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Old 20th February 2021, 13:49   #7081
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by vrprabhu View Post
Am I missing something here?
Private players are not allowed to sell fuel at a lower cost than PSU by agreement terms.

Also They would have to pay the same taxes as PSUs. And royalty to their parent companies for technology. So actually they will be making less money than PSU per liter of fuel. However they manage to post healthy profits while PSUs are always at loss.

This is the beauty of our economy.
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Old 20th February 2021, 17:07   #7082
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Re: The Official Fuel Prices Thread

Quote:
Private players are not allowed to sell fuel at a lower cost than PSU by agreement terms....
^ So, the world class refinery built by Reliance - resulting in efficiencies and better price parity - doesn't really translate into a lower burden at the final point of sale. Interesting. Thanks, wildsdi5530.
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Old 20th February 2021, 17:32   #7083
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Re: The Official Fuel Prices Thread

It seems high price of fuel are here to stay.
The government both at center and state are unwilling to let go of taxes. Also Rupee will continue to fall against dollar to keep exports competitive.
I predict fuel to touch 200 by year's end.

This is what Finance Minister had to say when asked about rising fuel prices. While dodging questions she clearly states Govt has done favour by not adding new taxes. No wonder we are starting to look like African economies which despite all their natural wealth are still third world countries.


Last edited by FrozeninTime : 20th February 2021 at 17:35.
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Old 20th February 2021, 18:39   #7084
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Re: The Official Fuel Prices Thread

Petrol takes just 4 days to go from Rs 96 to Rs 97 a litre – fuel prices rise for 11th straight day in India. At the current rate of price increase, the Rs 100-a-litre price for petrol in Mumbai could be breached in another 12 days.


The Official Fuel Prices Thread-1.jpg

Link
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Old 21st February 2021, 08:27   #7085
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by lurker View Post
I remember last year or it was 2019 when borders were open and petrol prices were relatively lower a dutch moto-vlogger who basically toured the whole of asia and europe on her suzuki v-strom bike was saying how expensive fuel in India was as compared to rest of the world. Those days we were in 70s for petrol.

Wonder what someone like her would say now. lol

Most probably international moto-vloggers and solo-riders would give India the pass as it's just too expensive to fill up.
Sir, this sounds like an international conspiracy to defame India. We have to ask where these international vloggers are from, who is funding them to spread such propaganda against India. I fully expect Amitabh Bhacchan Ji and Sachin ‘The God’ Tendulkar to issue hashtags against such propaganda. /sarcasm

On a serious note, the biggest reason for such high fuel prices is the complete ineptitude of this government on all matters of the economy and markets. No small thanks to demonetisation and the ham handed implementation of the GST transition. As a result the government is broke and has passed on severe burdens to the state governments as well. Consequently they have no choice but to heavily tax the two biggest essential commodities that have very low price elasticity: Fuel and Alcohol.
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Old 21st February 2021, 08:52   #7086
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Re: The Official Fuel Prices Thread

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Originally Posted by RoadTrippin View Post
On a serious note, the biggest reason for such high fuel prices is the complete ineptitude of this government on all matters of the economy and markets. No small thanks to demonetisation and the ham handed implementation of the GST transition. As a result the government is broke and has passed on severe burdens to the state governments as well. Consequently they have no choice but to heavily tax the two biggest essential commodities that have very low price elasticity: Fuel and Alcohol.
Well, we have voted, so we have to bear the consequences. Rise in fuel prices are not the only issue we must worry about. Rise in commodity prices are already hurting the mango man. WFH is the only saving grace for those people who heavily rely on personal transportation. Feel sad for people who heavily depend on their vehicles for their livelihood (Food and consignment delivery).
Govt is fully aware of the heavy dependence on fuel. Even if the fuel prices hit 200, we have no choice but to pay.
I will not be surprised if fuel will be brought under GST when the elections are nearing. We Indians tend to forgive or rather forget during the elections.
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Old 21st February 2021, 09:08   #7087
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Re: The Official Fuel Prices Thread

On a lighter note :

IMF expects India's GDP to grow significantly this year.

