[pulsar56]

My only reaction after seeing the news - Thank god, I have fuel in my car for the next 3-4 days.
I wouldn't have to join the mad rush of cars and bikes at the fuel pumps who are trying to save 100-150 Rs and waiting in queues for hours together!

[S_U_N]

Off-topic but I am not sure why food prices have kept on going upwards since last two years. Food and fuel inflation is 16% +.
Is there something wrong with the Govt?

[holysmoke]

Originally Posted by vnk77

From midnight.

I just tanked up from the petrol pump next my office after hearing the news.

hehe.. im sending my cars as well.
I am going on a 500km+ long drive tomorrow. Couldn't they have waited one day

[anonymous]

This was bound to happen and I understood that Government had to take this decision. What I do not understand it that Government takes these type of decision very quickly but when it comes to give some relief to common man, they take ages to decide. For example - The medical limit is 15000 per year. This was set around 10-15 years back, when the petrol would cost 10/15 Rs. Lt. Now Petrol price is 5 folds atleast so why do't they increase the medical limit to 75-80000K, just because by doing it, they are going to loose some more money from us?

[neo45007]

I would prefer taking out my car only on weekends.
There is no point paying Rs. 59 per litre in Bangalore and drive in worst of the worst city traffic.

UPA Govt is screwing up 'Aam Aadmi's' happiness everyday.
They are not able to control inflation, rising prices / fuel prices.

If I need 70 Ltrs of Petrol every month; I will be spending Rs. 350 more a month. Looks a smaller amount; but if you consider the rise in Petrol price early this year, the total hike for year 2010 will be Rs. 10+.

So, you end up paying Rs. 700 - 1000 more every month now.

Too bad !

[Newpunter]

I hope they reduce some of the taxes to compensate for this rise in fuel prices. Also, they should stop or atleast reduce the subsidy on Kerosene and LPG while they are at it.

[aseem]

Originally Posted by .sushilkumar

i Guess, this Hike was completely uncalled for. despite loosing money ( as per govt ) oil companies are still showing profits on their Balance sheets, don,t know how???.

IMO, this will hit the inflation to a record high , it's already hovering around 17 % , now operators will go on strike demanding hike in fares and blackmailing the govt, anyways it's people like Us ( common man ) who suffers the Most , first via High taxes, than via daily chores, whose price has obviously gone up due to fuel price hike .

Although deregulating the price is good in long run but govt can do away with excise duty and other levies imposed, which constitutes about 30-40 % of a litre of fuel.

a) First a global reccession followed by increased in spending by govts across the world resulting in lowering of interest rate, lower fuel prices, lower inflation

b) Than a partial recovery only before the world govts realized that all their spending doesnt come in air

c) Worldwide spclly in EU govts begin to raise taxes, increase interest rates, reduce wages

d) In India although the direct taxes decreased, the indirect taxes, levies, car registration costs, petrol etc increase

e) Now thats all fair, but when you can buy 3.6 ltr petrol in 90 Rs in US why the hell should we pay 54rs per litre. Of course you deregularize petrol but you dont tell the middle class that you take taxes, excise, levies to arrive at the final cost

f) finally govt is run by money of rich man and vote of poor man. Beech mein there is the middle man, that no one cares abou

[tanwaramit]

What the heck is this government upto !

They are saying they are deregularizing the prices on petrol and they have achieved it, What about Taxes ?

What are they doing for about 100% plus taxes going in and the cess.

Highway cess (despite we paying toll taxes on toll roads), education cess, state level taxes, etc etc.

How much money do they want to milk from common man ? They seriously need to consider dropping some taxes on the fuel now.

[echo77]

Monthly usage of LPG = 1 cylinder. Price = Rs 300, subsidy = Rs 250
Monthly petrol usage = Rs 1000, tax you pay = Rs 550

[sarmarishi]

oh thats great news! So there will be no difference between Shell and others now. If thats the case Shell will win in the long run like in Malaysia and other countries!

[jigbarai]

Old prices still apply. Might go up by evening.

Just had a short quick spin for a top-up.

[jigbarai]

Originally Posted by pulsar56

My only reaction after seeing the news - Thank god, I have fuel in my car for the next 3-4 days.
I wouldn't have to join the mad rush of cars and bikes at the fuel pumps who are trying to save 100-150 Rs and waiting in queues for hours together!

100 rs for cars ? Its more, a lot lot more Sir.

My car takes in 40 lts tops.
So a 4 Rs per liter increase means a net savings of 1600 rupees at old prices ! Absolutely worth ..

[poloman]

We are on the way to become a high cost economy like US and Europe. Already most of the food items here are as costly as in US.
Sad to see that some people supporting the Government decision.

[mjothi]

Originally Posted by tanwaramit

They are saying they are deregularizing the prices on petrol and they have achieved it, What about Taxes ?

This is exactly my doubt too. Will they revise these figures also for fuel?

Just noticed this.

http://economictimes.indiatimes.com/...ow/6090748.cms

Petroleum Minister Murli Deora had asked states to lower sales tax on petrol and diesel to cushion consumers from the impact of fuel price hike.

But will it happen? What about the central govt taxes?

Originally Posted by jigbarai

100 rs for cars ? Its more, a lot lot more Sir.

My car takes in 40 lts tops.
So a 4 Rs per liter increase means a net savings of 1600 rupees at old prices ! Absolutely worth ..

Excuse me. Are you sure it has two zeros after 16????

[bubbu64]

U sure with the math

40x4=160 or 1600. U want to stand in a long line for say a minimum 30 min or more to save Rs 160 while the engine is kept running to run the ac in the hot weather. And this is only a one time event.