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Old 9th December 2020, 11:32   #1
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Default Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Fuel prices have breached a new high. In Mumbai, petrol now retails at Rs. 90.34 per litre while diesel is on sale at Rs. 80.51 per litre.

Fuel prices have been hiked for 7 consecutive days, but have been paused from yesterday, December 8, 2020.

In Delhi, the price of petrol remained constant at ₹ 83.71 per litre with effect from 6 am on Tuesday and that of diesel was unchanged at ₹ 73.87 per litre. In the past 18 days, petrol prices have increased by Rs. 2.65 per litre and diesel prices have risen by Rs. 3.40 per litre in Delhi.

Currently, oil companies Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum review fuel prices on a daily basis and changes are implemented every day at 6 am.

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Last edited by blackwasp : 9th December 2020 at 11:33.
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Old 9th December 2020, 11:43   #2
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

With low crude prices and after applying Oil companies processing margin and Petrol pump dealer commission the petrol cost should be not more than 35 per liter.

But with the kind of taxes levied by Central and State governments for the infrastructure provided is just

Wonder, how will the government plan to offset their income loss from heavily taxing the highest sold commodity in the world by pushing for electric vehicles in the future.
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Old 9th December 2020, 11:46   #3
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

It’s okay, we are condemned to pay through our noses since apparently, we earn, so that we can give direct and indirect taxes to the government, which in turn will be coming up with schemes and plans to make us believe that we are doing great service for the nation !!
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Old 9th December 2020, 12:07   #4
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

What a daylight robbery! 50 plus rupee tax for per liter fuel

After seeing the price hike, I am seriously considering selling one of the car and replacing with EV - then use roof top solar to power it up. Long drives have become far too less these days anyway.
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Old 9th December 2020, 12:24   #5
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

With such kind of pricing the way to go is EV and hybrid for sure. EV vehicles will take atleast min 5 years to become mainstream vehicles, a Hybrid car which can belt out 20-25 kmpl in Mumbai's horrendous traffic will eradicate and bomb proof the owner from the ever ascending fuel prices. I wonder how the government will milk the common public 20 years from now probably when fossil powered cars will not be in use much. The only saving grace for most people is that due to the pandemic most cars will not be used daily. The traffic conditions speak otherwise though.
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Old 9th December 2020, 12:25   #6
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Shell V-Power is Rs.99.95 in Bangalore, it has touched the historic triple digit mark and regular is Rs.92.20, normal goverment run adulterated petrol is in the Rs.87 range.

Monumental moment for us, one again we get the stick for trying to move about, restarting an economy that has been in hospital for the past 6 years and presently in the ICU.

We're paying a heavy price for voting, paying tax and obeying civil laws like we always have. The ever-optimists will still be rubbing their palms waiting for a miracle to happen to this dystopian, draconian "developing" country.
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Old 9th December 2020, 12:33   #7
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Quote:
Originally Posted by SnS_12 View Post
Wonder, how will the government plan to offset their income loss from heavily taxing the highest sold commodity in the world by pushing for electric vehicles in the future.
By applying the same taxes to electricity in the the future!
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Old 9th December 2020, 12:33   #8
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Wait, there is a question. Is there any reason why we the citizens are just " silently reacting" to the recent price hikes ??

I wont call it recent, the case is same for last couple of years or more!

Previously we used to cry when the petrol prices were increased from ₹35/liter to ₹36 and that too when the crude oil price was $150/ barrel!

Now the crude oil is priced around $45(1/3rd) and we are happily paying ₹95/liter (300% higher!) for some unknown reason.

This is daylight robbery by our system!

