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Old 29th May 2018, 18:16   #6301
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by AutoNoob View Post
In the calculation, I used two set of kms to indicate different levels of usage as per individuals' requirements (as not everyone covers 60kms or 100kms per day). It was not my intention to imply that a person reduces the distance travelled by such an amount.

e.g. Person A commuting to longer distances and Person B commuting to smaller distances. Both sets of km/day represent the impact due to increased prices (as of today w.r.t. 2013 base) for both Person A & B.
But that IMHO is not the right way to calculate.
On one side you are keeping higher KMs running per day & on the other side you are keeping lower KMs running.

At least KMs per person across different timelines shall be kept same to show the effect. By reducing the KMs it's not a fair calculation.

Obviously in your calculations, despite all the Tax increase etc, you've shown that the people are much better off & there's no burden. But that's not the case.

One tankfull which used to cost me 3000 INR now costs 4000 INR. How am I better off?

Maybe I reduce my Daily KMs running but that doesn't reduce my PRICE/KM.

What we need to see is the PRICE per KM that an individual is paying. Monthly expenditure is simply Total Number of KMs * Price/KM.
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Old 29th May 2018, 18:28   #6302
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Default Re: The Official Fuel Prices Thread

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Originally Posted by volkman10 View Post
justifying the hike , statement from Minister,
Subsidising petrol, diesel will be at the cost of welfare schemes....SNIP.....
if petrol and diesel are subsidised, ďall the money from our social security schemes will vanish
And now how do I believe that the same minister has honest intentions of making India a fully EV nation by 2030?

I filled 12.85 ltrs @77.80/- for Rs. 1000/- yesterday. Not too long ago, I was getting 15-16 ltrs for the same price. Not factoring the cascading effects, this itself is pinching my pocket hard. Given the state of public transport (which is actually 'almost' absent here in tier 2 cities), I cannot even think of using one. I don't want to be the guy sitting on the right (umm...wrong) side of the autorickshaw driver, saying my prayers everytime I see oncoming traffic. Even at Rs. 80/- or Rs 100/- per litre, I think my limbs are more important. But does that mean I have to be a dacoity victim?

I get all the concepts of Govt's social security schemes, but do they want us to be beneficiaries of the same soon?
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Old 29th May 2018, 18:31   #6303
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Default Re: The Official Fuel Prices Thread

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Originally Posted by humyum View Post
At this rate we should be okay to pay 100 rupees to a cop as a bribe too to a cop who caught us speeding because it's just 100 rupees.
No comments on this. Such discussion is not going to lead anywhere.
Quote:
Did the government not deregulate diesel so that they could match the fuel price to the international crude price? What's the point of this exercise
100% Agreed. Infact that was the promise made when the global crude prices were low. But now Government is not coming true on that.
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In the hunger to meet the fiscal deficit target from a destroyed economy, fuel is their main source of income to thug and to shine their report cards, they need to loot us.
Strong worded statement!! Being in automotive industry, and also looking at overall sales (not just % growth over last year), I have my doubts on economy being in destroyed state. It has been amply seen in past, that when personal finances are in distress or there is fear of economy going bust, automotive sector is one of the first hit. However, our sector is going northwards. Even sales of commercial vehicles are going up. So, I have optimism in the current state of economy.
Quote:
India was progressing before when taxes on fuel were low, India will progress in the future too, it just needs the right driver!
Yes. Definitely. But as it happens in everyone's life, with limited resources, focus can be on few areas (subsidy, low taxes etc.) at the cost of other (deficit, infrastructure etc.). For even growth in all sectors, high resources (financial or otherwise) are required. But our country is not that fortunate.

Quote:
Originally Posted by catchdoon View Post
But that IMHO is not the right way to calculate... On one side you are keeping higher KMs running per day & on the other side you are keeping lower KMs running...
Sir, I am sorry for the confusion due to layout of calculations in Excel. Actually in both cases the timeline is same (i.e. as of May 2018). It's just the alignment of columns in Excel that is giving impression of the kms/day being on different timelines. If it was the case, as you mentioned, it would have been a very basic error. If you check the calculation, the Daily Impact in both cases, is calculated based on price increase w.r.t. base (2013).

Last edited by AutoNoob : 29th May 2018 at 18:44. Reason: added reply to catchdoon's post
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Old 29th May 2018, 20:15   #6304
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Default Re: The Official Fuel Prices Thread

It is perfectly normal to be more worried about the fiscal deficit of the country than one's own well being. I would love to donate more to reduce the fiscal deficit if my income was increasing. But the reality is salaries has remained almost stagnant lately, but my tax burden keeps on increasing. Those who think that they should pay more taxes to reduce fiscal deficit should voluntarily pay more so that the burden on poor souls like me is reduced.

Seriously, you can pay more. Just pay an advance tax and not claim back when you file your returns. Try that.
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Old 30th May 2018, 07:53   #6305
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Default Re: The Official Fuel Prices Thread

Saw in the today morning's CNBC news flash that diesel and petrol prices have been dropped by 53p. A very small drop I must say considering that there has been a $4 drop in the international crude price.

