[m8002?]

Originally Posted by JD1

So what's the verdict going to be today? I believe crude price and $ was less volatile in last couple of weeks.
Saw a ticker in NDTV that Maharashtra government is introducing "drought tax" - 5% tax on petrol and other commodities that are not considered as essential - all the soft targets. So expect petrol prices to rise in MH !!

It seems to be for both petrol and diesel.
http://timesofindia.indiatimes.com/c...w/49167067.cms

[sgiitk]

MH tax amounts to ₹2 per litre on both fuels. There are other measures as well. I expect some cut this time round, with the possibility of another in a fortnight. After all Bihar elections are on.

[saket77]

JH Govt. hiked the VAT rate on fuel which has resulted in an increase in prices of petrol by Rs. 4.54 per litre. Now after the increase, VAT stands at 22% from the earlier 20%.

Initial proposal was also to hike diesel prices but probably that has been put on hold. The resultant increase in diesel would have been Rs. 4.21 per litre.

Currently (after the hike), petrol is retailing at 64.85 Rs/Ltr. in JH.

Regards,
Saket.

[Cowardly Lion]

Similarly for Maharashtra- drought relief. They can all thank Saudi Arabia for this windfall. Good time for govt's to correct their fiscal conditions and/or come up with some good public friendly projects. As long as these amounts are utilised well ...

[PatchyBoy]

Just in - Diesel prices hiked by ₹0.50. Petrol prices unchanged.

Source

[sgiitk]

@PatchyBoy; Very much in line with data last fortnight - some profit on Petrol and a nominal 0.72 loss on Diesel. Also, LPG prices have been cut!

[sumeethaldankar]

CNG prices to be reduced in Mumbai by a 1 rs or so.


http://timesofindia.indiatimes.com/c...w/49183539.cms

[civic-sense]

TOI: Diesel price hiked by 95 paise per litre, no change in petrol rate

[sgiitk]

They are obviously trying to progressive deter diesels. However, until taxation is rationalised not much will happen.

[longhorn]

Originally Posted by sgiitk

They are obviously trying to progressive deter diesels. However, until taxation is rationalised not much will happen.

Doesn't seem to be the case if you look at the excise duty. It's around Rs 17.25 for petrol and somewhere between Rs 5 - 7.50 (can't recall the exact figure) for diesel. Moreover, if you look at the last few revisions(barring the current one and the one just before this), it was petrol rates that actually took the beating irrespective of whether prices got hiked or dropped. The gap between both fuels is still around 15-16 Rs now instead of being around Rs 10.

[sohu9]

Originally Posted by sgiitk

They are obviously trying to progressive deter diesels.

I highly doubt that they are trying to deter diesels.

I think this is due to the ongoing elections in Bihar where there is a close contest. They don't want to give another point to the talking-heads. Diesel price rise does not directly impact most folks who are using 2 wheelers or petrol cars. Whereas petrol price increase will have a direct negative impact on those users.

[sgiitk]

If elections were the main consideration Diesel will not be hiked, instead Petrol will be loaded. Also, saves some fuel costs for canvassing!?

[JD1]

Petrol price cut by 50 paise. No change in diesel price. Second time this month when petrol car owners came ahead - one of those rare months

http://economictimes.indiatimes.com/...w/49609110.cms

[Karthik Chandra]

Petrol price in Chennai revised to Rs. 61.95 with effect from midnight, diesel prices remain unchanged.

[sgiitk]

I think these price revisions twice a month are becoming pretty routine and old hat. Maybe this thread should be discontinued.