official Fuel Prices Thread

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Originally Posted by Dennis View Post
Any predictions on the price after 15th this month? Brent has gone up but Rupee is stable and sticking at 66 level. I would expect prices to remain the same at the very worst prediction, considering that the past 2 hikes seemed to be higher than warranted.
Would be pleasantly surprised if there was a minor correction, especially in the price of petrol.
We have never missed an opportunity to hike, one reason is good enough (even if the other offsets it)!

That said, looking at the low mileage vehicles (very very relative) sales, it doesn't look like anyone bothers about fuel price anymore.
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Old 14th April 2016, 07:04   #5435
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Default Re: The Official Fuel Prices Thread

I think we are in for a hike, both WTI and Brent are above $41. My own guess is about ₹2 increase in Petrol. Of course with pricing on International Parity we should always be prepared for the highly unlikely event of a drop!
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Old 15th April 2016, 11:44   #5436
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Default Re: The Official Fuel Prices Thread

Iran Ends Free Crude Oil Shipment to India. I am wondering if this will affect the pricing of fuel for Citizens of India.

Source : http://auto.economictimes.indiatimes...rupee/51826369

Article :

Quote:
NEW DELHI: Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees.

The Persian Gulf nation is now insisting on being paid in Euros for the oil it sells to Indian refiners. It also wants refiners like Essar Oil and Mangalore Refinery and Petrochemicals Ltd (MPRL) to clear nearly USD 6.5 billion of past dues in Euros, officials said.

Iran had in November 2013 offered free delivery of crude oil to Indian refiners as tough Western sanctions crippled its exports.
..

The transportation fee will for now be less than half it takes to ferry oil from Iran. "May be in future this 50 per cent discount too may go," he added.
...
With US lifting sanctions in January, Iran has told Indian authorities that the three-year old mechanism of paying 45 per cent of oil import bill in rupees and keeping the remaining 55 per cent pending for payment channels to clear, stands terminated.
...

"NIOC is raising invoice for oil it is now exporting to Indian refiners in Euros," he said.
...
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Old 15th April 2016, 18:33   #5437
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Default Re: The Official Fuel Prices Thread

Petrol price cut by 74 paise per litre, diesel by Rs 1.30 per litre. ( PTI )

Source : Twitter
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Old 15th April 2016, 19:52   #5438
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Default Re: The Official Fuel Prices Thread

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Petrol price cut by 74 paise per litre, diesel by Rs 1.30 per litre. ( PTI )
Against all the odds!

Many pumps in Chennai were closed today. Were they too expecting a hike?

I wish there are some elections on all the months!

Last edited by romeomidhun : 15th April 2016 at 20:06.
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Old 15th April 2016, 22:37   #5439
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Default Re: The Official Fuel Prices Thread

Sticking to the topic, I am working to find alternatives to Petrol/Diesel. Petrol bunks have become tax collection agencies (Sub branches of Income Tax offices)
I believe in Porter's 5 forces. Will create viable/feasible alternatives for Petrol/Diesel. I will update the group of my research.
Moderator, please delete #5272 through #5284 also to maintain consistency of deleting off-topic posts.
I agree to sticking to the topic.
Please open a new thread on "Improving Indian Railways - Suggestions"

Last edited by manduvindupondu : 15th April 2016 at 22:38. Reason: update
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Old 16th April 2016, 09:26   #5440
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Default Re: The Official Fuel Prices Thread

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Originally Posted by romeomidhun View Post
Against all the odds!

Many pumps in Chennai were closed today. Were they too expecting a hike?

I wish there are some elections on all the months!
Yes, a total surprise, If we accept the argument that the pricing is really free, then elections may have nothing with it. Remember a fortnight ago there was a hike.

Will those blaming the govt for every hiccup now apologize or even reconsider? I doubt it.

Last edited by sgiitk : 16th April 2016 at 09:28.
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Old 16th April 2016, 12:29   #5441
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Default Re: The Official Fuel Prices Thread

Our last hike in Karnataka was about 5 rupees or so thanks to a hike in VAT by our local moronic government. Elections are only after the next budget so the consensus is they will reduce these rates in the budget and then go to elections and hope to use that to hoodwink people. I so wish petrol prices come under GST.
Am surprised they reduced price but guessing this was mostly done by reducing tax a small percentage thanks to upcoming elections. Our life
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Old 17th April 2016, 06:47   #5442
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Default Re: The Official Fuel Prices Thread

@pganapathy; I will also like to see fuels under GST (if and when it comes). That was a bargaining counter to get the states on-board.

I do not think the drop in Diesel prices is peanuts, and I did read somewhere that there was a bit of an inventory crisis, so maybe that was the cause.
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Old 17th April 2016, 07:42   #5443
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sgiitk View Post
Yes, a total surprise, If we accept the argument that the pricing is really free, then elections may have nothing with it. Remember a fortnight ago there was a hike.

Will those blaming the govt for every hiccup now apologize or even reconsider? I doubt it.
You want people to apologize to a Govt that is obviously manipulating taxes on fuel as it sees fit? Why not demand true free market pricing instead? Only bringing fuel into GST will make that happen.
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Old 17th April 2016, 11:54   #5444
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Originally Posted by gsurya View Post
Only bringing fuel into GST will make that happen.
It'll certainly reduce our tax burden to be specific. Besides the taxes on fuel is from where all the money comes in for the government.But I guess what Sgiitk points out is that whenever there is even a fifty paisa increase in the prices there is a lot of hue and cry on that and if the prices go down even by 3odd rupees ,most of us will be like its "just" a three rupee fall.

On a side note, I've noticed that the rate of services which depend on fuel never goes down with decreasing fuel prices, the bus tariff, transportation charges etc which rose when the fuel prices went up are still pretty much the same even though fuel prices have fallen.

However m fine with the government increasing the taxes as long as they improve on the infrastructure and keep working on our economy.

Just my two cents
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Old 17th April 2016, 14:10   #5445
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Default Re: The Official Fuel Prices Thread

@VRPAI; @gssyrya; it is very easy to blame the national government for everything. Yes, they increased excise, but only after states started increasing VAT directly or under the excuse of a floor VAT (whatever that stands for?). They had gone fat with the VAT earnings at high fuel prices.
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