The Official Fuel Prices Thread

srishiva · 17th October 2018, 20:54

Quote:

Originally Posted by naveenroy

CA has the highest gas prices. For a reason. I don't think you can compare it to prices in the rest of the US.

As I keep saying, wait for the elections, prices will hit rock bottom.

I did mention that other states should have lesser price. Checked the prices in 1998, it was 23 rupees in India. Still if you look at multiples we are little worse.

carboy · 17th October 2018, 22:10

Quote:

Originally Posted by srishiva

I did mention that other states should have lesser price. Checked the prices in 1998, it was 23 rupees in India. Still if you look at multiples we are little worse.

The current high prices of Petrol in India are because of excise duty increased in the last 4 years.

In 2013, 1$ = Rs 63 & Oil Barrel was 115$ a barrel.
So 1 Barrel was Rs. 7245 & Petrol was Rs. 83 a liter at the pump

Now, 1$ = 72 & Oil Barrel is 77$ a barrel
So 1 Barrel now is Rs. 5544 & Petrol is Rs. 88 a liter at the pump.

This is simple math showing that the main thing responsible for high petrol prices currently is the astronomical increase in taxes in the last 4 years. Excise duty on Petrol was increased 12 times.

jpcoolguy · 18th October 2018, 08:52

After a pretty long time, there is a marginal reduction (excluding the reduction of INR 2.50 by Govt) of both Petrol and Diesel prices here in Chennai. Petrol reduced by 22 paise (retailing at 85.88) and Diesel by 11 paise (retailing at 79.93).

One thing interesting to note is that after the reduction of 2.50 by govt., the diesel prices kept increasing more than that of Petrol and now when price is reduced Petrol is reduced more than that of Diesel. Now, this has reduced the gap between Petrol and Diesel prices to less than INR 6, whereas earlier the gap was in the range of INR 7-8 in Chennai. Anyways, I am not complaining as I don't have a diesel vehicle and will be more than happy if Petrol is at par with Diesel in terms of pricing.

aargee · 18th October 2018, 09:14

Quote:

Originally Posted by jpcoolguy

will be more than happy if Petrol is at par with Diesel in terms of pricing.

This is what I assume will happen before May 2019 elections. Instead of increasing the excise taxes astronomically, would've been awesome if the govt worked on Swiss banks!!

sgiitk · 18th October 2018, 10:40

@jpcoolguy; do not expect any long term improvement in the rupee. So other things follow. In fact the NIFTY is expected to drop another 300 points or so.

sgiitk · 18th October 2018, 19:24

Today aftert a long time fuel prices have fallen, about 5p for Pettrol and 15p fo Diesel. Cause is the crash in Brent by about $2. Let is wait for the trend.

carboy · 18th October 2018, 20:18

Quote:

Originally Posted by sgiitk

Today aftert a long time fuel prices have fallen, about 5p for Pettrol and 15p fo Diesel. Cause is the crash in Brent by about $2. Let is wait for the trend.

May be they should increase excise duty to compensate for the fall.

TusharK · 22nd October 2018, 16:28

Odisha: Diesel gets more expensive than petrol

For the first time in India, the price of diesel has surpassed the price of petrol in the state of Odisha. On Sunday, diesel was retailing at Rs. 80.78 per litre, while petrol was priced at Rs. 80.65 per litre in Bhubaneshwar.

The Official Fuel Prices Thread-diesel-price-odisha.jpg

Usually, diesel has a lower base price and lower taxes and dealer commissions compared to petrol. However, the base price has gone up by around Rs. 5 in recent times. Unlike other states, where VAT on diesel is lower than on petrol, the state of Odisha charges 26% VAT on both petrol and diesel. Therefore, diesel is now more expensive than petrol.

According to a media report, dealers are purchasing fuel from oil companies at Rs. 43.49 per litre for petrol and Rs. 48.02 per litre for diesel. The central government charges an excise duty of Rs. 17.80 per litre on petrol and Rs. 13.83 per litre on diesel, while dealer commission is around Rs. 3.50 and Rs. 2.50 per litre for petrol and diesel respectively.

Source: TOI

Link to Team-BHP News

shreyan_k10 · 22nd October 2018, 16:54

Quote:

Originally Posted by TusharK

Odisha: Diesel gets more expensive than petrol

I went to my hometown (Dhanbad, JH) last week. While petrol retailed at 78.XX/l, diesel retailed at 77.XX/l.

jpcoolguy · 30th October 2018, 13:54

Will this have any impact on the fuel prices, if this alliance ever becomes a reality?

https://www.businessinsider.in/india...w/66331991.cms

saket77 · 30th October 2018, 14:15

Filled up petrol today for 76.40 here in Ranchi after a slew of recent cuts. Diesel was Re. 1 less than petrol.

So, after a high of Rs. 82.46 for which petrol sold on 04th Oct, there has been a cut of Rs. 6.06. Point to note is that out of this, a cut of Rs. 5/- was effected by the OMC + Central Govt. + State Govt. So, the net effect of the fall in crude is just Re. 1!

ashis89 · 30th October 2018, 14:32

Quote:

Originally Posted by saket77

So, after a high of Rs. 82.46 for which petrol sold on 04th Oct, there has been a cut of Rs. 6.06. Point to note is that out of this, a cut of Rs. 5/- was effected by the OMC + Central Govt. + State Govt. So, the net effect of the fall in crude is just Re. 1!

