The Official Fuel Prices Thread

lurker · 13th May 2020, 08:00

So India's deregulated fuel price scam is lying bare for all to see. There was no meaning in this fuel derugalation business in the first place.

India with significant financial disabilities and revenue deficit should never have ventured into decontrolling fuel prices.

Only entity that so-called fuel price decontrol has helped is the central and state govts that have fixed tax rate which keeps increasing with every increase. So where earlier fuel price used to be changed every fortnight and every month, nowadays it is changed every day thereby accruing more money into govt kitty as tax with every small daily increase.

To force India to reform what is urgently required is to stop the govt from taking recourse to such lazy taxes by consumers sharply dropping fuel consumption and shifting massively to electric/hybrid/fuel cell cars. Only such a radical move can force the govt to reform GST/taxes/ease of business/labour reforms/land reforms.

Otherwise both central and state govt will continue to milk the easy fuel taxes and do nothing meaningful.

Both central & state govts know that reforms have to be kickstarted but they need that fuel shock to get out of inertia.

rjainv · 13th May 2020, 08:14

Quote:

Originally Posted by lurker

To force India to reform what is urgently required is to stop the govt from taking recourse to such lazy taxes by consumers sharply dropping fuel consumption and shifting massively to electric/hybrid/fuel cell cars. Only such a radical move can force the govt to reform GST/taxes/ease of business/labour reforms/land reforms.

Govt's goal is tax collection, the source doesn't matter. Fuel consumption drops, they'll just increase the tax on its substitute.

lurker · 13th May 2020, 10:54

Quote:

Originally Posted by rjainv

Govt's goal is tax collection, the source doesn't matter. Fuel consumption drops, they'll just increase the tax on its substitute.

there is no other easy substitute !

lapis_lazuli · 13th May 2020, 13:12

Quote:

Originally Posted by lurker

there is no other easy substitute !

YOU are the easiest substitute, sir! The 4% or so....!

pd_scorpio · 26th May 2020, 07:11

The fuel price in Gujarat is per below. Hope it remains under 70/-.

Date: 26/05/2019
City : Gandhinagar(GUJ)
Petrol : 67.05/-
Diesel : 65.38/-

Bibendum90949 · 28th May 2020, 20:27

Rs.5 hike on fuel is on the cards.

https://www.livemint.com/news/india/...656370612.html

TusharK · 9th June 2020, 10:36

Petrol & Diesel prices hiked two days in a row

Fuel prices have gone up for the second day in a row. Petrol and diesel prices were hiked by Rs. 0.60 per litre on Sunday. On Monday too, fuel prices went up by Rs. 0.60 per litre.

The Official Fuel Prices Thread-untitled11583805497.jpg

On March 14, 2020, the government had hiked excise duty on petrol and diesel by Rs. 3 per litre. Following this, the oil companies had put daily price revisions on hold. Also, the tax hike was not passed on to the consumers.

The hike in excise duty was offset against the decline in international crude oil prices that hit a 2 decade low in April this year. The cost of an upgrade to BS6-grade fuel (Rs. 1 per litre) was also adjusted.

In addition to the excise duty, the hike in VAT by state governments has also been passed onto the consumers.

Source

Link to Team-BHP News

shabeermohamed · 9th June 2020, 12:26

This is really unfair to the people. When the prices dropped, the excise duty was hiked by a huge margins. At least they could've shielded any further increase for the next couple of years considering the huge margin/ revenue increase they have amassed.
This will put the vehicle owners as well as the general public in distress considering the cascading effect fuel price has on inflation and prices or essential commodities..!

Nikhildrao · 9th June 2020, 16:44

You know..... That Nexon EV looks real enticing right now

Nalin1 · 9th June 2020, 18:20

This will get some litres of blood boiling 😡-

https://www.deccanherald.com/busines...es-847292.html

Quote:

With the steep hike in excise duty in the past two months, an average consumer of petrol now pays over 275% in taxes to centre and states on a litre of the fuel.

PrideRed · 9th June 2020, 18:21

On the contrary I am least bothered about fuel prices right now. My cars have run less than 100KM last month

Damn I have forgotten the fuel station experience and that smell of petrol/diesel.

sunilch · 9th June 2020, 18:26

Quote:

Originally Posted by Nikhildrao

You know..... That Nexon EV looks real enticing right now

Haha, that is another fallacy that we are living in. EVs are cheaper only for the moment.

As soon as sales pickup, taxes on all related components/items will be quadrupled. Be it any imported components needed for the EVs or be it the electricity. Even the taxes, which are currently ZERO in many states, will shoot up immediately.

In-fact I am skeptical of these EVs. My electricity bills will be the collateral damage here :(

ValarMorghulis · 9th June 2020, 18:35

Quote:

Originally Posted by sunilch

Haha, that is another fallacy that we are living in. EVs are cheaper only for the moment.

As soon as sales pickup, taxes on all related components/items will be quadrupled. Be it any imported components needed for the EVs or be it the electricity. Even the taxes, which are currently ZERO in many states, will shoot up immediately.

In-fact I am skeptical of these EVs. My electricity bills will be the collateral damage here :(

Well I would support the govt. there! With 72% electricity generated from coal plants in India, EVs are more harmful than the conventional cars.
If and when we move to 70% electricity generated through nuclear power plants, the EVs in mass market numbers would make sense. Till then one is merely shifting one's carbon footprint.

sunilch · 9th June 2020, 18:45

Quote:

Originally Posted by ValarMorghulis

Well I would support the govt. there! With 72% electricity generated from coal plants in India, EVs are more harmful than the conventional cars.
If and when we move to 70% electricity generated through nuclear power plants, the EVs in mass market numbers would make sense. Till then one is merely shifting one's carbon footprint.