Last edited by kamilharis : 9th December 2020 at 12:35.
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Old 9th December 2020, 12:35   #9
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

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Originally Posted by dark.knight View Post
Shell V-Power is Rs.99.95 in Bangalore, it has touched the historic triple digit mark and regular is Rs.92.20, normal government run adulterated petrol is in the Rs.87 range.
Per barrel cost at the moment is US$ 48 as against US$ 65 in January 2020. So looking at our economy and the rise in crude oil prices, looks like cities like Mumbai and Bangalore will be soon seeing regular fuel at 100 per liter as government won't give up the temptation of filling their dried up coffers from the taxes they are earning on fossil fuel.
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Old 9th December 2020, 13:06   #10
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Well, somebody has to pay for the massive amount of inefficiencies in public expenditure. This isn't a rant against the welfare state but rather than wasteful expenditure by said state, but if you look closely, it's not their fault as such either. It is what the public wants and votes for, if any government dare revoke inefficient policies, we end up witnessing protests. The urban upper middle class is irrelevant as a voting bloc and thus their interests are rarely looked after in policy decision making.

Even today, less than 10% households in India own a car. The figure stood at ~5% in 2011, haven't found credible statistics since. That 5% includes people who have an old 800 or altos and large portion do not drive their cars regularly. Two wheelers are pretty efficient and they do not feel the brunt of petrol price hikes as much as four wheeler owners.

We can all complain about this but this is a feature of democracy we might as well learn to live with. At least I'm trying to, for the sake of my sanity.
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Old 9th December 2020, 13:42   #11
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

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Originally Posted by RoadMonkey View Post
Two wheelers are pretty efficient and they do not feel the brunt of petrol price hikes as much as four wheeler owners.
I beg to differ, have seen plenty of contract workers who can't afford more than 50rs/day for fuel. Anything more, they have to compromise on basics like food/clothing.
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Old 9th December 2020, 13:54   #12
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Quote:
Originally Posted by dark.knight View Post
We're paying a heavy price for voting, paying tax and obeying civil laws like we always have. The ever-optimists will still be rubbing their palms waiting for a miracle to happen to this dystopian, draconian "developing" country.
It has always made me wonder - what option does one have?

Can one do away without buying petrol/diesel?

Can one buy it from an alternate vendor/source?

Will a change in government (from party B to C or A or T or xyz) help us?

Are any of the state governments doing any better?

Is the tax money put to any good use?

Whenever I thought, the answer to all the above questions has been a big 'NO'.


Unfortunately, the taxes from fuel are the biggest chunk of revenue for most (if not all) of the states and they will continue to milk us cash cows.

For those of us thinking that when market shifts to EVs and all, Govt. can't milk us anymore, I would forecast otherwise. Using the 'going concern' principle, they would identify other revenue sources to milk us and fill their coffers.

Last edited by ashis89 : 9th December 2020 at 14:01.
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Old 9th December 2020, 13:59   #13
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Filled up today. Was shocked to see prices sky-rocketing again. ₹90.06/L of fuel in Pune. Taxes are way too high, with close to 50% tax on a litre of fuel.
I've started getting the feeling that going to the Gulf and filling up will be cheaper than filling up here.
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Old 9th December 2020, 14:07   #14
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

Does anyone feel like me here? I am actually happy. Both income tax payers (like me) and non income tax payers like so called farmers, politicians and businessmen need to buy in the same market. So pay the same price for petrol/diesel. Let govt increase it more so that latter also (forced to) pay more taxes...however, govt ought to stop double taxing IT payers like us :-(

Edit- I can control my petrol expense e.g. by reducing unnecessary errands and trips, however cannot increase my income by evading TDS. The real cost of one litre petrol is 90/- to a "so called" farmer while it is 90/.67 = 134/- for me!

-BJ

Last edited by bj96 : 9th December 2020 at 14:22.
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Old 9th December 2020, 14:10   #15
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Default Re: Petrol price crosses Rs. 90 / litre in Mumbai, diesel at Rs. 80

I remember reading a while back inflation is like a flat tax for everyone but which overwhelmingly impacts the lower strata of society. Fuel and vegetable / food prices are the best indicators of inflation and also have a high weightage in the inflation calculation. This silly routine of dropping fuel prices in election year and then post election screwing the voters has go to stop. Govt is probably raking in the tax now to cut prices when it suits them and then make it look like it's a favor to us.

We are paying now for the future election year price cut *puke emoji*

All that talk of record GST revenue / $ 400 billion dollar reserves etc goes down the drain when the common man anyway ends up spending more on the essentials and saving lesser every month.
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