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Old 24th May 2022, 12:48   #7951
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Re: The Official Fuel Prices Thread

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Originally Posted by Gansan View Post
Are petrol prices reduced or not? Today I saw a rate of Rs102.xx while crossing a petrol bunk. Last week I paid 103.xx. Didn't they say prices will go down by Rs 8.00 per litre? From when?
Its done. Mumbai prices are down by Rs 9 effective the day announcement was made.
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Old 24th May 2022, 13:03   #7952
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Re: The Official Fuel Prices Thread

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Originally Posted by Gansan View Post
Are petrol prices reduced or not? Today I saw a rate of Rs102.xx while crossing a petrol bunk. Last week I paid 103.xx.
Last Sunday 91 petrol was 108 or 109 odd. Diesel was 101.48.

Diesel is now 94.28 and petrol is 103.19.

This is in BPCL COCO in MM Nagar.
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Old 24th May 2022, 14:28   #7953
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Re: The Official Fuel Prices Thread

Quote:
Originally Posted by Gansan View Post
Are petrol prices reduced or not? Today I saw a rate of Rs102.xx while crossing a petrol bunk. Last week I paid 103.xx. Didn't they say prices will go down by Rs 8.00 per litre? From when?
The pump prices now are reduced. I think that specific bunk would not have updated the display when the prices increased.
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Old 24th May 2022, 15:23   #7954
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Re: The Official Fuel Prices Thread

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Originally Posted by Gansan View Post
Are petrol prices reduced or not? Today I saw a rate of Rs102.xx while crossing a petrol bunk. Last week I paid 103.xx. Didn't they say prices will go down by Rs 8.00 per litre? From when?
102.x is the reduced price. Please find prior 10 days price below.

The Official Fuel Prices Thread-screenshot_20220524152242921.png
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Old 24th May 2022, 18:47   #7955
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Re: The Official Fuel Prices Thread

https://m.economictimes.com/industry...w/91740258.cms

Been seeing these kind of articles for a few days now. I fail to understand it, the base price of fuel is not being managed, only the taxes are being reduced to increased, then why this Kolaveri. Under recoveries of Rs 13 and Rs 24 for petrol and diesel respectively, numbers just do not add up. For a layman does it mean that base prices have to be increased as much to manage break even for these cos or they need these levels to maintain their stupendous profitability. Is it their MSP?

Secondly the issue about loss to the exchequer with the reduction of taxes, this kind of reporting makes me feel as if Iam guilty of stealing from the Govt by asking for lowering of tax on fuel. Govt has taken this step not under duress of public pressure, there has been no rallies or demonstrations asking for it, but under it's own realisation that things have gone beyond the threshold. And by the way why cannot these jounos write that this amount of money has come into the hands of the citizens of this country, who are infinitely more efficient in its deployment than any Govt or Company.

Last edited by PGA : 24th May 2022 at 18:49.
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Old 24th May 2022, 18:54   #7956
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Re: The Official Fuel Prices Thread

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Originally Posted by N.A.GTC View Post
CNG in Delhi is over 73 Rupees.

This price for petrol was considered high at a time.

;_;

CNG is over Rs. 75/kg in Delhi now
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Old 24th May 2022, 19:58   #7957
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Re: The Official Fuel Prices Thread

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Originally Posted by PGA View Post
https://m.economictimes.com/industry...w/91740258.cms

Been seeing these kind of articles for a few days now. I fail to understand it, the base price of fuel is not being managed, only the taxes are being reduced to increased, then why this Kolaveri.

Govt has taken this step not under duress of public pressure, there has been no rallies or demonstrations asking for it, but under it's own realisation that things have gone beyond the threshold.
Exactly my thoughts. The government actually makes money on fuel. This government in particular has used fuel taxes as a means to keep the cash flowing through to the coffers. And now when inflation has gone beyond limits and RBI had to step in to take conciliatory measures, only then has bells started ringing in the finance ministry. But now it's already too late. Effects of this reduction will only bear result after a substantial amount of time.

And just to make things clear, the government is still making money. Just that in place of 10, it'll now make 6 or 7 bucks. Simple as that!
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Old 24th May 2022, 20:02   #7958
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Re: The Official Fuel Prices Thread

^^ On the economic times article, I feel the private oil retail companies should sue the PSU oil companies for abusive dominant market position as they claim under recovery due to the orders of their political masters.

I also read that Russian crude (discounted?) import share is now in fourth spot with 6% in April compared to negligible share three months ago. Hope we increase it more so that prices will be manageable for at least few months.
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Old 24th May 2022, 21:29   #7959
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Re: The Official Fuel Prices Thread

Now a look at this news link will reveal that petrol and diesel retailers are losing amounts of some lakhs post the central excise (some state VAT too) cuts. They claim that they had bought their stocks by paying the higher duties during recent times. With the reductions effective, they are compelled to retail fuel at reduced prices.

The moot question is when these retailers gain in lakhs due to windfall profits, this is never reported. When these duties are suddenly raised, the retailers have old stocks bought paying lower duties. They pocket the amounts as and when duties are raised.

https://m.economictimes.com/industry...w/91751617.cms
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Old 25th May 2022, 10:30   #7960
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Re: The Official Fuel Prices Thread

State wise petrol prices as of 2 days ago.
Attached Thumbnails
The Official Fuel Prices Thread-282380285_10209677466729686_437598861658452833_n.jpg  

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Old 25th May 2022, 13:01   #7961
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Re: The Official Fuel Prices Thread

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Originally Posted by BoneCollector View Post
The central government has decreased the central excise duty on petrol by Rs.8/- and Rs. 6/- on diesel (per liter). That makes petrol cheaper by Rs. 9.50/ liter and Rs. 7/ liter on diesel.

Reminds me of what amazon and Flipkart do during their festival sales.
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Old 30th May 2022, 17:40   #7962
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Re: The Official Fuel Prices Thread

Petrol Dealers across 24 States to not buy Fuel on 31st May.

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Petrol Dealer association has called for oil marketing companies to come to the table to discuss reimbursements over the non-increase of dealer margins and recent excise cuts.
70,000 fuel pumps will follow no purchase on May 31, 2022, across India.

- 400 fuel pumps in Delhi will participate

- 30 lakh litres petrol purchased every day in Delhi

- 27 lakh litres diesel purchased

- About 6500 fuel pumps participating in Maharashtra

- Fuel pumps to be closed for 3 hours only in Rajasthan between 7-11 pm.

Source

Last edited by Venkatesh : 30th May 2022 at 17:45.
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Old 30th May 2022, 22:40   #7963
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Re: The Official Fuel Prices Thread

Does Essar sell fuel at a slightly higher cost (like Shell) in Bangalore, or in any other city for that matter?
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Old 31st May 2022, 11:01   #7964
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Re: The Official Fuel Prices Thread

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Originally Posted by Nalin1 View Post
Does Essar sell fuel at a slightly higher cost (like Shell) in Bangalore, or in any other city for that matter?
Yes, Essar (now Nykaa) mostly have 2 Rupees higher retail price. In Chennai, HP retails at Rs.102.82 and Essar retails at Rs. 105.1. I tanked up regular petrol at HP yesterday.
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Old 31st May 2022, 11:57   #7965
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Re: The Official Fuel Prices Thread

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Originally Posted by thanixravindran View Post
Yes, Essar (now Nykaa) mostly have 2 Rupees higher retail price. In Chennai, HP retails at Rs.102.82 and Essar retails at Rs. 105.1. I tanked up regular petrol at HP yesterday.
That would be Nayara, not Nykaa.

In BLR, the difference was few paise earlier, not sure if things have changed now.
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