[adityasiera]

Originally Posted by mukeshgoel

Petrol prices hiked by Rs 7.50 a liter with effect from midnight tonight.

Why cant states come into action and reduce VAT/Octroi/taxes to benefit the common man...

[flyingkolors]

Originally Posted by mukeshgoel

Petrol prices hiked by Rs 7.50 a liter with effect from midnight tonight.

Just got the news and see that people are already flocking at the pumps. Most of the petrol pumps in my area have put out of stock boards too

Below is the confirmation I found on NDTV. Congratulations, petrol now costs 83/- in Bangalore.

The government on Wednesday hiked the price of petrol by Rs 7.50 per litre. The hike will be effective from Wednesday midnight.

The government had decontrolled petrol price in June 2010 but rates were last increased on November 4 last year. This despite oil price rising by 14 per cent and 7 per cent fall in value of rupee against the US dollar.

[ottocycle]

Originally Posted by samarjitdhar

Bangalore will be the hardest hit I guess. Probably over Rs 80 now?

I think it would be Hyderabad/AP. VAT is highest here. Even the shell fuel prices are highest in Hyderabad.

The increase is 10 Rs.

Current price: 73.08.
Revised price: ~83

[shivasuma]

Well, they said because the brent price went up(it was around 120$) we are increasing the prices. Now they say because rupee is falling we are increasing the price. What about the brent price now (I think its close to 90$ now)? We are being royally ripped off by these so-called elected fools.

[selfdrive]

Good going. whats the news on the diesel front?

Originally Posted by flyingkolors

Just got the news and see that people are already flocking at the pumps. Most of the petrol pumps in my area have put out of stock boards too

why would the pumps sell at old price now?!

[ottocycle]

Current Brent Crude Oil price is $108.41.

Shouldn't they think of increasing the diesel prices as well?

[samarjitdhar]

And sometimes TOI as a news organization looks for so many ways to hit rock bottom. They are misreporting the current prices as the revised prices.

Originally Posted by adityasiera

Why cant states come into action and reduce VAT/Octroi/taxes to benefit the common man...

Some of the larger states earn close to Rs. 8-10 K crores in duties and taxes. Thats a significant percentage of any state's budget which they earn without doing anything.

Originally Posted by shivasuma

Well, they said because the brent price went up(it was around 120$) we are increasing the prices. Now they say because rupee is falling we are increasing the price. What about the brent price now (I think its close to 90$ now)? We are being royally ripped off by these so-called elected fools.

Brent price fell to $107 today. I was just checking it today. With the falling rupee even though Brent is down from $120 it kind of cancelled out

Originally Posted by selfdrive

Good going. whats the news on the diesel front?

No diesel hike expected in this government's term. None of the allies regardless of inside or outside support would go with the government. This will only spur many petroheads to buy diesel cars.

[EasyR1der]

Originally Posted by ottocycle

I think it would be Hyderabad/AP. VAT is highest here. Even the shell fuel prices are highest in Hyderabad.

The increase is 10 Rs.

Current price: 73.08.
Revised price: ~83

According to IBN the prices in major cities would be


Petrol in Delhi currently costs Rs 65.64 a litre and after the increase it will be priced at Rs 73.14 per litre.
In Mumbai, the petrol now costs Rs 70.66 but after midnight it will go up to rs 78.16.
Kolkata too faces the pressure with the petrol now costing Rs 77.53 from Rs 70.03.
Similarly, the cost of petrol in Chennai will see a steep hike of Rs 7.50 to 77.05 from Rs 69.55.


Petrol price hiked steeply by Rs 7.50 per litre - India News - IBNLive

[shivasuma]

Originally Posted by samarjitdhar

Brent price fell to $107 today. I was just checking it today. With the falling rupee even though Brent is down from $120 it kind of cancelled out

Exactly my point. Ideally they are still paying the same for a barrel but then they go ahead and increase the prices (probably to cover the damages done by the under recovery, if I can call it that, of diesel).

God save Honda and the others who rely on petrol car sales.

[girishglg]

Can anyone provide link to exact Bangalore prices. Have been searching all over in the internet but no credible source to quote of. Would like to know the exact hit to the last paisa (if that counts anymore)

[selfdrive]

Originally Posted by shivasuma

Exactly my point. Ideally they are still paying the same for a barrel but then they go ahead and increase the prices (probably to cover the damages done by the under recovery, if I can call it that, of diesel).
God save Honda and the others who rely on petrol car sales.

Sorry, but at this point I dont really care about Honda or other manufacturers. I care for the common man who has to survive by using his motorbike.
It is high time that taxes be reduced on petrol or a heavy tax refund be given on petrol like it is given on medical bills.

[man_and_machine]

Originally Posted by selfdrive

It is high time that taxes be reduced on petrol or a heavy tax refund be given on petrol like it is given on medical bills.

Completely agree! This is one sure way, might lead some malpractice, but nevertheless its a temporary means of setting the balance right at least for sincere tax payers. I demand a long term energy policy from the govt. (which ever it might be!).

[benbsb29]

Originally Posted by selfdrive

It is high time that taxes be reduced on petrol or a heavy tax refund be given on petrol like it is given on medical bills.

How true! Let's not forget that conveyance allowance allowed for exemption on taxes is just Rs. 800/- a month. Wonder when they would be revised!

[selfdrive]

Originally Posted by benbsb29

How true! Let's not forget that conveyance allowance allowed for exemption on taxes is just Rs. 800/- a month. Wonder when they would be revised!

that is a general category. I agree that should also be revised.
now there should be a special reserved category for petrol users. additional to all the existing ones where there will be a tax exemption for say 30 litres of petrol a month per earning family member at least.

[girishglg]

Originally Posted by selfdrive

Sorry, but at this point I dont really care about Honda or other manufacturers. I care for the common man who has to survive by using his motorbike.

+1 on the bike situation. Just imagine an owner of a gearless scooter (which many of us are) now shells out Rs.2/ km given a avg mileage of 40 kmpl and average fuel cost of Rs.80 (guessing it to be in Blr).

Now such a situation will break the back of even such a common man.

Come to think of it I know many of my friends using such a means of transport on a daily basis who have to now rely on the very unreliable public transport.