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Old 14th March 2020, 16:46   #6766
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Default Re: The Official Fuel Prices Thread

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Originally Posted by sgiitk View Post
I do not think any of us remember when fuel prices were cut due to crude prices rising. We tend to forget these.

The main reason we forget is because for every 5 Rs of tax that's increased when crude is on the way down, only Rs 1 is decreased when crude is on the way up. I had actually kept track.

Last edited by carboy : 14th March 2020 at 16:52.
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Old 14th March 2020, 19:32   #6767
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Default Re: The Official Fuel Prices Thread

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Originally Posted by OrangeCar View Post
Its so disappointing.. no respite in any way to commoner, even if he could benefit with something outside of govt. control.

Sad part is, crude oil prices will go up, but govt. will not reduce taxes then. It will conveniently point to raising prices and will ignore these hikes. Or worse still, reduce these hikes and call it people friendly measures (just when elections are around).

“Minimum government, minimum governance, maximum tax.” Seems to be the motto of this government.

Apologies for the rant like post!
In yesterday's Trump speech he announced that USA is buying oil at low rates and saving for their country's benefit. That is the difference between a government which acts in favour of their citizens and ours which does not.
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Old 14th March 2020, 19:36   #6768
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In yesterday's Trump speech he announced that USA is buying oil at low rates and saving for their country's benefit. That is the difference between a government which acts in favour of their citizens and ours which does not.

US petrol prices aren't controlled by the Govt. It's a free market unlike ours where Govt manipulates prices by both setting the price (through the Oil PSUs) and also by changing tax on fuel.
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Old 14th March 2020, 19:58   #6769
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Default Re: The Official Fuel Prices Thread

For a change I am with the Govt this time. I think the country is staring at a huge economic disturbance, slowing economy and corona virus impact cannot be taken lightly. The Govt needs all the support at this time to have reserves to tide over the crises.
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Old 15th March 2020, 10:19   #6770
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Somebody has mentioned herein few days back what is stopping gov from raising electricity rates, well once EV adoption is widespread and massive pressure on electricity I think electricity prices will go up and we will eventually pay the same rate as we pay for petrol just that our sky will have less pollution.
I doubt the sky would be clearer either. It is quite clear that in a country like ours where the bulk of the electricity is generated by coal, the apparent reduction in pollution levels may not be true, atleast nationally.
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Old 15th March 2020, 12:13   #6771
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Default Re: The Official Fuel Prices Thread

Sorry we are to blame for our sorry state, when we were not given what was promised in the earlier 5 years, we still got the thief to mug us more, what more can you expect?

The petrol price should have been in the 50's now and diesel less than 50, where are we now?

Last edited by vb-san : 16th March 2020 at 06:23. Reason: Please avoid political discussion, even if indirect. Thank you!
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Old 15th March 2020, 12:43   #6772
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Quote:
Originally Posted by humyum View Post
Sorry we are to blame for our sorry state, when we were not given what was promised in the earlier 5 years, we still got the thief to mug us more, what more can you expect?

The petrol price should have been in the 50's now and diesel less than 50, where are we now?
What we need is both to be entered into GST so that there is a fixed rationalisation of both but now who will bell this cow and when and what about the extra milking etc etc etc are questions we don't have answers to. Sadly.

Last edited by vb-san : 16th March 2020 at 09:16. Reason: Quoted post edited, and related response removed
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Old 16th March 2020, 02:25   #6773
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Default Re: The Official Fuel Prices Thread

I am sharing this image to give an idea of fuel price variation in a completely deregulated Australian market (in true sense). Prices in cents per liter of Octane rating 98 fuel.
Attached Thumbnails
The Official Fuel Prices Thread-fuel.jpg  


Last edited by MaxTorque : 16th March 2020 at 02:29.
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Old 24th March 2020, 12:32   #6774
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Default Re: The Official Fuel Prices Thread

Excise duty on fuels to go up by Rs 8 per litre to fund Covid-19 fight

The decision comes only days after the government announced a hike of Rs 3 on excise duty on fuels.


Link
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Old 24th March 2020, 13:01   #6775
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Default Re: The Official Fuel Prices Thread

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Excise duty on fuels to go up by Rs 8 per litre to fund Covid-19 fight]
Unless I am mistaken, Parliament has passed the amendment giving enabling powers to raise the ED by ₹8/litre. Whether GoI will exercise the right to immediately hike it by ₹8 or less (in stages) remains to be seen.
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Old 1st April 2020, 16:55   #6776
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Default Re: The Official Fuel Prices Thread

I wish there was more transparency in how fuel prices are 'fixed'. 15 days straight with no change in the 'daily price' revision. I mean how delicately is the USD-INR ratio poised vis-a-vis up and down in crude rates? Not even a paisa change? Don't mind the government making extra bucks to shore up lost tax revenue and fight SARS-CoV-19 but just come out and say it!
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Old 1st April 2020, 19:10   #6777
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Default Re: The Official Fuel Prices Thread

The is a cut of LPG prices of Rs.54 per cylinder. So things are moving. With Ramnavmi tomorrow, any changes will be only after a couple of days at the minimum. The markets are all over the place, so not much can be made into it, since the currency moves in the opposite direction.
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Old 1st April 2020, 23:47   #6778
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Default Re: The Official Fuel Prices Thread

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Originally Posted by PGA View Post
For a change I am with the Govt this time. I think the country is staring at a huge economic disturbance, slowing economy and corona virus impact cannot be taken lightly. The Govt needs all the support at this time to have reserves to tide over the crises.
Most of the fuel sold right now are used by essentials logistics, to move healthcare workers, police and emergency movement. Not much tax would be collected till lock down is over as fuel sales figure would probably be <5% of usual.
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Old 2nd April 2020, 00:03   #6779
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Default Re: The Official Fuel Prices Thread

It's consumption based taxes, so actual collections may be challenging given demand may not go back to pre-COVID levels quickly.
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Old 2nd April 2020, 17:48   #6780
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Default Re: The Official Fuel Prices Thread

There's a news in The Hindu which says that BSVI petrol is now available in metros & is priced higher by about Rs. 4 per litre. Similar mark up for diesel also. Petrol which came down to Rs. 70 is now Rs. 74.
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