[ontheway]

I came across this news article from UK where super rich are requesting government to increase taxes on them instead of raising taxes on the middle class and poor, which I think is also relevant in India as we also have huge income disparities - https://www.theguardian.com/news/202...uce-wealth-tax

Everyone has right to his opinion and belief, but I can't comprehend how we can justify such excessive taxes on fuels. Petrol and diesel are not some luxury/sin commodities like air conditioners, liquor or tobacco, which govt can tax at its fancy and people will say it is justified. These fuels, along with CNG and LPG, are used by poor and rich both. It is a necessity which cannot be simply removed from your life.

The major reason why government is dependent on such high taxes on fuel is because it chose to reduce corporate taxes to encourage them to increase investments in the country. But guess what, the corporates just chose to sit on this cash and increased their shareholder value. To support this, please refer these articles-
https://www.business-standard.com/ar...1300442_1.html

https://www.thehindu.com/data/data-c...le31727026.ece

[CrAzY dRiVeR]

I wonder why no one has noticed this milestone yesterday. Or is it something I missed to notice earlier?

Petrol crossed the next normal of Rs 120/- in Rajasthan's Ganganagar. Coming soon to cities near you.

[yesyeswe]

Originally Posted by CrAzY dRiVeR

I wonder why no one has noticed this milestone yesterday. Or is it something I missed to notice earlier?

Just like cricketers only raise their bats at 50 and multiples of 50, we were waiting for it to reach 150 and then celebrate.

But the city of Ganganagar borders Punjab where petrol is around 110rs per litre so people get their fuel from there, so their is some relief at least.

[Chetan_Rao]

My current car is ONLY 2 years and a bit old, yet I think I'll soon be posting my first few Fuelio app screenshots on the fuel price nostalgia thread.

[wildsdi5530]

Oil prices are forecast to rise further according to this article by Reuters. (The scarcity premium embedded in the structure of Brent crude oil futures has widened to the most since 2013 this week, a sign of the tight market underpinning oil's rally that pundits increasingly predict will push the market to $100 a barrel.). Currently Brent stands at $83.27 and is expected to tough $100 soon.
https://www.reuters.com/business/ene...st-2021-10-26/

The last time this has happened was back in 29.10.2011, exactly 10 years back. And in 2008 before that.

Somehow I feel this is scaremongering and that Brent prices will fall and our govt will graciously transfer the benefits of low oil prices to us.

[carboy]

Originally Posted by wildsdi5530

Somehow I feel this is scaremongering and that Brent prices will fall and our govt will graciously transfer the benefits of low oil prices to us.

Look back to 2015 when crude cost 45$ & check how much petrol price at the pump was. That's when they hiked taxes a lot - we were probably the only country in the world where consumers didn't benefit from 45$ a barrel of crude. Faye D'Souza was the only one on TV asking questions back then - as to why are taxes on fuel being raised so much that the price at the pump was so high. I was told that time by several people that the extra taxes they collect when the crude prices are low will be used to cushion prices when crude oil prices are high.

[longhorn]

There was a time circa 2013/14 when crude hit 120 dollars to the barrel. We were paying about Rs. 67 -70 for litre of petrol back then. There were a few people doing drama with bullock carts back then. Those very same souls, are now, conspicuous by their absence especially so because now they are in a position of power.

[nairrk]

Fuel prices hiked , Petrol touches ₹108.64 in Delhi

Petrol and diesel prices on Friday increased for the third consecutive day to touch record high levels across the country. With a hike of 35 paise a litre, the price of petrol in Delhi rose to its highest-ever level of Rs 108.64 a litre.

The price of diesel also saw a hike by 35 paise and took the fuel's rate to Rs 97.37 per litre in the national capital.

Read

[sunbaj]

Originally Posted by longhorn

There was a time circa 2013/14 when crude hit 120 dollars to the barrel. We were paying about Rs. 67 -70 for litre of petrol back then. There were a few people doing drama with bullock carts back then. Those very same souls, are now, conspicuous by their absence especially so because now they are in a position of power.

I agree but I don't understand what is the current opposition doing. Either the current opposition does not have any interest/concern to the issues that the general public is as a whole facing or they are under the illusion that giving importance to other issues which we all know what they are makes more sense.

