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Old 24th March 2022, 19:30   #7831
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Re: The Official Fuel Prices Thread

Why not embrace the oil bonds? It's honestly the best thing the govt did before 2013. It's the reason why there was some growth in the economy till 2016.

Hope the govt of the day swallow their pride and take this step. The middle and lower class are honestly in a tight spot financially and it's the best thing they can do to ease the burden. The prices will eventually come down one day and they can raise the taxes again.

But deep down, I know it won't happen since there's no other revenue coming in for the govt.
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Old 24th March 2022, 20:09   #7832
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by RunGaDa View Post
Create a new type of petrol - colour it like we did it for kerosene. Make is exclusive only for two wheelers less than or equal to 150cc.
Pray why? So that the delivery organisations(dunno, swiggy, blue dart, amazon, tomato, pizza, other restaurants, etc.), underage kids, bike taxis, etc. can have lower prices. Their commission will only reduce if this happens. I know we have to support the corporates by reducing their overheads and taxes, but even the common man driving his car should also benefit.
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Old 24th March 2022, 21:38   #7833
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Re: The Official Fuel Prices Thread

IOC, BPCL, HPCL lost $2.25 billion in revenue due to fuel price freeze. says Moody's
Quote:
India's top fuel retailers IOC, BPCL and HPCL have together lost around USD 2.25 billion (Rs 19,000 crore) in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody's Investors Service said on Thursday.

Petrol and diesel prices remained unchanged between November 4, 2021, and March 21 despite prices of crude oil (raw material for producing fuel) averaging around USD 111 per barrel in the first three weeks of March compared to around USD 82 in early November.
So after all there was some cost in keeping fuel price unchanged . Really unfortunate we haven't found a self-sustaining solution since Independence .
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Old 24th March 2022, 21:52   #7834
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Re: The Official Fuel Prices Thread

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Originally Posted by msdivy View Post
IOC, BPCL, HPCL lost $2.25 billion in revenue due to fuel price freeze. says Moody's

So after all there was some cost in keeping fuel price unchanged . Really unfortunate we haven't found a self-sustaining solution since Independence .
India's Petrol + Diesel consumption per month is around 1200 crore litres. Assuming the central + state tax to be 50%, the govts might have accumulated around 2 Lakh crore rupees (if not more) during the 4 months when the price hike was halted. Compare that to the 19K crores these companies lost during this period. Govt can easily pay off for these "minuscule" loss.

Last edited by romeomidhun : 24th March 2022 at 21:56.
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Old 24th March 2022, 22:57   #7835
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Re: The Official Fuel Prices Thread

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Originally Posted by msdivy View Post
So after all there was some cost in keeping fuel price unchanged . Really unfortunate we haven't found a self-sustaining solution since Independence .
A really tiny cost, to be honest a fraction of what they have received from excise and other taxes.

I don't think any country has found a self sustaining solution other than Scandinavians. Till the oil lobby is strong, it's difficult to change from fuel to eco friendly solutions. For non commercial motor vehicles it is still easy, but for industries and other heavy commercial users, it is still a long way ahead. Not so easy. Till that time the government has free hand in stripping the middle class by way of taxes on fuel and its derivatives.

Quote:
Originally Posted by romeomidhun View Post
Assuming the central + state tax to be 50%, the govts might have accumulated around 2 Lakh crore rupees (if not more) during the 4 months when the price hike was halted. Compare that to the 19K crores these companies lost during this period.
Ahan! It's not even one tenth of what they have accumulated. Sigh. Now our media will shout how much these companies lost and not how much they accumulated and that is how friends, some people are ready to pay 500 for a litre.

Last edited by batish : 24th March 2022 at 23:01.
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Old 25th March 2022, 07:01   #7836
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Re: The Official Fuel Prices Thread

Indian Oil to raise petrol, diesel prices from today.

Quote:
will raise prices of a litre of petrol and diesel by 0.80 rupees
A litre of petrol will cost 97.81 rupees while diesel will be sold at 89.07

Link

Last edited by volkman10 : 25th March 2022 at 07:04.
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Old 25th March 2022, 10:06   #7837
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Re: The Official Fuel Prices Thread

Diesel increased by approx Rs. 0.85 everyday in past four days except yesterday. Almost Rs. 3 increase.
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Old 25th March 2022, 10:08   #7838
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by wildsdi5530 View Post
Pray why? So that the delivery organisations(dunno, swiggy, blue dart, amazon, tomato, pizza, other restaurants, etc.), underage kids, bike taxis, etc. can have lower prices. Their commission will only reduce if this happens. I know we have to support the corporates by reducing their overheads and taxes, but even the common man driving his car should also benefit.

