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Old 17th December 2016, 10:27   #5776
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For all the talk of rationalising diesel and petrol prices this just widens the gap even more.
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Old 19th December 2016, 12:37   #5777
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Default Re: The Official Fuel Prices Thread

Make hay till the Sun shines; the additional burden of state taxation will continue until the impact of OPEC cut on production will hit the markets / economies depending upon oil imports.

More so in India, the state Governments have maintained control over fuel pricing as it has been kept out of GST. Rationalization in terms of fuel pricing and gap between petrol and diesel price for the end consumer will thus stay the way it is across the states depending upon how state Governments decide upon fuel taxation.

Unless fuel is covered under GST, there would be no certainty and one can get any kind of surprises every fortnight. Some experts are of the view that if NDA gets a third term (2024) and not just 2019 and a lions share in the state election either directly or through regional partners (in Assembly elections), a transparent price discovery will not be possible. That is specifically the reason as why international brands (already operating in India for retail sales of petroleum products) as well as new players are on a wait and watch.

The next national elections of 2019 would be a litmus test for the NDA Government and unless they maintain clear majority, no changes are expected. Also in the upper house, the strength of NDA has to stabilize which will help them take few more decisions swiftly.

Last edited by i74js : 19th December 2016 at 12:49.
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Old 26th December 2016, 09:35   #5778
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Another Hike in the offing - A New Year's Special!

Petrol to become costlier ?

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Both gold and crude are among India's chief imports and therefore have a direct bearing on the current account, and thereby the rupee. The rates have been ar rived at assuming currency remaining around Rs 67.90 to the USD.
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Old 30th December 2016, 13:57   #5779
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Default Re: The Official Fuel Prices Thread

So, I filled up fuel of Rs.1500 on 26th through my credit card and this morning I got message:

"Dear Customer, Refund of INR 11.25 from POS 2 has been credited to your Credit Card XXXXXX on 26-DEC-16. For details, please call our Customer Care."

This is 0.75% discount for cashless payment. Fuel surcharge was already reversed (card feature).
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Old 30th December 2016, 14:12   #5780
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Default Re: The Official Fuel Prices Thread

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Originally Posted by mukeshgoel View Post
So, I filled up fuel of Rs.1500 on 26th through my credit card and this morning I got message:

"Dear Customer, Refund of INR 11.25 from POS 2 has been credited to your Credit Card XXXXXX on 26-DEC-16. For details, please call our Customer Care."

This is 0.75% discount for cashless payment. Fuel surcharge was already reversed (card feature).
This is good. It means some ground work has been done to make the 0.75% cashback worthwhile. Now, it needs to be confirmed, whether surcharge will continue for cards which do not have the surcharge reversal feature. I think they should bring uniformity here as well.
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Old 30th December 2016, 14:26   #5781
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Now, it needs to be confirmed, whether surcharge will continue for cards which do not have the surcharge reversal feature.
No reversal on surcharge :( I made a purchase of 500 in citibank rewards card and got charged 514.xx. But citibank people said, surcharge will be reversed if the payment done on citibank pos terminal irrespective the brand(rewards, indian oil..) for a limited duration.
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Old 30th December 2016, 15:11   #5782
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Default Re: The Official Fuel Prices Thread

Is everyone here who is paying for fuel through debit cards getting the stated 0.75% discount/cash back?

I filled fuel twice and paid through my debit card (on 16th and 24th December) totalling Rs. 1330/- but no discount or cash back is made till date.

How is it with you guys?
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Old 30th December 2016, 15:14   #5783
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Default Re: The Official Fuel Prices Thread

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Originally Posted by saket77 View Post
Is everyone here who is paying for fuel through debit cards getting the stated 0.75% discount/cash back?

I filled fuel twice and paid through my debit card (on 16th and 24th December) totalling Rs. 1330/- but no discount or cash back is made till date.

How is it with you guys?
I am receiving the 0.75% cashback. I use SBI Credit Card and I receive a message normally on the fourth working day after fueling stating that Rs. xx.xx was credited to the Card.
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Old 30th December 2016, 15:22   #5784
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by saket77 View Post
Is everyone here who is paying for fuel through debit cards getting the stated 0.75% discount/cash back?

I filled fuel twice and paid through my debit card (on 16th and 24th December) totalling Rs. 1330/- but no discount or cash back is made till date.

How is it with you guys?
I think its a hit or a miss kind of situation.
I got the cash back for one transaction out of the 4 I made. The transaction that I received the cash back for was done on 20th Dec and the cash back came into my account on the 26th Dec.
For a transaction done on 16th Dec, the cash back has not yet happened.
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Old 30th December 2016, 15:30   #5785
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Default Re: The Official Fuel Prices Thread

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Originally Posted by saket77 View Post
Is everyone here who is paying for fuel through debit cards getting the stated 0.75% discount/cash back?
Yes, I got the cash-back. I had diesel for my XUV 500 costing ₹ 3209.48 and petrol for Thunderbird 500 costing ₹ 500, both on 15 Dec 2016, using my Axis Bank Priority debit card at Chennai. I got the cash-back of ₹ 24.07 and ₹ 3.75 credited to my bank account on 28 Dec 2016, the only gain I got amidst pains due to the demonetization muddle.
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Old 30th December 2016, 16:05   #5786
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Talking Re: The Official Fuel Prices Thread

I got the said discount recently on my Citi Bank Credit Card.

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I missed the discount on previous fill since this offer was announced on the same day

Cheers!

Vinu
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Old 30th December 2016, 17:33   #5787
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Default Re: The Official Fuel Prices Thread

Even i got Rs15 cashback after filling fuel for 4000 on two occasions.
Question, when was this scheme introduced? I mean from which date in December?
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Old 30th December 2016, 17:59   #5788
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I mean from which date in December?
From 12/12/2016 onwards. But it took few more days to get activated.
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Old 30th December 2016, 18:05   #5789
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Default Re: The Official Fuel Prices Thread

I got the 0.75% discount back on my Amex card for filling fuel this week.
Good thing is most of the pumps on the highways are accepting cards while earlier they were insisting on only cash.
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Old 30th December 2016, 18:19   #5790
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Default Re: The Official Fuel Prices Thread

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Originally Posted by myavu View Post
From 12/12/2016 onwards. But it took few more days to get activated.
Ok got it, thanks, i got confused regarding the percentage. Alls well now

Another question popped up. What if i use Points to buy petrol on my Indian Oil Citibank CC, will i still get this refund without any charges?

Last edited by nitinralli : 30th December 2016 at 18:24.
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