[volkman10]

Local fuel prices may surge once elections are over.

traded above $93 a barrel, briefly touching $94, on Monday but domestic fuel prices remained unaffected, prompting warnings of a sharp price rise after the conclusion of elections next month.

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[Dry Ice]

Originally Posted by volkman10

Local fuel prices may surge once elections are over.

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I wonder why can’t the Govt actually clarify that fuel prices at pumps are tied to elections and not the crude price.

State elections will have the largest bearing followed by National elections. Municipality, Panchayat etc may have further localised impact restricted to the pumps within the specific region.

[ABHI_1512]

Originally Posted by Dry Ice

I wonder why can’t the Govt actually clarify that fuel prices at pumps are tied to elections and not the crude price.

State elections will have the largest bearing followed by National elections. Municipality, Panchayat etc may have further localised impact restricted to the pumps within the specific region.

When was the last time one got any clarification to anything anyways ? The utility of De- regulation of fuel prices has been turned on its head long time back when excise duties were hiked to abnormal levels. It has now become a tool to extract whether one likes it or not !! Fuel prices has now become a joke which is being played on us. Imagine, we know prices will be hiked once the elections are over and yet we are happy that prices have not been touched despite crude prices going up for some time now

[Jangra]

And yet we are excited to start our new turbo petrol, gas guzzler journeys. I remember not too long ago my full tanks were below 4K rupees and now it’s 6k. To a common man, with pandemic hitting the pockets and such expenses going up 50%. It’s worrisome.

[sassid]

The old maxim that that only two constants in life are Death and Taxes - needs a supplementary addition in India - Fuel prices! Our government is following a very old rule book - that of loading all its taxes at the bottom of the pyramid.

The so called temporary hikes of central and state levies to help the government take Covid relief measures - have now become a permanent part of our lives. This is so much so that the government does a partial rollback and expects the public to be grateful.

This is not to criticise the existing government-any replacement government will happily pick up the ball and keep it rolling - giving us maybe a 2 rupee relief and expecting us to be grateful.

What can we look forward to

1. We will pay even more for petrol (2 rupee hike starting October) that cannot be blended with ethanol. This will only increase further as our poor vehicles will not be able to tolerate the official dilution of petrol quality beyond a point
2. The so called green blended fuels will progressively carry larger and larger components of ethanol - while the cost of fuel will continue to increase as the government sees fit
3. The electric vehicle push will wind up as yet another bait and switch. Low cost per KM will be used as a rationale to make the public pay more to buy an EV and then surprise surprise the cost per unit of electricity will soon make the same journey to sky high as the petrol prices have

We better get to exercising our back muscles as we are going to be carrying this load for a long long time

[longhorn]

At current crude oil prices, you are looking at a hike of Rs 15 -20 per litre of petrol once the elections are over. This is of course, assuming that there will not be any roll back of the taxes on fuel.

[GJ01]

Originally Posted by longhorn

At current crude oil prices, you are looking at a hike of Rs 15 -20 per litre of petrol once the elections are over. This is of course, assuming that there will not be any roll back of the taxes on fuel.

Completely agree. The day final phase of voting ends, companies will start declaring rate hikes from that midnight itself. Have made a mental note to tank up around 7th - 8th March. The last phase of voting in UP is on 10th Mar. I Expect Petrol to breach 120 Rs

[mayankk]

Originally Posted by GJ01

Completely agree. The day final phase of voting ends, companies will start declaring rate hikes from that midnight itself. Have made a mental note to tank up around 7th - 8th March. The last phase of voting in UP is on 10th Mar. I Expect Petrol to breach 120 Rs

Doubtful. A 30 rupee hike over a period of 30 days will be swallowed better by the sheep than 20 rupees overnight.

[volkman10]

Expect a huge hike in fuel prices shortly ( first week of March?).

Brent crude at USD 103/bbl

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[ottocycle]

Originally Posted by GJ01

The last phase of voting in UP is on 10th Mar. I Expect Petrol to breach 120 Rs

Last day of voting in UP is actually 7th March. 10th March is counting day. So 7th should be it to be safe side.

[Chetan_Rao]

That entire exercise was to remove the mental barrier for 3-digit prices. 100 used to feel absurd, now we've got people praying it stays at that!

Give it another couple years, we'll be celebrating NOT breaching 200!

[souvikjana83]

Govt is not worried about increasing the fuel prices as it is seeing the long queue of people buying up petrol and diesel vehicles and not EVs. It means people are still able to afford it and not ready to swith to EVs. The day people stop buying petrol and diesel vehicles will be the day it stop increasing taxes on fuel.

[tbppjpr]

Originally Posted by souvikjana83

The day people stop buying petrol and diesel vehicles will be the day it stop increasing taxes on fuel.

Little correction there, read your statement this way:

"The day people stop buying petrol and diesel vehicles will be the day tax on electricity will start increasing rapidly."