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Old 6th August 2021, 20:49   #7291
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Default Re: The Official Fuel Prices Thread

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Originally Posted by ptaneja View Post
For you, at 20km/ltr and spending around 10K a month, it would mean an average travel of 2600 odd kms per month !!
Drive Less - Save Fuel
I get a grand 12 kmpl. the current prices are 105 in Hyderabad. I drive around 1200-1400 kms. The solution is not to drive less, but to stop double, triple taxation and ensuring the citizens are not penalized for being able to afford stuff.

When you penalize the folks who can afford, soon, they will also turn into people who cannot afford.
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Old 6th August 2021, 21:08   #7292
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Default Re: The Official Fuel Prices Thread

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Originally Posted by Inquilab28 View Post
I get a grand 12 kmpl. the current prices are 105 in Hyderabad. I drive around 1200-1400 kms. The solution is not to drive less, but to stop double, triple taxation and ensuring the citizens are not penalized for being able to afford stuff.

When you penalize the folks who can afford, soon, they will also turn into people who cannot afford.
Trust me. I am cursing today myself for buying a Petrol vehicle and that too without any fault of the poor vehicle.
I was planning a trip to Rajasthan from Bangalore and a rough calculation gives me Roughly 57k as the expense for the whole trip with my petrol vehicle.
Whereas a Diesal vehicle turns out to be roughly 15k cheaper.
In the long term if I do 1 such trip every year in 6 years ill be able to justify the cost of a Diesel vehicle. Not sure what to do.
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Old 9th August 2021, 14:33   #7293
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Default Re: The Official Fuel Prices Thread

Crude oil price was 75 dollars in July 17. The price has reduced to 69 dollars in August 6, around 9% reduction. But there is no reduction in petrol and diesel prices.

Last edited by anb : 9th August 2021 at 14:42.
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Old 13th August 2021, 15:59   #7294
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Default Re: The Official Fuel Prices Thread

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In a big relief for people in Tamil Nadu, the state government today said it would reduce petrol price by Rs. 3 per litre. Tamil Nadu Finance Minister Palanivel Thiagarajan, while presenting the state budget today, said petrol price has been cut by ₹ 3 and because of this, the state will incur a cost of Rs. 1,160 crore a year.
https://www.ndtv.com/tamil-nadu-news...ndtv_topscroll
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Old 17th August 2021, 12:28   #7295
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Default Re: The Official Fuel Prices Thread

Lies, lies and little else.

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'Excise Duty on Fuel Will Not Be Reduced,' Says FM Sitharaman, Blames UPA Govt

Amid record-high prices of fuel, Finance Minister Nirmala Sitharaman announced on Monday, 16 August, that the excise duty on petrol and diesel will not be reduced, 'due to Oil Bonds', floated by the UPA government, and added that 'the burden has come to our government'.

Sitharaman explained that the UPA government had reduced fuel prices by issuing Oil Bonds of Rs 1.44 lakh crores.

She was quoted as saying, “I can't go by the trickery that was played by previous UPA government. Due to Oil Bonds, the burden has come to our government, that's why we are unable to reduce prices of petrol and diesel,” news agency ANI reported.
https://www.thequint.com/news/india/...ala-sitharaman
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Old 17th August 2021, 15:51   #7296
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Default Re: The Official Fuel Prices Thread

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Originally Posted by discoverwild View Post
https://www.newindianexpress.com/bus...e-2309283.html

There was 1.8L CR more in revenue.

HPCL, BPCL, and all other companies are in huge profits.

Till when are we supposed to pay this 'oil bonds' crap? Who is keeping track of when the supposedly 1.44L CR target is met? Or do they keep sucking blood from common folks for a long time to come?
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Old 17th August 2021, 16:36   #7297
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Default Re: The Official Fuel Prices Thread

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As if the current government never took oil bonds!!
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Old 17th August 2021, 17:37   #7298
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by discoverwild View Post
This claim has been comprehensively debunked. IIRC, the numbers work out as follows (broadly):

Total value of oil bonds issued- Rs. 1.44 lakh crores
Total oil bond outstanding as on date- Rs. 1.31 lakh crores (In fact as per budgetary disclosures, there has been no repayment of principal for the last 3 years, so this number has remained the same)

Interest payment on oil bonds per year- Rs. 10,000 crore (a pittance)

Excise duty collection from petroleum products in the last fiscal- Rs. 3 lakh crores! Infact even before the excise duty increase last year during Covid, the collection was Rs. 2.13 lakh crores.

Compare this to excise duty collection from petroleum in 2014-15 (last UPA year)- Rs. 99,000 crores.

And Niramala Tai wants us to believe that she's repaying oil bonds with this increase excise duty.

As a matter of fact, the corporate tax collection of the government has come down from 5.5 lakh crores to 4.3 lakh crores, because of reduction in corporate tax rate (just before Covid hit). It is clear that Nirmala tai is making the citizens subsidize the corporate sector. Everything else is bluster!

