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Old 24th June 2021, 13:42   #7201
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Default Re: The Official Fuel Prices Thread

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Originally Posted by Sanjunair5 View Post
What I would prefer is, be honest about why you are doing what you are doing. If the government comes with the honest explanation of why they are raising taxes on oil products I am likely to be more okay with it than a false explanation.
Nah! They don't have any logical explanation to that. They'll milk till they can. When they don't even pay heed to RBI's recommendations, then explanation for this seems far fetched.

If you listen to petroleum minister's comments you'll be amazed to see how he manages to come up with new theory every other month.
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Old 24th June 2021, 14:37   #7202
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Default Re: The Official Fuel Prices Thread

I have a question to ask Bhpians:
At what price range do you think petrol will settle and also at what price do you think it would be unfeasible to run petrol cars.
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Old 24th June 2021, 15:08   #7203
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Originally Posted by FrozeninTime View Post
I have a question to ask Bhpians:
At what price range do you think petrol will settle and also at what price do you think it would be unfeasible to run petrol cars.
There is no such thing as a feasible price point for petrol/diesel. Not until you have an alternative option.

Since fuel is your only option for a foreseeable future, it doesn't matter what price does it come at. For an enthusiast will buy it for his enjoyment regardless of the price. A business person will buy it for his needs and simply pass it to the consumer/client/end-product. A daily office goer will continue to buy it until it becomes unaffordable for him v/s his bread. There are very few such individuals to be honest.

This is the reason every government in the world makes the best use of this cash cow. India is a special case because of reasons known to all of us. Unless this becomes as important to every individual as electricity/water is for farmers and hence an election issue, it won't be taxed less. No matter which government is in place.

Last edited by sunilch : 24th June 2021 at 15:10.
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Old 24th June 2021, 15:57   #7204
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Default Re: The Official Fuel Prices Thread

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Originally Posted by FrozeninTime View Post
I have a question to ask Bhpians:
At what price range do you think petrol will settle and also at what price do you think it would be unfeasible to run petrol cars.
2-3 years ago I thought petrol would settle at Rs.100/lit or under for at-least few years. Boy I was wrong! The prices escalated quickly and the few years became like a moment.

That being said I have made up my mind to fix a CNG and wait in line if it touches Rs.200/Lit and fix a Thule luggage rack on the top. Or find the BHpian who converted his DZire to electric car if the cost works out (which it mostly won't.)

What I do currently is I fill my car with min 3 and max 5 seats (including me) whenever I have to go anywhere and it works out much cheaper.

The only time I shed tears is while filling it up at the fuel station and seeing the price unit scroll at lightning speed while the litre unit scroll at the snail's pace.

I just forget about the cost/km when driving. Good music, AC, singing along and driving is a worth lot more. And yes, I am a sedate driver. (I wasn't for the first 100-200km and the instant fuel economy bar put a tight leash on me ) I drive at 80 kmph tops. I really feel speeding is overrated and I much enjoy the joy and experience and the good fuel economy than feeling like an F1 driver for few minutes.
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Old 25th June 2021, 08:45   #7205
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Default Re: The Official Fuel Prices Thread

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Originally Posted by batish View Post
If you listen to petroleum minister's comments you'll be amazed to see how he manages to come up with new theory every other month.
True, the less said the better about the petroleum ministers. I sometimes wonder what the economists of OPECs, oil companies would be thinking of him (and consequently about us as a nation) based on the comments he makes!
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Old 25th June 2021, 23:57   #7206
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High oil prices will throttle recovery, Dharmendra Pradhan tells OPEC

Source : TOI

Quote:
Oil minister Dharmendra Pradhan on Thursday conveyed to Opec India’s concern over rising crude prices which are hurting economic recovery by creating inflationary pressure by sending fuel prices soaring.

Pradhan reiterated his request for phasing out production cuts imposed by Opec and its ally Russia to prop up prices after they had crashed in 2020 as the pandemic wiped out demand.

