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Old 2nd September 2018, 21:53   #6346
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Default Re: The Official Fuel Prices Thread

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Originally Posted by volkman10 View Post
Petrol touches record price of Rs 86.25 per litre in Mumbai, diesel at new high.

Diesel too touched a new high of Rs 75.12 per litre. The prices are expected to escalate further.

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Petrol Diesel need to be in GST immediately. This hogwash milking of crude needs to stop. I am in favour of a 5% flat GST rate on all commodities whether sanitary pad or condom or water or milk and then they can charge 28 plus 15 % GST on luxury items like cars and luxury apartment and Petrol diesel. Still the price of petrol diesel would drop down.

Till we dont have CA or genuine well studied babu's and till we dont have educated CA as a finance minister, will have to continue paying ridiculous prices for petrol diesel.

Forgot to add for every country the currency appreciating is a JOY for India we only seem to favour our exporters and wish currency to keep depreciating. Economic secretary saying let it drop to 80 was irresponsible and troubling. Are we not working hard ? why should we pay more for products and services and let exporters make windfall profits ? Disappointing policies.

Last edited by GTO : 3rd September 2018 at 08:24. Reason: STRICTLY no discriminatory comments on Team-BHP (i.e. your line on caste)
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Old 3rd September 2018, 00:15   #6347
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Default Re: The Official Fuel Prices Thread

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Originally Posted by volkman10 View Post
Petrol touches record price of Rs 86.25 per litre in Mumbai, diesel at new high.

Diesel too touched a new high of Rs 75.12 per litre. The prices are expected to escalate further.

Link
And this when crude is at 77 dollars a barrel, I tell you, I am so pissed that next time during elections the EVM machine is going to break at how hard I am going to press the button which does not let these fools come to power again.
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Old 3rd September 2018, 08:27   #6348
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Default Re: The Official Fuel Prices Thread

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Originally Posted by M00M View Post
Petrol Diesel need to be in GST immediately. This hogwash milking of crude needs to stop. I am in favour of a 5% flat GST rate on all commodities whether sanitary pad or condom or water or milk and then they can charge 28 plus 15 % GST on luxury items like cars and luxury apartment and Petrol diesel. Still the price of petrol diesel would drop down.

Till we dont have CA or genuine well studied babu's not some scheduled cast tribe quota people and till we dont have educated CA as a finance minister, will have to continue paying ridiculous prices for petrol diesel.
While I almost completely agree with you , the higher taxes on Petrol/Diesel are actually beneficial for us true minority - the tax payer.
Govt is going to get the money one way or another.
If taxes on fuel (which are paid by everyone directly or indirectly) come down, Govt will increase other taxes like that on Income, Stocks etc which disproportionately affect us.
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Old 3rd September 2018, 08:35   #6349
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Default Re: The Official Fuel Prices Thread

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Originally Posted by timuseravan View Post
Govt is going to get the money one way or another.

Yes, this is one of the most left-wing tax hungry governments I have seen in a long time.

- excise duty on fuel increased some 15 times
- Service tax (now GST) increased from 12.36% to 18%
- Income tax reduction hardly happened in the last 4 years unlike the UPA when it happened regularly

They are going to get us one way or the other. What difference does it make?

Last edited by carboy : 3rd September 2018 at 08:40.
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Old 3rd September 2018, 08:37   #6350
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Default Re: The Official Fuel Prices Thread

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Originally Posted by M00M View Post
This hogwash milking of crude needs to stop
Well said. Everytime the prices are raised, crude is blamed - just because the common man doesn't know crude is at very average levels now.

Petrol is being taxed like alcohol now.
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Old 3rd September 2018, 08:38   #6351
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Default Re: The Official Fuel Prices Thread

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Originally Posted by carboy View Post
Yes, this is one of the most left-wing tax hungry governments I have seen in a long time.

- excise duty on fuel increased some 15 times
- Service tax (now GST) increased from 12.36% to 18%
- Income tax reduction hardly happened in the last 4 years unlike the UPA when it happened regularly

They are going to get us one way or the other. What difference does it make?
And add it to tax on long term capital gains and dividend which is triple taxed now! Dividend comes from profits which are already taxed. This same money is then taxed in name of Dividend Distribution Tax and then again taxed in hands of shareholders.
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Old 3rd September 2018, 08:46   #6352
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Default Re: The Official Fuel Prices Thread

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Originally Posted by CrAzY dRiVeR View Post
Petrol is being taxed like alcohol now.
Well, the similarities are obvious, between alcoholics and petrolheads :
  • Helps take the mind off daily worries and stress
  • Excessive spending on this desire
  • Can be to the detriment of family, who feel they aren't the first love
  • An empty container can cause undue worry
  • Driving and alcohol are both major factors in drunken-driving incidents

(That's just a humorous take, btw, I don't mean to imply any petrolhead is really like this)
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Old 3rd September 2018, 09:47   #6353
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Default Re: The Official Fuel Prices Thread

Rs.82/- odd bucks for petrol in Bangalore, one of the highest rates I've seen anytime, not sure if the rates breached this level before but even today with the levels of inflation we are used to, this hurts.