Its not there on any websites though
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Old 30th May 2018, 08:40   #6306
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Default Re: The Official Fuel Prices Thread

Petrol prices were slashed by 59 paise in Mumbai and 60 paise in Delhi today. Meanwhile, Diesel prices went down by 59 paise in Mumbai and 56 paise in the national capital.

Source
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Old 30th May 2018, 10:45   #6307
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Quote:
Originally Posted by MaxTorque View Post
Petrol prices were slashed by 59 paise in Mumbai and 60 paise in Delhi today. Meanwhile, Diesel prices went down by 59 paise in Mumbai and 56 paise in the national capital.

Source
Yeah. It's still less given that crude has come down from 80+USD to 74USD
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Old 30th May 2018, 10:58   #6308
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Default Re: The Official Fuel Prices Thread

Looking at many of the comments in the thread, one would conclude that like petrol prices be based on price of crude, then similarly, highway construction should be only on toll collected, road construction on road tax, and similarly, everything in the country be based on the revenue / income of that specific and individual thing. So if that's the case, should we have an army ? Or a government ? And what about the forests ? And why should farmers get more or not get more than what they are getting ? Each to it's own ? Everything dis-connected ?
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Old 30th May 2018, 11:11   #6309
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by MaxTorque View Post
Petrol prices were slashed by 59 paise in Mumbai and 60 paise in Delhi today. Meanwhile, Diesel prices went down by 59 paise in Mumbai and 56 paise in the national capital.

Source
The source news has been updated it seems. What was touted as a 60 paisa cut is actually just 1 Paisa cut !

Yup, you read it right, just ONE PAISA cut !
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Old 30th May 2018, 11:17   #6310
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Vitalstatistiks View Post
The source news has been updated it seems. What was touted as a 60 paisa cut is actually just 1 Paisa cut !

Yup, you read it right, just ONE PAISA cut !
True. Why should they even reduce 1 Paisa?



Source
Attached Thumbnails
The Official Fuel Prices Thread-fuel.png  

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Old 30th May 2018, 11:21   #6311
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Vitalstatistiks View Post
Yup, you read it right, just ONE PAISA cut !
https://www.iocl.com/Products/Gasoline.aspx

The Official Fuel Prices Thread-fuelpricesslashed.png

Indeed, we have 1 paisa cut. Rejoice!
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Old 30th May 2018, 12:00   #6312
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Default Re: The Official Fuel Prices Thread

this is a sarkari kick to the balls of aam admi, but there seem to be no protests or outrage behind this scam.

I do not think they have ever increased prices by 1 paise, it is always above 10 paise when it comes to increase so that maximum margins can be sucked out.
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Old 30th May 2018, 14:39   #6313
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by AutoNoob View Post
I did some off-the-hand calculations to estimate the impact on we people due to higher taxation as compared to Sep-Oct 2013 levels. This is based on my understanding and there would be many scenarios that I may not have covered. Below are the results :...
What you have essentially shown is a workaround to beat the increase in fuel prices, where I compromise some aspects of my life so the Government doesn't have to let go off the money that they are, as it is, earning surplus.


This solution would make sense and would be apt if crude oil prices were all time high, Which is not the case.

The point is Government can afford to reduce taxes but are reluctant to let got of a rich source of income.

They taxed us heavy when crude was at an all time low, and it was the right time, now is the time to give the public some relief and it seems the tax cuts are being held off for some reason, I dare say National Elections 2019.



Quote:
Originally Posted by AutoNoob View Post

Strong worded statement!! Being in automotive industry, and also looking at overall sales (not just % growth over last year), I have my doubts on economy being in destroyed state. It has been amply seen in past, that when personal finances are in distress or there is fear of economy going bust, automotive sector is one of the first hit. However, our sector is going northwards. Even sales of commercial vehicles are going up. So, I have optimism in the current state of economy.
Demonetization and GST (implementation) have both slowed down small business to an extent, but agreed that destroyed economy is an overstatement , not yet at least.


Quote:
Originally Posted by condor View Post
Looking at many of the comments in the thread, one would conclude that like petrol prices be based on price of crude, then similarly, highway construction should be only on toll collected, road construction on road tax, and similarly, everything in the country be based on the revenue / income of that specific and individual thing. So if that's the case, should we have an army ? Or a government ? And what about the forests ? And why should farmers get more or not get more than what they are getting ? Each to it's own ? Everything dis-connected ?
how does this argument hold?

We are currently paying very high taxes on fuel, None of the people on the thread have suggested to sell fuel at bare minimum prices, People are only expecting a small respite and that too after paying a premium when fuel was extremely cheap. What is wrong in that expectation?



- Slick

Last edited by Slick : 30th May 2018 at 14:58.
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Old 30th May 2018, 14:50   #6314
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Default Re: The Official Fuel Prices Thread

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Originally Posted by ghodlur View Post
Saw in the today morning's CNBC news flash that diesel and petrol prices have been dropped by 53p. A very small drop I must say considering that there has been a $4 drop in the international crude price.

Its not there on any websites though
Only 1paisa cut as per NDTV news!
https://www.ndtv.com/business/some-r...home-topscroll
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Old 30th May 2018, 15:19   #6315
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Default Re: The Official Fuel Prices Thread

As they say, Saudi Arabia and India earn most of their revenue from oil.
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