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Old 9th June 2020, 19:59   #6841
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Default Re: The Official Fuel Prices Thread

Now, if the crude prices go back to the $ 75 levels, Petrol prices may touch Rs 100. That way, govt of India and petroleum companies will get enough money to circumvent the Corona effect. Only a small percentage of the people who own a car or bike will suffer a bit by paying those small extra money. But that should be neglected for the "interest of the country". If not, you can travel in the ultra-developed public transport systems, or move to the countries which, they feel, are suitable for you. We've just started building the nation.

Last edited by romeomidhun : 9th June 2020 at 20:10.
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Old 9th June 2020, 21:27   #6842
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The government takes every opportunity to loot the public! When they were in opposition they were calling for fuel price deregulation. Lol
Fuel cost rise will increase the cost of food, medicine, electricity, clothes... everything will be more expensive. Higher inflation and loss of income due to COVID 19 etc. Definitely not good for the common man.
For those of you who think this will only affect the rich people with cars it is not true. The inflation will hurt lower income people a lot more. Fuel is a very small percentage expense for an affluent family.
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Old 9th June 2020, 22:58   #6843
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For the Govt (Central and State), Tax payer = Donkey, basically we're beast of burden. When Global Oil Prices are at an all time low we're being taken for a ride. End of last month I was taken for a ride by the electricity board of our state when the person who takes meter reading and arbitrarily charged 1190 units (even when I was actively running the place it didn't cross 300 units and the total reading on the meter is less than 900 units [New meter]) for premises that hadn't functioned for 2 months due to lock down; when confronted the foreman admitted his mistake and said he'll make it up to us during the next meter reading in 2months).. I complained online on their website and Tweeted to the Electricity Minister and CMO, both met with deafening silence. Basically get the feeling we're living in a banana republic.

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Old 10th June 2020, 10:01   #6844
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Default Re: The Official Fuel Prices Thread

Fuel prices hiked 4 days in a row due to the increase in global crude oil prices. https://www.deccanherald.com/nationa...se-847799.html
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Old 10th June 2020, 10:40   #6845
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I guess one of those WhatsApp forwards was true! Effects on fuel prices are inversely proportional when the crude prices go down and are directly proportional when the crude prices go up. Any discrepancy in the above law will vanish once you've gotten up from your sleep.

But on a serious note, it's another blow for the poor in the society.
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Old 13th June 2020, 07:49   #6846
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Seems the oil companies are very inclined to pump up the price to +5 Rs a litre on Lockdown prices. So, steadily they have been increasing ~60 paise per day.

Today is the 6th day of increase and +4 Rs has been reached. Depending on the tank capacity an increase of Rs 180 to Rs 300 per tank full. Does it make any difference to the members here?
Probably not!
But to me it gives a feeling have having missed an opportunity or the like


Please see the attachment below for (yet) another 'revision' of 60 paise, wonder what justification would they give today when the Brent has fallen 2 percent for the day.


Regards,
Attached Thumbnails
The Official Fuel Prices Thread-screenshot_20200613072849_samsung-internet.jpg  

The Official Fuel Prices Thread-20200613_074249.jpg  


Last edited by HsekarK : 13th June 2020 at 07:55. Reason: Crediting the source: https://www.goodreturns.in
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Old 13th June 2020, 08:53   #6847
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by HsekarK View Post
wonder what justification would they give today when the Brent has fallen 2 percent for the day.
Well, you asking for the logic?

I can only recall an old statement given by one of the minister in current govt:-



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Old 13th June 2020, 13:30   #6848
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Quote:
Originally Posted by tbppjpr View Post
Well, you asking for the logic?

I can only recall an old statement given by one of the minister in current govt:-
To be honest this would apply to every policy of the government. But it is our misfortune that the opposition of our country is worse than when they were in power to not being able to point this out in the open. Fuel prices would keep going up in the name of Corona crisis, while at the same time we continue to perform dismally in tackling the pandemic also.

What irks me most is that the opposition, media and everyone else including us, are letting the government go scot free with this so called farce of "deregulation". The least we deserve is some honesty in looting us and they can say that the price is still government regulated and then keep increasing it to whatever amount they want to. I will pay the higher price but have the decency to not insult my common sense!
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Old 13th June 2020, 20:55   #6849
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Seeing this scenario what I feel is that democracy is not a very good form of governance in a country like ours. For how long will about 20 % tax paying persons will be able to carry the burden of 80% others.

Just to protect their vote banks govts. are providing subsidies and helping a select few companies from whom they need funding for elections. Even the opposition parties needs funds to survive in this system . So they can only murmur slowly but will not raise their voices forcefully.

Even in developed countries there are favours given to big buisness houses but in our country the govts. are wringing the neck of taxpayers till they will collapse or are forced to migrate.
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Old 13th June 2020, 21:04   #6850
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Ours is a country where thousands walked/ cycled thousands of kilometres to reach home. The government is duty bound to take care of their interests more than those of a group of automobile enthusiasts. While, I donít like being at the receiving end always, I understand the logic. And I am thankful for what I have.
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Old 13th June 2020, 23:17   #6851
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Quote:
Originally Posted by Sree View Post
Ours is a country where thousands walked/ cycled thousands of kilometres to reach home. The government is duty bound to take care of their interests more than those of a group of automobile enthusiasts. While, I donít like being at the receiving end always, I understand the logic. And I am thankful for what I have.
You will be surprised to know that the fuel price hike will hit at the very interest of those who walked/ cycled thousands of kilometers to reach home and much more than those of a group of automobile enthusiasts !!

When the government could have passed on the benefits of low crude to the population, they kept on increasing the excise in one way or the other. The day has come when we are okay with whatever price we are paying for the oil and be happy about it. Quite a win win situation for the powers that be !!
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Old 14th June 2020, 00:50   #6852
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Default Re: The Official Fuel Prices Thread

The misconception that fuel price hike is for the 'greater good' and not for the 'enthusiasts' is exactly the problem the country is facing. We lack a lot of logic and understanding of how an economy works under which sort of political thinking. Hopefully ours would be a country again on the path of wisdom sometime soon. Amen!
Also democracy may or may not be the best form of govt., but that's what we have and that's what we ought to improve upon. Alas!
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Old 14th June 2020, 03:11   #6853
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Quote:
Originally Posted by Sree View Post
Ours is a country where thousands walked/ cycled thousands of kilometres to reach home. The government is duty bound to take care of their interests more than those of a group of automobile enthusiasts. While, I donít like being at the receiving end always, I understand the logic. And I am thankful for what I have.
What interests of those thousands were taken care of? Of the 20 lakh crore package, what is the actual amount spent for the people and what is the amount that was part of the show off?

Slavery is the biggest enemy of our country nowadays. And that too in the world's biggest democratic country!
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Old 14th June 2020, 07:40   #6854
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https://www.nytimes.com/2020/06/11/b...e=articleShare

As governments worldwide lose revenues because of the coronavirus, raising fuel prices is a well tested strategy. Nothing new to learn economics here.
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Old 14th June 2020, 08:04   #6855
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Seven times in a row, Fuel prices have become expensive by 4 rupees/litre.
The Official Fuel Prices Thread-5dc1e7a5f7134822b6232d7e186469cb.jpeg link “Good days” and ”Good governance”

Last edited by Thermodynamics : 14th June 2020 at 08:08.
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