[shankar.balan]

I paid Rs 71 per litre of petrol this morning.

[ptaneja]

What are the rates now in Gurgaon, Delhi ? Heard there was a reduction ...?

[glenmz]

Originally Posted by shankar.balan

I paid Rs 71 per litre of petrol this morning.

Wasn't the price Rs 76 earlier? Is there a Rs 5 cut?

[agambhandari]

Petrol in delhi is at 66 now

[shamanth]

Originally Posted by glenmz

Wasn't the price Rs 76 earlier? Is there a Rs 5 cut?

When price goes up, state taxes gets added. When price goes down, state taxes reduces. So you are seeing those extra reduction.

[sumzup]

Originally Posted by shamanth

When price goes up, state taxes gets added. When price goes down, state taxes reduces. So you are seeing those extra reduction.

Shamanth, not necessarily. In case of this reduction, there has been no role of excise and it is purely done on the global crude sentiment. Also, in our country, there are other factors that necessitate a drop of this magnitude. Well, lets at least use all that is saved for some good use. Cheers

[StarScream]

State-run oil companies plan to review fuel rates daily

Read more at:
http://economictimes.indiatimes.com/...campaign=cppst

[sgiitk]

Originally Posted by StarScream

State-run oil companies plan to review fuel rates daily

Obviously they are expecting more volatility in days to come. UK had it ages ago. Prices were revised more than once a day also. I always wondered while you were filling up, the price changed, then what will be applicable?

[sathya_g_m]

Currently there is a huge difference between neighboring states primarily because of the respective states tax. With GST being rolled out, what is the impact on Fuel? Will the rates be uniform across states?

[kpzen]

Diesel Price trend in Haryana during the year 2016.

[condor]

Originally Posted by sathya_g_m

With GST being rolled out, what is the impact on Fuel? Will the rates be uniform across states?

No, no impact yet. Petroleum is not yet included in GST.

[CarguyNish]

Originally Posted by Sree73

Oil Marketing Companies are planning for a daily price revision for Petrol/Diesel instead of the current method of fortnightly revision.

This is good for companies, but not for Dealers. Because, most outlets haven't been Automated. Also, if the price changes daily, the dealer will be selling at cheaper/higher price then what he purchased for, not acceptable when the margins are low & the product loss is high.
Also, the Installation guys will have a nightmare on adjusting prices daily for every city they supply.

This will be unsuccessful. Because it has more con's then pro's.

Originally Posted by condor

No, no impact yet. Petroleum is not yet included in GST.

Petroleum Products to be included in GST if all states agree.

[condor]

Originally Posted by CarguyNish

Petroleum Products to be included in GST if all states agree.

That is the future state. Whenever it happens.

Then again, technically it is included with a tax rate of 0%.

[sgiitk]

Originally Posted by sathya_g_m

Currently there is a huge difference between neighboring states primarily because of the respective states tax. With GST being rolled out, what is the impact on Fuel? Will the rates be uniform across states?

Zilch. At this point of time Fuel and Alcohol are out of the GST. I have heard that a few (three?) years down to line, fuel may be included.

[Sree73]

Originally Posted by sgiitk

Zilch. At this point of time Fuel and Alcohol are out of the GST. I have heard that a few (three?) years down to line, fuel may be included.

I read that the following are out of GST
1. Alcohol for human consumption
2. Petroleum Products
3. Electricity

Another tax, Road tax will remain as it is now. Will not roll into GST.