[azeemhafiz]

Unbelievable. Petrol prices in Bangalore to be close to Rs. 75 per liter.

Even more ridiculous is the reason given, when the hike was announced last time the per barrel cost was at $105 and now its in the $80 range?? Why no reduction there.

My faith in democracy has been blown into pieces.

[markmytravel]

That's really discomforting. What options do we have to deal with it:

1. Go on another movement like "Fight against curroption"
2. Start pooling even for mall-shopping and vacations.
3. Public transport - without proper schedule and the crappy system, it might be impossible to rely no PT.

[Hayek]

@lurker, @gto don't see what is fraudulent about raising petrol prices. People are mistakenly claiming that oil prices are at USD 80 odd per barrel. That is only a benchmark called WTI, which is based on delivered prices in a landlocked region in the middle of the US. The more relevant benchmark is Brent, which is at 112 per barrel. The only fraud being perpetuated on the people of India is the criminal waste in the form of the diesel, kerosene and LPG subsidies - which is being financed by a massive increase in money supply which is the real reason for high inflation in India. High inflation, massive deficits, unsustainable susbidies - these are a recipe for bankrupting India.... MMS will take India a full circle.

[nomadabhi]

so when are the banks coming up with the new schemes?

EMI and Loans on Petrol

Jokes apart, calculations do make sense in such situation. With my daily running, it would not make any sense to wait to fill up unless I get syntax fitted on roof.

[Shubz]

I did not do the "wait" deliberately, My fuel indicator started glowing last night and I had driven almost 30 odd kms so had no choice but to fill in today. and Luckily i was the first one to drive into the HP station next to Hotel Capitol.

I come to work (i work evening hours) and I see the 3.14 per liter hike! so unwittingly i saved up that "90 odd buck" lol!

And what I saved today I will burn it tomorrow as Friday is a fuel guzzling day (i drive my Jeep)

[scopriobharath]

In india prices that once go up will never come down. Petrol at this rate will touch Rs 100 by new year itself. That will be Govt's gift for the new year to the common man. Govt can do something but will not do for the common man. I wish elections happen once in 6 months. It is only during election time that govt does not make any hike in fuel prices / commodities.

Originally Posted by azeemhafiz

Unbelievable. Petrol prices in Bangalore to be close to Rs. 75 per liter.

Even more ridiculous is the reason given, when the hike was announced last time the per barrel cost was at $105 and now its in the $80 range?? Why no reduction there.

My faith in democracy has been blown into pieces.

Well Said. They will find a reason to increase the price, but whatever reason is cited for a price reduction, no company or the govt will be ready to reduce the price.

In USA the petrol prices change daily (read it as increase and decrease) as per the barrel rates. Here the rates would increase if the barrel increases and will stay there or further increase if the barrel rate comes down.

[nkrishnap]

Originally Posted by markmytravel

That's really discomforting. What options do we have to deal with it:

1. Go on another movement like "Fight against curroption"
2. Start pooling even for mall-shopping and vacations.
3. Public transport - without proper schedule and the crappy system, it might be impossible to rely no PT.

No offense to you, but its very easy to comment in front of the computer.

Bangalore Public Transport is by far the best in the country (excluding other modes read as Metro and sub urban trains). I would rely on Bangalore BMTC than other city transport systems.

[akj123]

The most irritating thing for a consumer is the amount of taxes that we pay for petrol. I remember reading articles that stated various taxes count for 50% or more of the price paid at the pump.

In fact, every time price goes up govt. makes more and more money as the tax part goes up. And then the govt. says it is subsidized !!

The oil companies are claiming this is because of rupee falling to 48. The change has come in just last 3-5 days, does that affect them so much ?? Are they going to revert the hike if rupee goes back to 45 next week ??

They should link the prices to the barrel rate (WTI/Brent or some mix - whatever), let it vary daily, and have some reasonable amount of tax - say like the 12% VAT. Not the current system of compounding of sales/custom/god knows how many other types of tax.

Does anyone know if the new proposed GST model of taxation will help us ?

[karty_83]

Oh boy are they hitting us hard or what !!

Here in Bangalore, a liter of petrol ll set us back by almost Rs.75. Around a year back or so it was hovering around 52 and whereabouts. The rise has been rather steep. At this rate, one shouldn't be surprised if we need to shell out a 100 bucks in a years time.

Whats the road ahead for petrol cars ?

[lurker]

It looks like they are punishing the middle-class for massive support to the BR-Anna movement and abuse on the ruling clique. Dollar price increase claim is vacuous since dollar price will reduce also, but now it seems to me that the so-called dollar price increase was manipulated as well to justify the price hike.

I agree with GTOs contention that they already have a highly inflated target price in mind are just busy finding reasons to implement it. As it is oil and petroleum industry is in pocket of few influential private players (read Mukesh), but now it looks like the entire cabinet has sold out en masse.

[urzdeepu]

We need another "Anna" to start the protest against this corruption. What does UPA and these petroleum companies think?? Where are our automotive companies?Its high time to make a hybrid vehicle which is economical for the common man to own..Tatas,Mahindras,etc are you hearing this?

[ac 427]

Originally Posted by GTO

Slow poison, really. The govt & oil companies must have already decided on their "target" rate and are gradually coming to that with small, frequent price hikes.

On the one hand, they say they want to control inflation. My foot!!!!! 3 years back, 75 bucks a liter would have been unthinkable. Now, it's staring us in the face.

Wait till they hit 90. 90 is the figure that the govt is aiming, by mid next hear petrol is going to cost more than 90 a litre.

That makes me wonder how redundant are our supposed ministers in controlling the price of Petrol.

Also it makes me wonder when will the govt promote alternate fuels - I believe by just making alternate fuels cheaper is not the way, I believe that the car companies need to be provided incentives in producing cars with alternate fuels.

cheers,
ac

[raj_srini]

Damn, I just bought a petrol car in the hope that the price delta between Petrol and Diesel would not widen in the short and long term. The Government seems to have gone all berserk, especially at a time when inflation is at an all time high.

Sonia/Rahul ji - Why are you doing this to us?

[scopriobharath]

Govt will not do anything for the common man / middle class.

There is a country (dont know the name) where there is a 60% income tax. the govt charges 60% tax on income but FREE FOOD with QUALITY is provided to all citizens. Fuel, electricity is subsidized or rather almost free. your savings is almost the 40% of your salary, which is very very good by any standards.

Indian govt will take only the 60% part of Tax and tax us. It will not take the remaining half of what the other country does.

Originally Posted by urzdeepu

We need another "Anna" to start the protest against this corruption. What does UPA and these petroleum companies think?? Where are our automotive companies?Its high time to make a hybrid vehicle which is economical for the common man to own..Tatas,Mahindras,etc are you hearing this?

Even if there is a similar movement by Anna Hazare or someone similar and even if the person wins the battle, He will be killed / assasinated and things will be back to square 1. If gandhi can be assasinated, I am sure anyone else can be assasinated.

5 years in jail, file a mercy petition in court, win the petition and come out scott free. Enjoy the rest of your life with the money that you have.

In india you can get away with anything.

P.S : this is my personal view and based on trends that i have seen. This is not intended to hurt anyone or thier feelings.

[niv26]

Is there any facebook page or something where everyone can protest at least..