What a time to own an automatic car as well.. its almost as if we're being punished for trying to move around. With the way the rates of aircon buses, autos, and UBER are pegged at, it still is cheaper to own a car.

I am predicting that the rates may fall in a couple of months, owing to what is coming up next year and I feel that these utterly made-up revisions in the name of taxes, global rates, whatever.. are to hedge the downward revisions to be made in due course as a popularity measure for the same reason. However, I will be impressed if the rates hold on to the same levels till the next 5-6 months.

Even for someone travelling 400 odd kms p.m, these rates have made a visible difference. Assuming a FE of 10, the rates have gone up by about Rs.12 over the past year or year and a half and the difference is nearly Rs.5000/- more for my kind of usage. Scary.
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Old 3rd September 2018, 11:43   #6354
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I wonder what the fuel prices will be once India stops importing oil from Iran. Any views on that?
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Old 3rd September 2018, 12:00   #6355
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Default Re: The Official Fuel Prices Thread

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Originally Posted by dark.knight View Post
Even for someone travelling 400 odd kms p.m, these rates have made a visible difference. Assuming a FE of 10, the rates have gone up by about Rs.12 over the past year or year and a half and the difference is nearly Rs.5000/- more for my kind of usage. Scary.
Major math blooper above and I'm handling finance.. sheesh. The cost rise is about Rs.500-Rs.600 a month, but its the constant rise in prices that hurts.

Its still ok I guess, converting gallons to litres and dollars to rupees, the U.S rate for gasolene is about Rs.46/-.. not too cheap, and given the gas guzzling nature of American cars they may be incurring more cost due to F.E. Indian prices should settle at around the 70 mark, not more.
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Old 3rd September 2018, 13:08   #6356
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Default Re: The Official Fuel Prices Thread

Filled up Diesel @76.97 per litre and started thinking when is the next election date. From last few months the prices have always increased everytime we go for refuel.
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Old 3rd September 2018, 13:09   #6357
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Default Re: The Official Fuel Prices Thread

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Originally Posted by humyum View Post
And this when crude is at 77 dollars a barrel, I tell you, I am so pissed that next time during elections the EVM machine is going to break at how hard I am going to press the button which does not let these fools come to power again.
I want to break the EVM machine too but the opposition in the centre is the ruling Govt. in my state and our CM says he wants to increase tax on fuel as he is falling short of funds for his so called welfare schemes. Heads you win, tails I lose.
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Old 3rd September 2018, 22:09   #6358
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Originally Posted by Santoshbhat View Post
I want to break the EVM machine too but the opposition in the centre is the ruling Govt. in my state and our CM says he wants to increase tax on fuel as he is falling short of funds for his so called welfare schemes. Heads you win, tails I lose.

How is breaking EVM helping us. Just destroys property we paid for.

Truth is all states are spending more and more and earning is less in comparison . Expenses higher than income . Corruption . Bad debts . Poor planning . Whatever it is you can blame .

Fuel is the easiest cash cow . BJP also doing the same by making bumper tax rewards by increasing excise and etc . There has to be some rationalisation somewhere . If you want petrol diesel to cost more ok , but then gst on cars should not be so high .

Or provide proper public transport but that can't be done in one year . Our people go to gulf and make buildings / bridges in a year but in India it takes 5-7 years .

I think this government is loosing face with such a drastic drop in Re value and now petrol diesel prices .

Think a flat rate of GST is only way forward to rationalise fuel prices .
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Old 3rd September 2018, 22:34   #6359
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Default Re: The Official Fuel Prices Thread

For all those complaining about fuel prices:

Crude prices will rise, and so will fuel prices. The shouting will only get louder, but them people will not look at the affordability. Many dont mind spending an easy couple of thousands for a day out at the mall and movies, but will complain about paying another 50-100 at the bunk when they top up.
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Old 4th September 2018, 00:18   #6360
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Default Re: The Official Fuel Prices Thread

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Originally Posted by condor View Post
For all those complaining about fuel prices:

Crude prices will rise, and so will fuel prices. The shouting will only get louder, but them people will not look at the affordability. Many dont mind spending an easy couple of thousands for a day out at the mall and movies, but will complain about paying another 50-100 at the bunk when they top up.
I wouldn't complain about rising fuel prices if the taxes were fixed. Every time crude price falls, the Govt keeps adding all kinds of taxes and excise duty in the name of adjusting against the eventual high crude price but never to see those excise duty and taxes removed later. If they are trying to control the price then it should be in the same ballpark regardless of the international crude price. Or, peg the taxes and excises fixed and let the fuel price go up or down according to the crude price. People are not mad at spending extra 100 rupees, they are mad at the hypocrisy.
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