Because Equity.
A TVS moped owned / loaned by a person who will lose livelihood without using it to move things or go to place of work is not the same as a Mercedes or BMW standing right next to the TVS, using the same petrol. Equality != Equity.
We have different slabs for Income tax. Hence the 80% have a strong case for cheaper petrol.

There is of course lots of car owners in between the TVS model and the Merc. They can still offset the cost by using two wheelers for smaller errands and cars when required.

The point of exploitation is age-old and perhaps not in scope of this discussion.
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Old 26th March 2022, 09:28   #7839
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Re: The Official Fuel Prices Thread

Fourth hike in diesel, petrol prices in India in a week.

In Mumbai, petrol prices have risen to ₹113.35 per litre, whereas diesel will now cost ₹97.55 per litre.

Delhi will now be selling petrol at ₹98.61 per litre and diesel at ₹89.87 per litre.

Link

Last edited by volkman10 : 26th March 2022 at 09:29.
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Old 27th March 2022, 10:04   #7840
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Re: The Official Fuel Prices Thread

Petrol, diesel prices hiked again, 5th time in 6 days. Increased by Rs 3.70/3.75 in 6 Days.

Quote:
Petrol has got dearer by Rs 3.70 per litre while diesel prices have gone up by Rs 3.75 per litre.
In Delhi and Mumbai, a litre of petrol will now cost Rs 99.11 and Rs 113.88 respectively.
Similarly, in Chennai it is Rs 104.90 for a litre of petrol while people in Kolkata can purchase it for Rs 108.53.

A litre of diesel, meanwhile, would now cost Rs 90.42 in Delhi, Rs 98.13 in Mumbai, Rs 95.00 in Chennai, and Rs 93.57 in Kolkata.

Link

Last edited by volkman10 : 27th March 2022 at 10:08.
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Old 28th March 2022, 08:41   #7841
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Re: The Official Fuel Prices Thread

Petrol pricey is hiked by 30 paise a litre and diesel by 35 paise, taking the total increase in rates in the last one week to Rs 4-4.10 per litre.


Petrol in Delhi will now cost Rs 99.41 per litre as against Rs 99.11 previously while diesel rates have gone up from Rs 90.42 per litre to Rs 90.77.


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Old 29th March 2022, 08:01   #7842
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Re: The Official Fuel Prices Thread

Prices increase for the 7th time since Mar-22. Hiked by 80 paise a litre and diesel by 70 paise. Now ₹4.80 per litre hiked in a week.

Petrol tops ₹100/litre in Delhi. Diesel is hiked to ₹91.47/l.

In Mumbai, the prices of petrol and diesel were hiked by 85 paise and 75 paise respectively. Now, have to pay ₹115.04 for petrol and ₹99.25 for diesel.

In other cities, Chennai is ₹105.94 and ₹96.00, while in Kolkata, the price of petrol is ₹109.68 and diesel is ₹94.62. In Bengaluru, the price of petrol is ₹105.62 per litre and ₹89.70 per litre for diesel. In Hyderabad, per litre of petrol will cost Rs113.61 and ₹99.84 for a litre of diesel.

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Last edited by volkman10 : 29th March 2022 at 08:07.
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Old 29th March 2022, 08:47   #7843
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Re: The Official Fuel Prices Thread

My comments were based on a few recent news items.
Quote:
Originally Posted by batish View Post
A really tiny cost, to be honest a fraction of what they have received from excise and other taxes.
Reference: after elections
Quote:
I don't think any country has found a self sustaining solution other than Scandinavians.
Reference: import dependence
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Old 29th March 2022, 08:54   #7844
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Re: The Official Fuel Prices Thread

I'm just back filling my Interceptor; costed a whopping 1150.12 for a full tank of 10.84 liters an average of Rs 106.10 per litre. The pump attendant said he's been hearing rumors on the average price per litre going to hover around Rs 150 in the forthcoming months!!

When I told this to Wife, she had a thought - instead of making EVs affordable, increase the price of fuel so high that eventually everyone will move towards EV. It's a profit for EV manufacturers, oil companies & the govt.

Last edited by Sheel : 29th March 2022 at 09:27. Reason: Inty = Interceptor. Please do not use acronyms when referring to cars / motorcycles / brands. Thanks.
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Old 29th March 2022, 09:11   #7845
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Re: The Official Fuel Prices Thread

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Originally Posted by aargee View Post
...instead of making EVs affordable, increase the price of fuel so high that eventually everyone will move towards EV. It's a profit for EV manufacturers, oil companies & the govt.
Ok, it's profit for all others, but what about the common people? Are they capable of spending another 15L for buying EVs?

Also, do you think electricity will remain cheap then? Govt is mainly running on fuel taxes, imo (earlier govts were giving subsidies for fuel, while it is earning around 6L crore per year nowadays). They will hike the electricity charges ty o exorbitant levels when EVs become popular.
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