Yes. The EVs don't actually solve any pollution problem to be honest.
They only shift the pollution from one place to another.

ABHI_1512 · 9th June 2020, 19:46

Deregulation of fuel prices is the biggest joke played on this country ever, period. If somebody can explain the rationale behind the price hikes then that would seriously take a very exceptional level of deception to do that !! The way I see it, the petroleum products are the cash cows to milch as and when required. The only reason petroleum and alcohol is not under GST is that no one wants to let go of the cash cows.

13th May 2020, 08:00	#6826
lurker Senior - BHPian Join Date: Jun 2006 Location: Tura Posts: 1,592 Thanked: 1,423 Times	Re: The Official Fuel Prices Thread So India's deregulated fuel price scam is lying bare for all to see. There was no meaning in this fuel derugalation business in the first place. India with significant financial disabilities and revenue deficit should never have ventured into decontrolling fuel prices. Only entity that so-called fuel price decontrol has helped is the central and state govts that have fixed tax rate which keeps increasing with every increase. So where earlier fuel price used to be changed every fortnight and every month, nowadays it is changed every day thereby accruing more money into govt kitty as tax with every small daily increase. To force India to reform what is urgently required is to stop the govt from taking recourse to such lazy taxes by consumers sharply dropping fuel consumption and shifting massively to electric/hybrid/fuel cell cars. Only such a radical move can force the govt to reform GST/taxes/ease of business/labour reforms/land reforms. Otherwise both central and state govt will continue to milk the easy fuel taxes and do nothing meaningful. Both central & state govts know that reforms have to be kickstarted but they need that fuel shock to get out of inertia.
	(2) Thanks

26th May 2020, 07:11	#6830
pd_scorpio BANNED Join Date: Oct 2019 Location: Gandhinagar Posts: 46 Thanked: 191 Times	Re: The Official Fuel Prices Thread The fuel price in Gujarat is per below. Hope it remains under 70/-. Date: 26/05/2019 City : Gandhinagar(GUJ) Petrol : 67.05/- Diesel : 65.38/-
	() Thanks

28th May 2020, 20:27	#6831
Bibendum90949 Senior - BHPian Join Date: Mar 2020 Location: Blr/Kochi/Wynd Posts: 1,421 Thanked: 6,904 Times	Re: The Official Fuel Prices Thread Rs.5 hike on fuel is on the cards. https://www.livemint.com/news/india/...656370612.html
	() Thanks

9th June 2020, 10:36	#6832
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,272 Thanked: 55,851 Times	Re: The Official Fuel Prices Thread Petrol & Diesel prices hiked two days in a row Fuel prices have gone up for the second day in a row. Petrol and diesel prices were hiked by Rs. 0.60 per litre on Sunday. On Monday too, fuel prices went up by Rs. 0.60 per litre. On March 14, 2020, the government had hiked excise duty on petrol and diesel by Rs. 3 per litre. Following this, the oil companies had put daily price revisions on hold. Also, the tax hike was not passed on to the consumers. The hike in excise duty was offset against the decline in international crude oil prices that hit a 2 decade low in April this year. The cost of an upgrade to BS6-grade fuel (Rs. 1 per litre) was also adjusted. In addition to the excise duty, the hike in VAT by state governments has also been passed onto the consumers. Source Link to Team-BHP News
	(5) Thanks

9th June 2020, 12:26	#6833
shabeermohamed BHPian Join Date: Apr 2020 Location: Bangalore Posts: 64 Thanked: 57 Times	Re: The Official Fuel Prices Thread This is really unfair to the people. When the prices dropped, the excise duty was hiked by a huge margins. At least they could've shielded any further increase for the next couple of years considering the huge margin/ revenue increase they have amassed. This will put the vehicle owners as well as the general public in distress considering the cascading effect fuel price has on inflation and prices or essential commodities..!
	(8) Thanks

9th June 2020, 16:44	#6834
Nikhildrao BHPian Join Date: May 2020 Location: Bangalore Posts: 190 Thanked: 828 Times	Re: The Official Fuel Prices Thread You know..... That Nexon EV looks real enticing right now
	(1) Thanks

9th June 2020, 18:21	#6836
PrideRed Senior - BHPian Join Date: May 2012 Location: BLR/PTR Posts: 3,282 Thanked: 9,680 Times	Re: The Official Fuel Prices Thread On the contrary I am least bothered about fuel prices right now. My cars have run less than 100KM last month Damn I have forgotten the fuel station experience and that smell of petrol/diesel. Last edited by PrideRed : 9th June 2020 at 18:22.
	() Thanks

9th June 2020, 19:46	#6840
ABHI_1512 Distinguished - BHPian Join Date: Feb 2020 Location: Calcutta Posts: 944 Thanked: 11,184 Times	Re: The Official Fuel Prices Thread Deregulation of fuel prices is the biggest joke played on this country ever, period. If somebody can explain the rationale behind the price hikes then that would seriously take a very exceptional level of deception to do that !! The way I see it, the petroleum products are the cash cows to milch as and when required. The only reason petroleum and alcohol is not under GST is that no one wants to let go of the cash cows.
	(9) Thanks