G - Gas
D - Diesel
P - Petrol

Courtesy YouTube comments

Last edited by Aditya : 22nd February 2021 at 06:42. Reason: Political reference
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Old 21st February 2021, 12:09   #7088
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by RoadTrippin View Post
On a serious note, the biggest reason for such high fuel prices is the complete ineptitude of this government on all matters of the economy and markets. No small thanks to demonetisation and the ham handed implementation of the GST transition.
Quote:
Originally Posted by rakesh_r View Post
Well, we have voted, so we have to bear the consequences. Rise in fuel prices are not the only issue we must worry about. Rise in commodity prices are already hurting the mango man.
“The government you elect is the government you deserve.”

― Thomas Jefferson

Last edited by Aditya : 22nd February 2021 at 06:42. Reason: Quoted text deleted
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Old 21st February 2021, 12:49   #7089
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Re: The Official Fuel Prices Thread

Demand for petroleum products fall in January 2021

https://www.reuters.com/article/indi...-idUSL1N2KF1N1

Quote:
Diesel consumption, a key parameter linked to economic growth and which accounts for about 40% of overall refined fuel sales in Asia’s third largest economy, declined 2.3% year-on-year to 6.80 million tonnes.

Sales of gasoline, or petrol, rose by about 6.1% from a year earlier to 2.61 million tonnes.

Sales of cooking gas, or liquefied petroleum gas (LPG), increased by about 2% to 2.49 million tonnes, while naphtha sales fell by 10.6% to 1.27 million tonnes.

Sales of bitumen, used for making roads, were 2.9% lower than a year ago, while fuel oil dropped by about 10% last month.
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Old 21st February 2021, 12:56   #7090
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Re: The Official Fuel Prices Thread

I have a feeling that we are soon going to see a turn around, my guess is that it will come down by about Rs 5/-.

Elections are coming to some states.
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Old 21st February 2021, 16:16   #7091
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by FrozeninTime View Post
This is what Finance Minister had to say when asked about rising fuel prices. While dodging questions she clearly states Govt has done favour by not adding new taxes. No wonder we are starting to look like African economies which despite all their natural wealth are still third world countries.


Isn't the Govt. a majority shareholder in these companies?
Didn't they make ONGC buy a majority stake in HPCL in 2018?
Don't they stop price increases in poll bound states?
Didn't they raise the excise duty repeatedly, even raising the ceiling set by previous legislation?
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Old 21st February 2021, 17:43   #7092
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Re: The Official Fuel Prices Thread

Could it be that the govt is wantonly making fuel expensive in order to bring it under GST in a politically acceptable manner (by making it appear cheaper under GST)?

Or is this a nonsense theory?
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Old 21st February 2021, 17:47   #7093
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by vharihar View Post
Could it be that the govt is wantonly making fuel expensive in order to bring it under GST in a politically acceptable manner (by making it appear cheaper under GST)?
Or is this a nonsense theory?
Utter nonsense in my opinion. Back when Oil Prices dipped to 35$ in 2016, at that time, the theory was that Govt increased taxes so that they can build enough of a money cushion so that when oil price goes up, they can soften the blow with this cushion. We know now that it was a nonsense theory.
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Old 22nd February 2021, 02:44   #7094
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Re: The Official Fuel Prices Thread

Heart says a sweet turbo petrol as a upgrade for my 7 year old polo, but the fuel prices says just to save some more and and get an electric

I have a Royal Enfield gt 650, is there some way to disable one cylinder and basically run the bike on 1 cylinder? 300 cc would be more than enough for my needs and when extra power in needed the other cylinder can be activated.
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Old 24th February 2021, 17:03   #7095
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Re: The Official Fuel Prices Thread

Fuel prices around the world per litre.

Mods kindly delete if duplicate.

Source.

The Official Fuel Prices Thread-3c2065f075c711ebaded43ee682491e6.png
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The Official Fuel Prices Thread-33.png
The Official Fuel Prices Thread-117.png
The Official Fuel Prices Thread-34.png
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