Last edited by Vitalstatistiks : 17th August 2021 at 17:38.
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Old 17th August 2021, 17:51   #7299
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Default Re: The Official Fuel Prices Thread

No proposal to cut petrol prices in state: Karnataka CM

Quote:
in Tamil Nadu slashed petrol prices by Rs 3 by lowering the tax levy
Link
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Old 17th August 2021, 20:29   #7300
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by vishegde View Post
https://www.newindianexpress.com/bus...e-2309283.html

There was 1.8L CR more in revenue.

HPCL, BPCL, and all other companies are in huge profits.

Till when are we supposed to pay this 'oil bonds' crap? Who is keeping track of when the supposedly 1.44L CR target is met? Or do they keep sucking blood from common folks for a long time to come?
Absolutely. have read many reports that they have MORE than recovered the debts left by the oil bonds.

Quote:
Originally Posted by Vitalstatistiks View Post
This claim has been comprehensively debunked. IIRC, the numbers work out as follows (broadly):

Total value of oil bonds issued- Rs. 1.44 lakh crores
Total oil bond outstanding as on date- Rs. 1.31 lakh crores (In fact as per budgetary disclosures, there has been no repayment of principal for the last 3 years, so this number has remained the same)

Interest payment on oil bonds per year- Rs. 10,000 crore (a pittance)

Excise duty collection from petroleum products in the last fiscal- Rs. 3 lakh crores! Infact even before the excise duty increase last year during Covid, the collection was Rs. 2.13 lakh crores.

Compare this to excise duty collection from petroleum in 2014-15 (last UPA year)- Rs. 99,000 crores.

And Niramala Tai wants us to believe that she's repaying oil bonds with this increase excise duty.

As a matter of fact, the corporate tax collection of the government has come down from 5.5 lakh crores to 4.3 lakh crores, because of reduction in corporate tax rate (just before Covid hit). It is clear that Nirmala tai is making the citizens subsidize the corporate sector. Everything else is bluster!
You have well lived up to your handle :-)

Love the vital statistics presented.

Last edited by nidhikapoor : 17th August 2021 at 20:32.
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Old 17th August 2021, 20:32   #7301
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Default Re: The Official Fuel Prices Thread

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Originally Posted by volkman10 View Post
No proposal to cut petrol prices in state: Karnataka CM



Link
And why would they? End of the day its the mango man who has to pay from his own pocket. Very surprised as i don't see any protests, hartals or bandhs being declared. Even social media and news papers or media have gone completely mum, which means people are ready to tolerate whatever carrot the govt is shoving down the throat.
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Old 17th August 2021, 20:58   #7302
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Default Re: The Official Fuel Prices Thread

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Originally Posted by rakesh_r View Post
And why would they? End of the day its the mango man who has to pay from his own pocket. Very surprised as i don't see any protests, hartals or bandhs being declared. Even social media and news papers or media have gone completely mum, which means people are ready to tolerate whatever carrot the govt is shoving down the throat.
You know it helps when media is in your pocket, social media is under strict laws and a person protesting could get arrested any day under stringent laws like UAPA and sedition.
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Old 17th August 2021, 21:01   #7303
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Vitalstatistiks View Post
This claim has been comprehensively debunked. IIRC, the numbers work out as follows (broadly):

It is clear that Nirmala tai is making the citizens subsidize the corporate sector. Everything else is bluster!
Thank you for this insightful statistics. I'm going to counter back every stupid whatsapp forward with this. On a serious note, prices have been stable at 108.25₹/litre for over two weeks now, while the crude price is falling. How's it that when international prices of crude go down, the petrol diesel prices in our country never go down or just remain at the same level ?
Goes to show how much "vikas" the government is doing
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Old 17th August 2021, 21:03   #7304
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Default Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Vitalstatistiks View Post
This claim has been comprehensively debunked. IIRC, the numbers work out as follows (broadly):

Total value of oil bonds issued- Rs. 1.44 lakh crores
Total oil bond outstanding as on date- Rs. 1.31 lakh crores (In fact as per budgetary disclosures, there has been no repayment of principal for the last 3 years, so this number has remained the same)

Interest payment on oil bonds per year- Rs. 10,000 crore (a pittance)

Excise duty collection from petroleum products in the last fiscal- Rs. 3 lakh crores! Infact even before the excise duty increase last year during Covid, the collection was Rs. 2.13 lakh crores.

Compare this to excise duty collection from petroleum in 2014-15 (last UPA year)- Rs. 99,000 crores.

And Niramala Tai wants us to believe that she's repaying oil bonds with this increase excise duty.

As a matter of fact, the corporate tax collection of the government has come down from 5.5 lakh crores to 4.3 lakh crores, because of reduction in corporate tax rate (just before Covid hit). It is clear that Nirmala tai is making the citizens subsidize the corporate sector. Everything else is bluster!
Thanks for this - it's quite an eye opener. No wonder BJP gets 75% of the share of electoral bonds raised.

Further what surprises me is the impunity with which the FM lied! If that doesn't work, then inspite of 7years of absolute majority, pin everything on UPA rule.

Last edited by Nilesh5417 : 17th August 2021 at 21:04.
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Old 18th August 2021, 08:17   #7305
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Default Re: The Official Fuel Prices Thread

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Originally Posted by discoverwild View Post
Just curious - isn't it unlawful for a minister to make such blatant lies?
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