According to statements issued by Opec and the oil ministry, Pradhan emphasised that crude prices should remain within a “reasonable” band for "smart" recovery. This will be in the collective interests of both consumers and producers and will encourage a consumption-led recovery, the statements quoted him as saying.
WOW!! I mean WOW!!

Seeing so much care for consumers, I got tears in my eyes.

Such statements are made in attempt to shift blame on everyone else, but self.
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Old 26th June 2021, 11:55   #7207
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Received on WhatsApp, a peek into the future.

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Old 26th June 2021, 16:45   #7208
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by FrozeninTime View Post
I have a question to ask Bhpians:
At what price range do you think petrol will settle and also at what price do you think it would be unfeasible to run petrol cars.
There is no settlement of fuel prices. So its better to leave the country and settle outside India. A different kind of settlement.
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Old 28th June 2021, 20:02   #7209
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Default Re: The Official Fuel Prices Thread

Another interesting set of facts:

As per mypetrolprice.com, from 8 July 2020 (when petrol in Delhi was Rs. 80.47) to June 28, 2021 (when petrol in Delhi is Rs. 98.52)

Petrol prices were reduced for a grand total of 10 days [Total reduction: Rs. 1.79]

Petrol prices were increased for 84 days [Total increase: Rs. 19.84]

Prices were unchanged for over 200 days!


This may mean nothing since Brent may have also reflected similar trend but in the age of so-called tracking the global oil prices and Petroleum Minister blaming OPEC for increase in prices, I'd be stumped if Brent+ Rupee v. Dollar movement was positive in only 10 instances while giving a completely neutral impact for over 200 days.

Can someone take this government to the court and ask them to explain the formula that is used to calculate retail prices? In my view, we focus too much on the direct taxes being levied by the Central and State governments, and too little on the opaque manner of daily price regulation, which results in the oil importing companies pricing the product conveniently and, as the largest shareholder, passing on the benefit back to the government.

Last edited by Vitalstatistiks : 28th June 2021 at 20:07.
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Old 30th June 2021, 08:14   #7210
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Default Re: The Official Fuel Prices Thread

Anyone else remember the time during last year when oil futures went negative? The prices in India were 70 then. I think we will never see petrol go below 90 here after assuming Brent will settle back around 50 to 60$ in the long run. It’ll be soon time enough when the proper middle class can no longer afford to buy cars which are already taxed heavily using their income which is again taxed only to shell out their remaining savings on fuel. I understand that the government needs a cash cow but I wish they were a bit sensible and adjusted their taxes according to the Brent fluctuations and kept the rates at a somewhat reasonable level. But hey, at least the taxes collected are being used well. Right ?

Last edited by bblost : 30th June 2021 at 08:53. Reason: Fixed two typos. Thanks.
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Old 30th June 2021, 14:31   #7211
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Originally Posted by Gokuljayaraj View Post
But hey, at least the taxes collected are being used well. Right ?
Is that sarcasm I'm smelling? If not, I wouldn't be so sure about that. I remember reading a stat a few years back - that only 15 paisa out of each rupee of government spending is truly efficient. That might have increased a bit due to the advent of technology, but I wouldn't agree to a statement that our governments spend money wisely, irrespective of party preferences.

Keeping the question of government spending aside, bulk of the taxes collected are going to the union government today and the balance of economic power is being shifted against the federal interests of Indian states. Infact, the share going to the union government has increased by 216% in the last 7 years, while the share going to the state has decreased.
More details here:
https://www.slideshare.net/DreamTami...iesel-taxation

Last edited by pavanmadhini : 30th June 2021 at 14:31. Reason: Missed a word.
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Old 30th June 2021, 14:44   #7212
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by pavanmadhini View Post
Is that sarcasm I'm smelling? If not, I wouldn't be so sure about that. I remember reading a stat a few years back - that only 15 paisa out of each rupee of government spending is truly efficient. That might have increased a bit due to the advent of technology, but I wouldn't agree to a statement that our governments spend money wisely, irrespective of party preferences.

