[sgiitk]

I am not sure about the end of the month. Predictions are as bad as $1=₹66.50. Then how much can Brent shield. Of course Iran Oil is the big joker in the pack. As per IOC we have started paying the outstanding balance (c$2.5b) to Iran is $$s.

[Tanveer_2558]

Tankedup my XUV on pune expressway's HP petrol pump today where the diesal was sold for 48.81 Rs. Price should be around 48rs near kalyan/uttarshiv road.

[RedDevil_KP]

Finally I was able to fill up diesel after the prices were slashed. In Bengaluru @47.54 per liter I got 42 liters for 2000 rs. This is least in last 2 years

[geotracks]

Good to see fuel price drop for now at least.

However, my firm conclusion so far, people who decided to opt for diesel vehicles, still come out winners. With fuel prices de-regulated in India, in reality diesel should cost more, just like in other countries. But contrary it is still, just the opposite.

With each price drop, diesel drops more (in terms of INR) and with each price rise, petrol is raised more (in terms of INR) comparatively.

I have 2 petrol vehicles and am very happy with both. My monthly running is not much, so petrol vehicles are good for me in terms of initial investment savings. However, each time I fill up gas at the pump and have to pay more for petrol, even after 'de-regulation' of fuel, I just shake my head & smile looking at the price differential.

My thought, upfront investment for diesel vehicle may be slightly higher (anyways, most people take a auto loan, so an addition of a couple of thousands +- or so per month on EMI is ok) but psychologically paying less each time one fills a tank at the pump (not to forget higher diesel mileage per liter) is very pleasing.

Really wonder if anything has really changed, with all the hype created in forums, news etc. that after de-regulation of fuel in India, diesel & petrol will be 'truly priced'. Even today I see a INR 20 difference between the 2 fuels. Today at the gas station I saw diesel at INR 49.yy versus petrol at INR 69.yy
Wasn't the gap between these fuels in the range of INR 20+- even before de-regulation? So what has changed?

So would my next car be a diesel even though my monthly running is not high? Very likely.

[sgiitk]

@geotracks; The price difference is almost totally due to taxation. Diesel is taxed much less. After all it is the poor kisan's fuel!

[GrammarNazi]

Filled Diesel @47.54/- at the COCO bunk in Koramangala (Bangalore).

Although this is the lowest price in the last 3 years, its notable to know that compared to last year crude prices have dropped ~60% I guess, whereas fuel prices (when it was ~Rs.60/L) have dropped by just ~25%.

Its curious where the rest 35% went ?

Anyway, Rs.1800/- bought me a full tank of ~38L.
Linea MJD delivered a mileage of 19Kmpl (50%city - 50%highway).

[Dry Ice]

Originally Posted by GrammarNazi

Its curious where the rest 35% went ?

Maybe that's because many states hiked VAT to maintain similar price and filled up their coffers.

[JD1]

Originally Posted by GrammarNazi

Although this is the lowest price in the last 3 years, its notable to know that compared to last year crude prices have dropped ~60% I guess, whereas fuel prices (when it was ~Rs.60/L) have dropped by just ~25%.

Its curious where the rest 35% went ?

The relation between crude price and price at retail outlets is not linear due to overheads/fixed costs and taxation. Ideally at the current crude price, we should have been paying somewhere between 50-60 for petrol and same for diesel similar to worldwide rates. Thanks to diesel being tied to commodity prices, it will always be cheaper in India. Rs 10-12 difference should be reasonable but as seen from past rate cuts, petrol price is cut less and diesel more to make common man happy while recovering the costs by keeping petrol price high. As has been mentioned by many posts in this thread, deregulation is a farce and pricing is absolutely non-transparent and fully cartelized. Why can't BP and HP focus more on their internal operating efficiency and work like competitors and undercut each other's pricing? That would be true deregularization where prices in a BP and HP pumps opposite to each other would be different.

[sgiitk]

Originally Posted by Dry Ice

Maybe that's because many states hiked VAT to maintain similar price and filled up their coffers.

Many states (incl Ulta Pradesh) have defined a floor value for VAT, and this is what we are paying. Pay up and do not ask for anything. Kanpur roads are no longer motorable (for a few years), and may soon cease to be even tractorable.

[rahulk2510]

Sorry to be bearer of bad news!

Just received a news alert from my Bloomberg group on whatsapp:

* India considering to raise ecise duty on Diesel by Rs.1.25 per litre and on Petrol by Rs.2 per litre.

*Government estimates excise hike to add Rs.5000 crore to the exchequer.

*Government to decide on Excise Duty hike if crude stays below US $ 50 per barrel.

(Bloomberg/ Newsrise)

How I wish this news is false!

[RSR]

Originally Posted by rahulk2510

* India considering to raise ecise duty on Diesel by Rs.1.25 per litre and on Petrol by Rs.2 per litre.

How I wish this news is false!

One can only keep wishing!

After the supposed "de-regulation" of both petrol & diesel, the vicious oil mafia (consisting primarily of the oil PSU cabal & their common owner i.e. the central government, and secondarily of some/many state governments) has set upon a shameless spree of loot and extortion from petrol users! So I wouldn't be surprised in the least if your bad news turns out to be true.

After diesel was also de-regulated, the difference between petrol and diesel was < ₹ 10 in my city, which is what it should be due to the tax differential.

Of course, the difference has now been deliberately made to rise to ~ ₹ 17 now. Tax differential can explain only about 10 rupees (or even less) at these prices.

The remaining 7 rupees per litre of petrol is nothing but open loot! Shameless extortion of hapless petrol users by the vicious oil mafia!

The utterly unaccountable, extortionist oil mafia looters in this country think they can do as they please, as their stooges in the mainstream media wouldn't dare utter a word against the despicable loot & extortion of petrol users.

There will be a proverbial last straw on the camel's back, after which the vicious oil mafia will get their just desserts!

[sourabhzen]

Originally Posted by RSR

One can only wish!

The utterly unaccountable, vicious, extortionist oil mafia in this country think they can do as they please, as their stooges in the mainstream media wouldn't dare utter a word against the despicable loot & extortion of petrol users.

You are so wrong here. The mafia don't 'think', they 'know' they can do as they please.

I would be very happy if part of the increased taxes were used to improve the road infrastructure and the 'tractorable' (as SGIITK puts it) roads are made motorable.

[sgiitk]

Originally Posted by sourabhzen

I would be very happy if part of the increased taxes were used to improve the road infrastructure and the 'tractorable' (as SGIITK puts it) roads are made motorable.

I doubt it. Gadkari is trying but the contractor supervisor mafia pockets the bulk of the money.

Kanpur roads will soon become only Bullock cartable.

[rahulk2510]

Looks like media posted the above news a little hurriedly. Received clarification as below:

Revenue Secretary says no proposal to hike excise duty on Diesel and Petrol : CNBC TV18

Hope now they don't start thinking on these lines!

[saurabhkum]

Brent crude at 42.65 $ down by more than 6% in today's trade. This is the level of Year 2009.