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Old 28th October 2016, 06:50   #5716
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Default Re: The Official Fuel Prices Thread

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Originally Posted by jetsetgo08 View Post
How much would be increased? What can we expect in Diwali gift this time?
Crude oil prices up about 1$ since 1-Oct. Expecting a Rs 1.25 hike in petrol ..
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Old 30th October 2016, 01:21   #5717
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Default Re: The Official Fuel Prices Thread

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Originally Posted by NetfreakBombay View Post
https://www.iocl.com/uploads/priceBu...S-15-10-16.pdf

Link mentioned in the quoted post has data for all individual components, such as :

Attachment 1569538
I admit I am neither literate nor numerate, I am poleaxed and I have lost my shirt. When a barrel was $110 the price was Rs 75 When a barrel of oil was $30, the price was Rs 67. When a barrel of oil was $50 the price was Rs 67. Some countries have been driven to desperation and penury but our oil companies and our government are doing just fine while we wait with bated breath for the next increase, post Diwali. Season's greetings to all fellow BHPians.
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Old 30th October 2016, 09:41   #5718
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Default Re: The Official Fuel Prices Thread

With GST, will excise duty, additional excise duty, surcharge, etc go away ?
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Old 30th October 2016, 10:07   #5719
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Default Re: The Official Fuel Prices Thread

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Originally Posted by siddutta View Post
With GST, will excise duty, additional excise duty, surcharge, etc go away ?
Fuel will not be under GST at the moment. So the argument is purely academic. yes, in general GST subsumes all those mentioned by you.
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Old 30th October 2016, 14:31   #5720
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Default Re: The Official Fuel Prices Thread

Thanks SGIITK!. I know Cigarettes, petrol and alcohol are out of GST. I am sure states would hold on to their share of taxes on these and maybe even increase the taxes on them ... But would the central govt. let go of the central govt share of taxes on them, or have a acceptable rate of taxes??
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Old 31st October 2016, 01:06   #5721
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Default Re: The Official Fuel Prices Thread

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Originally Posted by siddutta View Post
But would the central govt. let go of the central govt share of taxes on them, or have a acceptable rate of taxes??
There is some indication by the Central Government Oil minister on this thought.

http://auto.economictimes.indiatimes...r-gst/55023600
Quote:
Oil Minister Dharmendra Pradhan has nudged the states to agree on bringing all petroleum products under the Goods and Services Tax (GST) regime.

Speaking at the Global Investors Meet here, he said petroleum is currently under 'state list' for the the purpose of taxation under GST.

"GST Council will decide on this (taxation of petroleum products). On behalf of the industry, I would request the states to allow petroleum products to be brought under GST taxation," he said.
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Old 31st October 2016, 11:54   #5722
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Default Re: The Official Fuel Prices Thread

After Iraq refusing to join the cartel brent is back to the sub $50 levels. ₹is stable sub 67, so what is the average price for the past fortnight is anybodies guess. I for one expect only marginal changes (under a Rupee) if at all.
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Old 2nd November 2016, 14:53   #5723
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sgiitk View Post
brent is back to the sub $50 levels. ₹is stable sub 67,
Whether it is 30, 50, or 14 USD, Indian tax laws will always be punitive for aam Indians.
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Old 2nd November 2016, 22:28   #5724
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Default Re: The Official Fuel Prices Thread

Hi Friends, as you may all have heard about the protest planned for tomorrow and day after by the petrol bunk dealers, please do not resort to panic buying and create artificial scarcity. The protest is only "No Purchase" and so the sales will be as usual. There will be a problem only if we start hoarding and that may lead to inconvenience to those who are in any emergencies. Cheers
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Old 2nd November 2016, 22:46   #5725
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Quote:
Originally Posted by sumzup View Post
Hi Friends, as you may all have heard about the protest planned for tomorrow and day after by the petrol bunk dealers, please do not resort to panic buying and create artificial scarcity. The protest is only "No Purchase" and so the sales will be as usual. There will be a problem only if we start hoarding and that may lead to inconvenience to those who are in any emergencies. Cheers
Just passed by a petrol bunk near my house and there was a huge queue. I am not able to find any news article related to this protest.
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Old 2nd November 2016, 23:07   #5726
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by sumzup View Post
please do not resort to panic buying and create artificial scarcity. The protest is only "No Purchase" and so the sales will be as usual.
Please read hoardings on all petrol pumps, you will get clear idea.

