[drmohitg]

Originally Posted by krishnakarthik1

How would it be if Mukesh Ambani did a Jio with Reliance Petroleum?

Haha that is a very interesting thought, even if its only for humor. I cannot imagine the fuel bunk queues if such a thing happens.

[condor]

Originally Posted by Ragavsr

1. The Iran payments were held in Indian banks without exposure to the USA. Its not like they were trying to do any creative accounting.

Iran was under sanctions, and crude oil was imported as per prevailing international / UN agreements. Payments were also to be made at the same time. Payments were later done in INR after 2014.

Originally Posted by discoverwild

Can you share the link for this information?

Let me check - was from news items

Originally Posted by krishnakarthik1

How would it be if Mukesh Ambani did a Jio with Reliance Petroleum?

What would that be ?

[GeneralJazz]

Originally Posted by krishnakarthik1

How would it be if Mukesh Ambani did a Jio with Reliance Petroleum?

They already are/were (kind of). There's a Reliance petrol pump opposite CSEZ that was selling petrol for Rs.1 less than the rate at other pumps. They had a huge advertisement board for it too. 1 Rs less than other pumps, from 10 AM to 5PM or something. Don't know if that offer is still there.

[sandeepmohan]

First it was sachet pickle, then shampoo, engine oil and we shall soon see fuel too.

[embee]

This information came in Times of India on 22-May-2018

WHY ARE GLOBAL CRUDE OIL PRICES ON A RISE?

Production cuts by oil exporters, shrinking supplies from Venezuela and uncertainty over Iran’s contribution after U.S. decision to exit the nuclear deal + have contributed to rise in crude prices.

However, there is a catch. The government might be blaming crude prices for record high petrol and diesel rates, but the last time petrol crossed 76 per litre, five years ago, it was 40 per cent costlier before taxes.

Fuel prices have shot up now because of very high taxes. Central tax on diesel has increased more than three-fold, and it has doubled in case of petrol. In 2016-17, the Centre earned 2.7 lakh crore from taxes and duties on petroleum products, which is 117 per cent higher than the 1.3 lakh crore it earned in 2014-15, when NDA came to power.



Taxes account for half of the price we pay for petrol and diesel. Here is a break up of taxes imposed on fuel:




WHAT IS THE BOTTOM LINE?

Most fuel taxes are as percentage of price which means government’s tax earning goes up as price increases. The central government raised excise duty nine times between November 2014 and January 2016+ while it cut the tax just once in October last year.

The bottomline thus is, Centre does not have to take a hit on revenue, it just has to be okay with not earning more with every hike. If not, then the next relief may be six months away when the next round of elections is due.

Source: https://timesofindia.indiatimes.com/...t/64269415.cms

[embee]

Originally Posted by krishnakarthik1

How would it be if Mukesh Ambani did a Jio with Reliance Petroleum?

Great thought! Hypothetically saying, it can create a major rioting problem.

[vdi]

Originally Posted by GeneralJazz

They already are/were (kind of). There's a Reliance petrol pump opposite CSEZ that was selling petrol for Rs.1 less than the rate at other pumps. They had a huge advertisement board for it too. 1 Rs less than other pumps, from 10 AM to 5PM or something. Don't know if that offer is still there.

This was at SEZ Kakkanad, Cochin and the offer is not available anymore.

[embee]

Times of India

[revvharder]

Originally Posted by embee

Attachment 1764183
Times of India

It is really true. Thank God within time we shifted from diesel to CNG it is really cheap to run I can today compare the running of the bike with car and the car is cheaper to maintain . Considering the running.

[ptaneja]

Originally Posted by revvharder

It is really true. Thank God within time we shifted from diesel to CNG it is really cheap to run I can today compare the running of the bike with car and the car is cheaper to maintain . Considering the running.

but do we have any hatchback automatic transmission with CNG?

[humyum]

Originally Posted by condor

@humyun, have you checked these numbers:

Attachment 1763642

I didnt understand the equivalent price in the sheet. For the middle years where crude was very high, the retail prices were still subsidized. This must be seen as an aberration. The prices now being quite deregulated, the retail prices look on par with international crude prices.

On another note, during 5-6 years upto 2013-14, payments for oil imported from Iran was not paid for. If we consider this, then this is a double whammy - artificially maintained prices, and not paying for it either.

IMHO, considering the numbers in this sheet, where international crude prices, dollar rate, inflation rate are all taken into consideration, the retail prices are on par with international prices today.
Did you check the posts on previous page ?

Taxes on Petrol - 2013 vs now



Taxes on Diesel - 2013 to now



About the money to Iran, the money was not paid because of sanctions, not because the government did not want to, so if fuel was brought, money earned from it, but not paid, the money should not vanish right? It would have been saved somewhere for it to be paid when the refineries could, the government's argument that it is paying debt to Iran and hence high prices is absolutely right, it makes no sense too.

This government makes it sound like the country was not running at all, had no schemes, had no roads being built, we were living in stone age before 2014 and now with all the taxes on fuel is what is making India progress, total goli!

[revvharder]

Originally Posted by ptaneja

but do we have any hatchback automatic transmission with CNG?

Well with my limited knowledge I can only recommend you Brio cvt, Baleno cvt and at last i10 AT and you can get cng fitted from outside. ours is a WagonR MT which constantly delivers upwards of 20km/kg and even in winters it delivers around 30km/kg.

[lurker]

Global Oil prices plunge.

https://www.cnbc.com/2018/05/25/oil-...tput-caps.html

US crude plunges 4%, settling at $67.88, as OPEC and Russia consider easing output caps
Oil prices dropped by more than $3 a barrel on Friday, falling further from recent 3½-year highs and putting the futures on pace for a weekly loss.

[sgiitk]

Yesterday, I went and bought some Diesel (for my Genset). The price was marginally below INR69. I was expecting 70 plus.

[sukiwa]

Filled petrol in bike today at rate of Rs. 86.02 ; adds to monday morning blues.