Keeping the question of government spending aside, bulk of the taxes collected are going to the union government today and the balance of economic power is being shifted against the federal interests of Indian states. Infact, the share going to the union government has increased by 216% in the last 7 years, while the share going to the state has decreased.
More details here:
https://www.slideshare.net/DreamTami...iesel-taxation
Yes it was sarcasm lol. Actually I has added a sarcasm tag at the end but the mods seem to have removed it as a typo. We all know how inefficient our government is at spending the money gathered from taxes. I had a conversation recently with my friend asking him if he wondered what the government did with his tax money. He said he didn’t care as long as the government doesn’t harass him for income taxes. If people don’t ask for accountability, then they’ll get none.

On the topic of fuel prices, my dad was telling me today how filling his bike for 100 bucks used to last him a week at least, but it only lasts him two days these days. Sad part is that his income has actually reduced in this period of rapid increase in fuel prices. Oh well, no point moaning about it I guess.
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Old 1st July 2021, 09:59   #7213
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Default Re: The Official Fuel Prices Thread

June 2021:

Petrol price up by Rs 4.18 a litre in a month, diesel by Rs 4.03

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the price table above for four metro cities in India and you find that the increase is maximum for the motorist in Delhi – Rs 4.32 a litre, followed by Mumbai (Rs 4.18), Kolkata (Rs 4.14) and Chennai (Rs 3.81). Excise duty remains the same on July 1 – Rs 32.90 – as it was on June 1.
What the price build-up data reveals:
Quote:
the base price of petrol has risen by Rs 3.3 a litre, which dealers are paying but make 3 paise more as their commission per litre, even as freight costs per litre remained the same at 36 paise. Value-Added Tax (VAT) has increased by 99 paise a litre.
The Official Fuel Prices Thread-2.jpg

The Official Fuel Prices Thread-3.jpg
Quote:
On the diesel front, the build-up for the price increase in a month shows that the base price of this fuel has risen by Rs 3.25 a litre, VAT has increased by 54 paise a litre. Excise duty remains unchanged at Rs 31.80 a litre.
Link
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Old 1st July 2021, 10:34   #7214
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Gokuljayaraj View Post
Yes it was sarcasm lol. Actually I has added a sarcasm tag at the end but the mods seem to have removed it as a typo. We all know how inefficient our government is at spending the money gathered from taxes.
You're probably totally detuned from what's happening in the country, as regards efficient usage of our tax Rupees for a zillion transportation infrastructure works.

See:



I actually feel *2015 - 25* is probably a golden decade in India's infrastructure story. A huge amount of national highway/expressway infrastructure work is in process. Not to mention DFC, metro in *all* Tier 1 and 2 cities and some Tier 3 and 4 cities, and a few others like MTHL, several new airports, lots of rail track doubling and electrification, etc. In no other decade have I seen such a huge transportation infrastructure works in progress. Looking forward to seeing 80% of these complete during 2022 - 2025.

See https://www.team-bhp.com/forum/india...ml#post4990557 (The Official Fuel Prices Thread) for an itemized list.

The most recent completed projects being the construction of the Banihal road tunnel and the Atal tunnel.

So do I support the huge fuel taxes? No. I feel they should reduce fuel taxes and revert corporate taxes back to the 2019 levels of 30%.

Last edited by vharihar : 1st July 2021 at 10:35.
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Old 1st July 2021, 10:59   #7215
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Default Re: The Official Fuel Prices Thread

I agree about road infrastructure. It has had huge development being a transporter. It's the one and maybe the only ministry that has done major work and proper utilization of funds. Nitin Gadkari has done good work. If i can blame Modiji/BJP for other stuff then I should credit them also for this. On your point about Atal and Banihal tunnel i feel it's more to do with China and J&K situation.
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