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Old 4th September 2018, 02:39   #6361
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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.
Going to a mall and movie is a choice for all but filling up fuel is not so. Especially since its linked to a lot of items that we consume. Sorry, thats the wrong choice to make.
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Old 4th September 2018, 06:27   #6362
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Default Re: The Official Fuel Prices Thread

Quote:
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.

The excise duty on fuel was raised 15-20 times since 2014 by the center. Other than that Maharashtra even added a drought cess on fuel.
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Old 4th September 2018, 06:57   #6363
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Originally Posted by M00M View Post
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
You missed the sarcasm in my post. I was only replying to the quoted post where the OP implied that changing the Govt. is the solution to this mess. Whoever is in opposition will milk the situation and criticise the party in power. But when it comes to them, will do nothing about it as they can't forego the revenue it brings.
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Old 4th September 2018, 07:50   #6364
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sabby_4c View Post
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.
You say "every time" but I dont think you have even a decent part of the data to make a claim like that. I dont blame you, but that is the perception that is there generally.

Btw, it takes time to sort things out - like @glenmz says below: it lis linked to many things. It is not as simple as just doing one thing, because the interconnections are many.

Quote:
Originally Posted by glenmz View Post
Going to a mall and movie is a choice for all but filling up fuel is not so. Especially since its linked to a lot of items that we consume. Sorry, thats the wrong choice to make.
It is linked to many things, but if you were to look beyond, even though the fuel price looks high, many things that are dependent on it are under control. Some examples - inflation numbers, Price indices, or even things like your auto or taxi fares.


**

No matter how you guys respond, the prices will increase at least in the near-term and a little beyond. There is still a long way to go before fuel comes under GST after which things can improve.
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Old 4th September 2018, 08:13   #6365
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Default Re: The Official Fuel Prices Thread

Please expect prices of fuel to rise till at least the end of 2018. It could either remain flat or drop a bit through the early parts of 2019. Haven't we been through this before?

Taxes from fuel helps run the country/state. This would not be let go very easily.
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Old 4th September 2018, 08:36   #6366
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Default Re: The Official Fuel Prices Thread

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Originally Posted by swissknife View Post
Taxes from fuel helps run the country/state. This would not be let go very easily.
Sad, but true.

Unfortunately, it would take a systematic and systemic overhaul of how the government generates revenue and (mis)spends it, for things like taxation to be rationalized. Such an exercise will span decades, so no government will be keen to initiate this, since they all live by a 5-year electoral cycle.
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Old 4th September 2018, 09:17   #6367
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Originally Posted by Santoshbhat View Post
You missed the sarcasm in my post. I was only replying to the quoted post where the OP implied that changing the Govt. is the solution to this mess. Whoever is in opposition will milk the situation and criticise the party in power. But when it comes to them, will do nothing about it as they can't forego the revenue it brings.

Yes sorry I did. But completely agree with your post. Each government complains but does nothing to rectify. BJP got GST but won't have petrol diesel in it . Half hearted attempt.
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Old 4th September 2018, 09:59   #6368
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Default Re: The Official Fuel Prices Thread

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Originally Posted by swissknife View Post
Please expect prices of fuel to rise till at least the end of 2018. It could either remain flat or drop a bit through the early parts of 2019. Haven't we been through this before?

Taxes from fuel helps run the country/state. This would not be let go very easily.
+1.

Sadly enough this is true. And it will remain the same irrespective of the party/government at the centre. In the past, different states have had different ruling parties and yet, no one has made any 'significant' reduction in the state taxes on the fuel to 'help' the common man. The centre is no different.

On a similar note, OEMs increase car prices, giving reasons as increasing rubber, steel prices, rising exchange rates and what not. Have we ever tracked these commodity prices or currency rates and checked if they ever fall. I hope they must be falling at times. And yet, the car prices never fall once hiked. I need to dig some more on this.
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Old 4th September 2018, 10:19   #6369
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Default Re: The Official Fuel Prices Thread

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Originally Posted by ashis89 View Post
+1.

It will remain the same irrespective of the party/government at the centre. In the past, different states have had different ruling parties and yet, no one has made any 'significant' reduction in the state taxes on the fuel to 'help' the common man. The centre is no different.

