[saket77]

So, according to a report, there is a marginal increase in fuel prices. This is the second increase in the week. Probably petrol is up by 14p and diesel by 10p.

Let's wait to see on what account this untimely increase might be effective.

Regards.

[CarguyNish]

Originally Posted by saket77

So, according to a report, there is a marginal increase in fuel prices. This is the second increase in the week. Probably petrol is up by 14p and diesel by 10p.

Let's wait to see on what account this untimely increase might be effective.

Regards.

Dealer commission has been increased I guess
Dont have any reason apart from that, this is done only on odd days and next price revision is on 15th October.

[volkman10]

Petrol price hiked for second time in four days by 14p/L, diesel by 10p/L , following increase in commission paid to dealers.

Petrol will now cost Rs 64.72 a litre in Delhi from midnight as against Rs 64.58 per litre currently. Diesel will cost Rs 52.61 per litre as against Rs 52.51 a litre at present

There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission.

Source

[sgiitk]

I do not like the bit about the 10/8p increase. Why could it not be clubbed with the price increase a week ago? Some bureaucrat forgot or what. Yes, the dealers probably need the small increase in their commission but I am sure there are better ways of handling it.

[lapis_lazuli]

Came across a news article in today's ToI, which says the next revision of fuel prices will actually make the fuels expensive owing to >50USD a barrel oil prices now. I wonder why the media doesn't remind the government, of the excise cushion, which, may be used to keep the price changes minimal. It seems to be conveniently forgotten : we increase excise now, to reduce it when crude price rises. Now, no one from the guv's office, mentioned what the effective "high" threshold was, unfortunately.

[dass]

Prices are set to go north during the next revision.

http://profit.ndtv.com/news/economy/...=home-business

I wonder when will all the excise tax that was jacked up be pulled back to provide some cushion?

[sgiitk]

@dass; I am expecting at least ₹5 this time round. Saudis are talking of $60 levels for crude. This time at least for the moment the cartel seems to be holding.

[Chetan_Rao]

Not a snide remark, but does anyone actually believe the 'we're hiking excise duty to build a price cushion' nonsense paraded out during the low crude price months?

[ramzsys]

Originally Posted by Chetan_Rao

does anyone actually believe the 'we're hiking excise duty to build a price cushion' nonsense paraded out during the low crude price months?

I was sure diesel price is set to get a hike so i filling up the tank after returning from the 350 km trip to the nearby tourist trap. wise job, ain't it?

And they say, we get the government we deserve?

[condor]

Originally Posted by ramzsys

.. And they say, we get the government we deserve?

Well, it's the pricing methodology. The moment we moved away from a fixed price mechanism, the pricing became open to manipulation. nott about the government of the day.

Originally Posted by ramzsys

.. so i filling up the tank after returning from the 350 km trip to the nearby tourist trap. wise job, ain't it?

Tourist Trap ! Ah well, many places are such these days

[sgiitk]

I have been watching the channels. Saudi's expect $60 (if the deal goes through), while Goldman Sachs is talking of $43 if it crashes. It is not obvious what will happen, since there are powerful forces on both sides. I suspect the current $50 is more like it.

[RSR]

So Essar's refinery & retail outlets are no longer going to remain with Essar, but are set to become Russkie Rosneft's local arm:

http://m.economictimes.com/industry/...w/54819849.cms

For me, that means adios to filling up at Essar outlets!

As much as I intensely dislike the three main OMCs of the PSU oil cabal for their crooked shenanigans in running a heinous, continued & worsening extortion racket against petrol users at the insistence of the diesel lobby, I hate the rogue Russkie regime to a much greater extent!

It's a pity as far as I'm concerned. Essar were opening more outlets at a steady pace, and these were quite decent - they may not be as good as Shell's outlets but they're certainly not as bad as the typical PSU outlet (not the showpiece COCO ones).

However, these Essar outlets don't need to care about losing some individual customers (like me) after the stake sale. For there are others who would gleefully rush to Rosneft's local outlets for filling up.

For instance, there is one particular newspaper/media group based out of Chennai, who always indirectly promote the idea that retail outlets which are not affiliated to the PSU oil cabal should be shut down by hook or crook in order to promote their beloved government-ownership-of-everything economic model (which has proven to be a pathetic, disastrous & miserable failure everywhere). These fellows would be the first to completely ditch the PSU oil cabal's pumps and fill up solely at Essar outlets after the stake sale to Russkie Rosneft.

[M00M]

I have always refrained from commenting unnecessarily on this topic and have been highly vocal with friends about the continuing increase in the cost of fuels in India especially when price per barrel has fallen sharply however the more i get into the research i have realised that atleast the current government has been using the increased taxes to offset other expenses like the growing Defence Budget, Infrastructure, and other schemes. I do agree that price of petrol should not be more than Rs 50 /- per litre in a place like Mumbai but the Government in all the states and the centre has to collectively reduce their taxes so that price stays competitive at Rs.50 per litre.

With fuel being left out of GST it is another cause of concern but then they (the governments) need a cash cow to fund their increasing expenditures and therefore this is the easiest. If we go to war with Pak, there is another chance of rapid increases in fuel to fund everything and the inflation it causes.

I only hope that Rupee Strengthens over a period of time, Electrics like Tesla and Hybrids attract a very low GST and we the people continue to receive better Infrastructure, better facilities so that there is some solace that we are directly funding the growth of our nation.

[longhorn]

Current govt does not know the meaning of the word 'budget'. Every govt worth its salt will first find the means(funds) and then declare the schemes. The means may come from tax/cess/surcharge introduced during the annual budget exercise.

This is the only govt I have seen first declaring schemes and then introducing tax/cess/surcharge to raise funds for the same, and it kicks in on any random day as and when they please.(does krishi kalyan cess / dynamic ticket pricing for railway tickets ring a bell?)

Also, now that this govt is partly funding all new/ongoing road projects, isn't it high time the tolls are revisited and revised downwards?

[Chetan_Rao]

Originally Posted by longhorn

Current govt does not know the meaning of the word 'budget'......

Aren't they all the same? They act like the quintessential credit card wielding spendthrift: swipe card for instant gratification, knowing full well one doesn't have money in the bank to cover the bill. Then indulge in financial gymnastics to somehow meet minimum obligations, and continue to rack up debt one has no intention to fully repay, but just enough to keep the credit line open. The govt. is the spendthrift, the tax payer the card. No credit limits either, so swipe away to glory