I anticipate by December we would be touching 150 Rs/liter if corona does not cause a lockdown in Europe and US.

[fuzzydealhunter]

I for one am looking forward to my ola scooter. Right now its become more expensive for me to drive our Honda Activa than Tata nexon ev.

A Rs 200 that used to get me a full tank on Activa barely gets me half now. These fuel prices are ridiculous considering about half of it is just taxes!

[Nalin1]

Originally Posted by CrAzY dRiVeR

I wonder why no one has noticed this milestone yesterday. Or is it something I missed to notice earlier?

Petrol crossed the next normal of Rs 120/- in Rajasthan's Ganganagar. Coming soon to cities near you.

Why no one noticed? Because they hit upon a brilliant strategy to keep increasing without being noticed. Just hike them paisa by paisa by paisa. All 140 crore people will be fooled.

A few years ago whoever was in power made the mistake of hiking it in Rupees like 2 or 4 or even 5 at one shot bringing bullock carts to roads, bundh etc. Now they realized this is a dangerous method and adapted this strategy.

Slow and steady wins the race.

[AnandB]

I will explain my situation and how this has been terrible for us. We had a strike here in Chhattisgarh by all transporters against cement manufacturers that lasted for 1.5 months. It was because of previous diesel increase and other issues. The strike ended 10 days ago and they had increased freight by 8-9%. When the strike started diesel was Rs. 97 here and today it has already crossed Rs. 105. All the loss suffered during the 1.5 months in hopes the freight increase would cover it is already gone and fuel prices don't appear to be stopping. The manufacturers increased cement price as soon as the strike started and after the strike have increased it even more. Now we are stuck in hard place. Whether to do another strike to demand an increase and suffer more losses by putting our trucks to halt or just survive in hopes the fuel prices stop increasing. Not to mention how tyre prices and every single cost (from new trucks to mainainence) has increased exponentially in the past couple of years like every day items have.

Originally Posted by sunbaj

I agree but I don't understand what is the current opposition doing. Either the current opposition does not have any interest/concern to the issues that the general public is as a whole facing or they are under the illusion that giving importance to other issues which we all know what they are makes more sense.

Fuel tax is a big source for both BJP and non-BJP states. They will not say no to revenue. Like corruption, we think changing the govt. would reduce it but instead the new one keeps the same thing going.

[carboy]

Originally Posted by AnandB

Fuel tax is a big source for both BJP and non-BJP states. They will not say no to revenue.

The state tax is a percentage & the percentage itself has not changed significantly since 2014 in many states. It's changed only in a few states.

It's the central tax (which is absolute & not a percentage) which gets increased constantly. Now, people think that the states also benefit significantly from the increase in central tax because the central tax is shared with the states - but that's not completely true. The different components of the Central tax fall under two diff pools - the divisible pool & the non divisible pool. Almost all of the increases in central tax have come from those components which fall in the non-divisible pool. So out of the 33 Rs (approx) which is collected as central tax per litre, only 60 paise or so goes to that states. Rs 32.40 per litre is kept with the center.

[punto_]

Paid 113 per litre today in Hyderabad for petrol. It's going beyond control, neither state nor central govt seem to have any interest in fixing this. In Hyderabad there are talks of companies calling all employees to work, with the current prices, it's going to be a nightmare.

Here's a quick graph showing the fuel price rise since Dec 2020.

[sunbaj]

Originally Posted by carboy

The state tax is a percentage & the percentage itself has not changed significantly since 2014 in many states. It's changed only in a few states.

It's the central tax (which is absolute & not a percentage) which gets increased constantly. Now, people think that the states also benefit significantly from the increase in central tax because the central tax is shared with the states - but that's not completely true. The different components of the Central tax fall under two diff pools - the divisible pool & the non divisible pool. Almost all of the increases in central tax have come from those components which fall in the non-divisible pool. So out of the 33 Rs (approx) which is collected as central tax per litre, only 60 paise or so goes to that states. Rs 32.40 per litre is kept with the center.

The current Govt. is a master in such tactics. In all the public forums they constantly covey that the state Govt. need to work and reduce their taxes similar to what they did when they called upon OPEC to increase the production and control the prices.

Also I would like to add that the Central Govt. is increasing the CESS so that nothing goes to state Govt. and everything remains with the Central