On a similar note, OEMs increase car prices, giving reasons as increasing rubber, steel prices, rising exchange rates and what not. I hope they must be falling at times. And yet, the car prices never fall once hiked.

To be fair, when GST was first introduced, we did see cars on road prices fall, till the empire struck back with special cesses, 'green' taxes, surcharges and other levies. GST was sold to us as "one nation, one tax'. But it never was that. Thats a big chunk of the car price rise along with the global comodity cycle turning.


The solution does not lie in complaining to 'powers that be' or comparing it to something else, but by changing the 'disha' to a lean, mean government that is not a huge burden on the country's economy. PVNR govt did so in 90's, but none of the subsequent ones - they've been busy expanding their raaj paats.
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Old 4th September 2018, 12:44   #6370
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Default Re: The Official Fuel Prices Thread

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Originally Posted by condor View Post
No matter how you guys respond, the prices will increase at least in the near-term and a little beyond. There is still a long way to go before fuel comes under GST after which things can improve.
That is correct. I think by year end GST for Fuel will be put in place and suddenly the prices will fall.
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Old 4th September 2018, 13:09   #6371
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Originally Posted by vennarbank View Post
That is correct. I think by year end GST for Fuel will be put in place and suddenly the prices will fall.
I doubt it very much that fuel would come under GST, alone, unless it is fixed at some rate over the current max slab rate. One must take into consideration that there are a few major revenue generators for State Governments. These include Fuel, Road Tax, Taxes on alcohol. Taking any of these away from the state's revenue would upset the funding for the states. This would be asked to be made good by the central government, which I don't think would happen.
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Old 4th September 2018, 13:19   #6372
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Default Re: The Official Fuel Prices Thread

On a lighter note, new travelogues seem to have all but dried up in the last 15 days. Fuel price effect?
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Old 4th September 2018, 13:32   #6373
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Default Re: The Official Fuel Prices Thread

Sanctions on Iran will make situations even worse, Trump seems reluctant not to let any country have an exception on oil import. Worse is yet to come, three digit prices seem an imminent reality - wish I could hedge some money there
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Old 4th September 2018, 13:48   #6374
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Default Re: The Official Fuel Prices Thread

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Originally Posted by dean5545 View Post
I wonder what the fuel prices will be once India stops importing oil from Iran. Any views on that?

Well, as of today, Iran's oil exports have slowed down considerably. India and China are still playing hardball, but I expect India to succumb soon. That should send pump prices up further. Hope we are not seeing an unfolding of our domestic version of oil price shock of 1991. That could land us right back where we were pre PVN government nursing the economy back to health.



https://deccanchronicle.com/nation/c...-pressure.html
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Old 4th September 2018, 21:34   #6375
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Default Re: The Official Fuel Prices Thread

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Originally Posted by condor View Post
You say "every time" but I dont think you have even a decent part of the data to make a claim like that. I dont blame you, but that is the perception that is there generally.

Btw, it takes time to sort things out - like @glenmz says below: it lis linked to many things. It is not as simple as just doing one thing, because the interconnections are many.

It is linked to many things, but if you were to look beyond, even though the fuel price looks high, many things that are dependent on it are under control. Some examples - inflation numbers, Price indices, or even things like your auto or taxi fares.
Let me clear a couple of things first -
1. When I said every time, I don't mean the daily price drops, I meant over a period of time large falls of crude price. If you see international fuel price charts over let's say 10-15 years, you'll say many times the crude price has gone very low as well as very high. And for me to to have "a decent part of data", go back a few years ago when crude price was 120$ and still fuel was cheaper than it is today. If you keep the same taxes/excise as of today and apply the 50% higher crude price, you can calculate the price of fuel at the pumps - the numbers don't lie.

2. I realize a few of the people here maybe leaned to some political bias on this side or that, but when I said "Govt add taxes/excise", I didn't mean just the current Govt. There's hardly much difference in which party controls the Govt when all of their first priority is not using funds gathered from taxes to make the country and people's lives better.

Btw, I do not know where you live but I have noticed significant increase in taxi fares in two metro cities over the last 1 year.
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