Name:  40062441.jpg
Views: 854
Size:  22.3 KB
Strike details.
  • 3,4 November - No purchase of any fuel by petrol pump owners.
  • From 5 November the petrol pumps will operate in a single shift from 9am to 6pm only
  • From November 6 the petrol pump dealers will not operate the pumps on holidays and weekends , besides continuation of single shift operation.
  • Its a part of nationwide protest by Indian Petroleum Dealers (CIPD) & All Maharashtra Petroleum Dealers Association (FAMPEDA) includes 54,480 petrol pumps nationwide.
IMO
As they will not purchase fuel on 3rd & 4th their stocks will be emptied by the 5th November.

The fuel purchased on 5th will reach to the bunks by the evening but all of them will be closed at 6pm due to single shift timings.
I hope they resolve the issued before 5th November.

Source : Local Fuel Pump Owner

Last edited by jeepster : 2nd November 2016 at 23:29.
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Old 2nd November 2016, 23:29   #5727
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Default Re: The Official Fuel Prices Thread

Will this apply to COCO pumps? probably not.

Anyone in Pune checked if BP pump opp old RTO office or the IOC pump near Maldhakka also has "Bandd" boards put up?
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Old 3rd November 2016, 02:44   #5728
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Starting the return drive from kol to blr in couple of hours. Reading the post looks like hopefully there will be no trouble. When I spoke to the pump attendant guy last night he told there will be no issues and even went on to the extent to tell that any bandh will only be on 15. Keeping fingers crossed. As sumzup says, hope people don't start hording resulting to scarcity
Btw in kol got the petrol at 69.xx . Orissa was 66.xx. last week
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Old 3rd November 2016, 09:21   #5729
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Quote:
Originally Posted by a*ed View Post
Just passed by a petrol bunk near my house and there was a huge queue. I am not able to find any news article related to this protest.
It was mentioned in almost all the Kannada/local Medias yesterday evening onwards. There is article of the same in Times of India today, and it has been reported in lot of Kannada Dailies since couple of days.

Quote:
Originally Posted by jeepster View Post
Please read hoardings on all petrol pumps, you will get clear idea.

Attachment 1572969
Strike details.
  • 3,4 November - No purchase of any fuel by petrol pump owners.
  • From 5 November the petrol pumps will operate in a single shift from 9am to 6pm only
  • From November 6 the petrol pump dealers will not operate the pumps on holidays and weekends , besides continuation of single shift operation.
  • Its a part of nationwide protest by Indian Petroleum Dealers (CIPD) & All Maharashtra Petroleum Dealers Association (FAMPEDA) includes 54,480 petrol pumps nationwide.
IMO
As they will not purchase fuel on 3rd & 4th their stocks will be emptied by the 5th November.

The fuel purchased on 5th will reach to the bunks by the evening but all of them will be closed at 6pm due to single shift timings.
I hope they resolve the issued before 5th November.

Source : Local Fuel Pump Owner
Hi Jeepster, all of the above is correct. The point is that those pumps who have smaller storing capacities will definitely run dry before 4th November, in fact, they may go dry by 3rd November evening itself. Those bunks who have a larger capacities will be able to run through the 4th. Also, if no one panics then there would not be any necessity of facing inconvenience on the 5th November like you have expressed. But, if people who need less start filling their tanks then there will be no fuel left and that may lead to your point. There are 250+ bunks within the BBMP limits which can store 6.5+ million liters approximately and the same is more than sufficient to last for atleast 3 to 4 working days of Bangalore Public. Not to forget that all the dealers have stocked up to the brim in view of the impending protest so as to ensure the public does not suffer. Cheers and do not panic

Last edited by navin : 3rd November 2016 at 11:03.
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Old 3rd November 2016, 09:50   #5730
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Default Re: The Official Fuel Prices Thread

I expect fuel prices to drop in the next round. Brent is down to the $47 level. Brazil also decided not to join the cartel. So both Iraq & Brazil are out!
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