[sumeethaldankar]

A day after slashing excise duty on petrol and diesel prices by Rs 2 per litre, the Centre now plans to write to all state chief ministers to cut tax on fuel.


http://indiatoday.intoday.in/story/e...1/1061169.html

[dailydriver]

Originally Posted by sumeethaldankar

A day after slashing excise duty on petrol and diesel prices by Rs 2 per litre, the Centre now plans to write to all state chief ministers to cut tax on fuel.

As the saying goes, "Charity begins at home".

Gujarat and Maharashtra have reportedly reduced the prices of petrol and diesel by employing different methods. While the former has given up 4% VAT, the latter has preferred to bring down the prices by a fixed margin. Either ways, the customer will find some much needed relief.

In a relief to the citizens of Maharashtra and Gujarat just ahead of Diwali, the two states have slashed value added tax (VAT)on petrol and diesel. The Gujarat government on Tuesday reduced the VAT on petrol and diesel by 4 percent, becoming the first state to announce a reduction in VAT while, the Maharashtra Cabinet has decided to slash prices of petrol and diesel by Rs 2 and Re 1 respectively, effective midnight.

The effective price of petrol in Gujarat from mid-night today will be Rs 66.53 per litre and that of diesel Rs 60.77 per litre... With this rate cut, the price of petrol will come down by Rs 2.93 and that of diesel by Rs 2.72 in the state....

Source

[Mohan Mathew A]

THe Price of fuel has been going up regularly over the last couple of months. Diesel is almost Rs. 65 in Mumbai and Petrol almost at Rs 79. No signs of the government cutting on the excise duty

Has it become the new normal or are people resigned to their fates that they are not expecting the government to cut down on the excise duty which they merrily hiked when prices were low promising to reduce when the prices drop

Sad state of affairs

[ptaneja]

Can we do anything ? Nothing buddy. All we can do is keep on sulking.

[dailydriver]

Originally Posted by Mohan Mathew A

Sad state of affairs

Sad indeed.

Petrol retails at around ₹72 here. Diesel costs ten rupees less. With newspapers forecasting crude prices breaching $80 in the near future, the retail prices are bound to increase. When the cat promised that it will take care of us - the mice of the society - we believed it. Now that it has conveniently broken the promise, we are left wondering who will bell the said cat!

[TorqueyTechie]

Sadly nothing can be done. Best thing would be to get petrol and diesel under GST and reduce the import duty. But alas, it will never happen in this country!

[Mohan Mathew A]

Originally Posted by TorqueyTechie

Sadly nothing can be done. Best thing would be to get petrol and diesel under GST and reduce the import duty. But alas, it will never happen in this country!

I don't see petrol and diesel coming under GST atleast for a couple of more years. As and when it is included i am sure it will be put in the same bracket as other so called 'sin goods' and be taxed at 28% + 15% (cess) or maybe more. This will not give much respite except for the fact that there will be uniformity (well, almost) in price across india.

[romeomidhun]

Do you think Petrol and Diesel will be put under the 28+15% tax bracket and will be made cheaper by around Rs 20 per litre? Is there any product whose rates are slashed because of GST?

At max, they will create a new brackets 56 + 50% and 56 + 60%, and bring Petrol and Diesel under that. Don't expect anything "acha" than this.

[TorqueyTechie]

Diesel price has shot to a record high of 61.88 rs/litre in delhi while petrol prices are already > 71rs. According to this article from NDTV, the prices have increased 3.4 rs/litre for diesel and 2.09 rs/litre of petrol.

In Bangalore over a period of 10 days, price has increased by 1.07 rs/litre while diesel has incresed by 1.65 rs/litre.

Source : GoodReturns

[carZest]

Latest petrol prices from www.mypetrolprice.com/:
====================================
Ahmedabad: 70.69
Delhi: 71.25
Bangalore: 72.36
Lucknow: 73.17
Chennai: 73.87
Kolkata: 73.89
Trivandrum: 75.1
Hyderabad: 75.45
Pune: 78.98
Mumbai: 79.13
====================================

[RavenAvi]

Filled up our XUV's tank earlier today.

Got a slight jolt when I noticed today's price for diesel = Rs 68.93/liter.

A quick check in the pump revealed today's price for petrol = Rs 73.73/liter.

So, the difference is now down to a mere 4 rupees and 80 paise.

Acche din?

Originally Posted by dailydriver

Petrol retails at around ₹72 here. Diesel costs ten rupees less.

You guys are lucky if the price difference between both fuel types is still 10 rupees or more over there.

[dailydriver]

Originally Posted by RavenAvi

You guys are lucky...

You can say that. But for long, we had one of the highest rates for both petrol and diesel. The difference between the two fuels too was in the range of ₹15.

From your example, we can almost conclude that purchasing a diesel run car makes lesser and lesser sense by the day. One is left wondering whether the steadily increasing diesel prices is a sign of government's covert attempts to discourage purchase of diesel vehicles.

[RM Motorsports]

Oil prices spurt, petrol crosses Rs 80 in Mumbai

http://www.rediff.com/business/repor...i/20180123.htm

[MCR]

The fuel prices have surged again! In Bangalore Petrol is at 74.xx and Diesel is at 65.xx.

Petrol Price : http://www.checkpetrolprice.com/Curr...-Bangalore.php
Diesel Price : http://www.checkpetrolprice.com/Curr...-Bangalore.php

High time that the Excise duties are reduced or include these in GST!

[libranof1987]

Originally Posted by RavenAvi

Got a slight jolt

Come to Pune if you actually want a jolt.

Originally Posted by MCR

The fuel prices have surged again! In Bangalore Petrol is at 74.xx and Diesel is at 65.xx.

I was under the impression that Bangalore and Pune had similar prices but here's what my fuel logs say:

21-Jan: Rs. 80.36 /l
28-Jan: Rs. 80.46 /l

From the website, I gather that today it is 80.6!