[Jignesh]

Hello All,

Petrol Prices increased by Rs. 2 plus effective midnight tonight. Reason for hike: falling Rupee (58 against US Dollar).

New Prices in metros:

Delhi Rs. 66.39 (hike of Rs. 2.40)
Mumbai Rs. 74.60 (hike of Rs. 2.52)
Kolkata Rs. 73.79 (hike of Rs. Rs. 2.50)
Chennai Rs. 69.396 (hike of Rs. 2.54)

Thanks,

[gomzi]

Originally Posted by Animesh

Price of Petrol in Mumbai was indeed increased even before this new hike of 75p per litre (excluding taxes). I paid Rs. 71.19 per litre on 31-May-13 even as I remember paying 69 something few days back. Even I am assuming that it's because of LBT. Poor us.

Yup, i'd paid the same rate couple of days ago while tanking up before the latest announced price hike. The pump attendant I asked didn't know why the price had been raise but said it had been in effect for a few weeks already.

[mkpiyengar]

Can someone clarify what is the Percentage of LBT ?

In Mumbai it used to be 4.5% Octroi because of which the fuel prices used to be higher than Navi Mumbai. This before LBT

Now if LBT is implemented and it is more than Octroi at 4.5 % then what is the benefit of LBT.

Earlier only Mumbai had to suffer due to OCTROI, Now then call it LBT and charge the entire State.

Just Looting under different HEADING, Is what I see it !!

Cheers.
MKP

[ghodlur]

Originally Posted by mkpiyengar

Can someone clarify what is the Percentage of LBT ?

In Mumbai it used to be 4.5% Octroi because of which the fuel prices used to be higher than Navi Mumbai. This before LBT

Now if LBT is implemented and it is more than Octroi at 4.5 % then what is the benefit of LBT.

The % of LBT on fuel prices in Mumbai is yet to be announced and will be included in the list of services that come under LBT. IIRC the octroi on fuel in Mumbai was 3% & brought down during the high fuel price conditions, 4.5% is for cars and vehicles.

But looking at the Thane Municipal Corporations LBT charter, fuels are levied 3.5% LBT as against 0.5% (its true!!!) Octroi earlier. Hence fuel in Thane costs about 1.75 rs more than that sold in Mumbai and forcing Thanekars to fill in Mumbai.

[mkpiyengar]

Earlier Vashi used to be 85 paise cheaper than Mumbai Price.

Earlier Thane prices were higher about 1Re more than Mumbai ever since they started the concept of charging Octroi similar to Mumbai.

So Panvel < NaviMumbai < Mumbai < Thane.

Now sure the situation now. They just want an excuse to fleece us and fill their coffers. Octroi then toll the list goes on...

Cheers
MKP

[mkpiyengar]

Just got this from the NMMC Site regarding LBT for Fuels:

4 Molasses, rectifred spirit, absolute alcohol and extra neutral alcohol. 5.00%
5 High Speed Diesel Oil 3.5%
6 Aviation Turbine Fuel (Duty paid) 5.00%
7 Aviation Turbine Fuel (Bonded) 5.0%
8 Aviation Gasoline (Duty paid) 5.00%
9 Aviation Gasoline (Bonded) 5.00%
10 Any other kind of Motor Spirit 3.5%

http://www.nmmconline.com/c/document...&groupId=10156

This from Another link:
http://59.90.140.204/EIPPROD/LBT/LBT...-A-ENGLISH.pdf

It shows 1.5 % and 2.5% for Motor Cars under different headings. Not sure which is to be taken to account.

Also, shows 1% for HSD(High Speed Diesel) and 3% for Gasoline.

Cheers
MKP

[ghodlur]

Originally Posted by mkpiyengar

Just got this from the NMMC Site regarding LBT for Fuels:

5 High Speed Diesel Oil 3.5%
10 Any other kind of Motor Spirit 3.5%

http://www.nmmconline.com/c/document...&groupId=10156

This one seems more correct to me. Its the same in Thane so I guess for cities wherever LBT has been implemented, these are the rates.

For Mumbai also you can expect the same rates then if LBT is implemented.

[mkpiyengar]

Originally Posted by ghodlur

This one seems more correct to me. Its the same in Thane so I guess for cities wherever LBT has been implemented, these are the rates.

So if one has choice then, we should be buying the cars with Navi Mumbai and re-fuelling in Mumbai Ridiculous !!!

Atleast, till they implement LBT in Mumbai, Thane would be expensive on both fronts.

Cheers
MKP

[romeomidhun]

Source: http://economictimes.indiatimes.com/...w/20801098.cms

"the government today approved near doubling of natural gas prices to $8.4 from April 1 next year, a move which will result in rise in power tariff, urea cost and CNG prices."

Now, all CNG vehicles's sales will plummet. Jai Petrol. Jai Diesel.

[sgiitk]

Good. At least now Natural Gas will be more easily available, since there is incentive to produce more. At the moment both exploration and production were in the doldrums.

[Jignesh]

Hello All,

With Rupee touching 60 against US Dollar, I feel Petrol prices are due another round of hike on 1st July. In my opinion the hike will be atleast Rs. 2 + taxes per liter. What do you say friends?

Also since Diesel prices were not hiked during last fortnight, I feel the scheduled 0.50 paise hike in Diesel prices will also happen on 1st July.

Just read in news papers that Natural gas prices will also be doubled with effect from 1st April 2014. Any guess on how much the CNG prices will increase? If there is a huge hike in CNG prices, then the current incentive for buying CNG cars will expire.

Thanks,

[saket77]

Originally Posted by Jignesh

Hello All,

With Rupee touching 60 against US Dollar, I feel Petrol prices are due another round of hike on 1st July. In my opinion the hike will be atleast Rs. 2 + taxes per liter. What do you say friends?

Thanks,

Amen!

To our fears, petrol prices increased by Rs. 1.82 per liter EXCLUSIVE of VAT. Price effective from tonight. The news is just in, hence not able to provide any link as of now.

[hellmet]

.. and the source : http://www.moneycontrol.com/news/bus...ai_907923.html

and another http://www.deccanchronicle.com/13062...d-rs-182-litre

However, diesel price remains untouched until next week. Why?

And where does our govt get our crude from? 115$ per barrel? All the month Brent didn't exceed 106$ http://www.nasdaq.com/markets/crude-oil-brent.aspx

[arjun18]

Petrol prices rising by 1.78/liter here in Pune from midnight. Fill up people!
I do think the prices will come back down as the rupee strengthens though. I guess watching the fx rates till Monday evening will give us a fair idea.

[dass]

Originally Posted by saket77

Amen!

To our fears, petrol prices increased by Rs. 1.82 per liter EXCLUSIVE of VAT. Price effective from tonight. The news is just in, hence not able to provide any link as of now.

http://profit.ndtv.com/news/industri...-lateststories