After the price cut by the Govts., the crude prices further went up by more than Rs. 2. In Hyderabad, my last refill of Petrol on Oct 16 @ Rs. 87.87/L. Yesterday the price was Rs 84.3/L, a fall of more than Rs. 3/L since my last refill.

Note: Telangana state govt. didn't cut any excise duty.
The prices still went up after my last refill and then started falling. So the net fall in prices would be more than Rs 3.5/L.

theredliner · 30th October 2018, 14:46

Quote:

Originally Posted by TusharK

Odisha: Diesel gets more expensive than petrol

According to a media report, dealers are purchasing fuel from oil companies at Rs. 43.49 per litre for petrol and Rs. 48.02 per litre for diesel. The central government charges an excise duty of Rs. 17.80 per litre on petrol and Rs. 13.83 per litre on diesel, while dealer commission is around Rs. 3.50 and Rs. 2.50 per litre for petrol and diesel respectively.

Great news!
About time the dirty fuel is at least charged on par with petrol all over the country. It is criminal that even at this stage, Rs.4 extra of excise and Re.1 extra of commission are charged on petrol. Hoping for the day when both are taxed at the same percentage and same amount of commission is passed on to the dealers for both.

jpcoolguy · 5th November 2018, 15:12

Now that India is allowed to import oil from Iran, will the status quo remain, that is, no immediate increase in fuel prices? In Chennai, the difference between Petrol and Diesel is reducing everyday in line with the reduction of fuel prices and gap stands at INR 4.27 today.

Vitalstatistiks · 5th November 2018, 15:38

Quote:

Originally Posted by jpcoolguy

Now that India is allowed to import oil from Iran, will the status quo remain, that is, no immediate increase in fuel prices? In Chennai, the difference between Petrol and Diesel is reducing everyday in line with the reduction of fuel prices and gap stands at INR 4.27 today.

The prices should fall further, right? Iranian crude is cheaper, payable in rupees and comes over a short haul.

18th October 2018, 08:52	#6573
jpcoolguy BHPian Join Date: Jan 2016 Location: Chennai Posts: 614 Thanked: 1,541 Times	Re: The Official Fuel Prices Thread After a pretty long time, there is a marginal reduction (excluding the reduction of INR 2.50 by Govt) of both Petrol and Diesel prices here in Chennai. Petrol reduced by 22 paise (retailing at 85.88) and Diesel by 11 paise (retailing at 79.93). One thing interesting to note is that after the reduction of 2.50 by govt., the diesel prices kept increasing more than that of Petrol and now when price is reduced Petrol is reduced more than that of Diesel. Now, this has reduced the gap between Petrol and Diesel prices to less than INR 6, whereas earlier the gap was in the range of INR 7-8 in Chennai. Anyways, I am not complaining as I don't have a diesel vehicle and will be more than happy if Petrol is at par with Diesel in terms of pricing.
	(1) Thanks

18th October 2018, 10:40	#6575
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: The Official Fuel Prices Thread @jpcoolguy; do not expect any long term improvement in the rupee. So other things follow. In fact the NIFTY is expected to drop another 300 points or so.
	() Thanks

18th October 2018, 19:24	#6576
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: The Official Fuel Prices Thread Today aftert a long time fuel prices have fallen, about 5p for Pettrol and 15p fo Diesel. Cause is the crash in Brent by about $2. Let is wait for the trend.
	() Thanks

22nd October 2018, 16:28	#6578
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,272 Thanked: 55,848 Times	Re: The Official Fuel Prices Thread Odisha: Diesel gets more expensive than petrol For the first time in India, the price of diesel has surpassed the price of petrol in the state of Odisha. On Sunday, diesel was retailing at Rs. 80.78 per litre, while petrol was priced at Rs. 80.65 per litre in Bhubaneshwar. Usually, diesel has a lower base price and lower taxes and dealer commissions compared to petrol. However, the base price has gone up by around Rs. 5 in recent times. Unlike other states, where VAT on diesel is lower than on petrol, the state of Odisha charges 26% VAT on both petrol and diesel. Therefore, diesel is now more expensive than petrol. According to a media report, dealers are purchasing fuel from oil companies at Rs. 43.49 per litre for petrol and Rs. 48.02 per litre for diesel. The central government charges an excise duty of Rs. 17.80 per litre on petrol and Rs. 13.83 per litre on diesel, while dealer commission is around Rs. 3.50 and Rs. 2.50 per litre for petrol and diesel respectively. Source: TOI Link to Team-BHP News
	(3) Thanks

30th October 2018, 13:54	#6580
jpcoolguy BHPian Join Date: Jan 2016 Location: Chennai Posts: 614 Thanked: 1,541 Times	Re: The Official Fuel Prices Thread Will this have any impact on the fuel prices, if this alliance ever becomes a reality? https://www.businessinsider.in/india...w/66331991.cms
	() Thanks

30th October 2018, 14:15	#6581
saket77 Distinguished - BHPian Join Date: Dec 2012 Location: Ranchi Posts: 4,396 Thanked: 12,046 Times	Re: The Official Fuel Prices Thread Filled up petrol today for 76.40 here in Ranchi after a slew of recent cuts. Diesel was Re. 1 less than petrol. So, after a high of Rs. 82.46 for which petrol sold on 04th Oct, there has been a cut of Rs. 6.06. Point to note is that out of this, a cut of Rs. 5/- was effected by the OMC + Central Govt. + State Govt. So, the net effect of the fall in crude is just Re. 1!
	(2) Thanks

5th November 2018, 15:12	#6584
jpcoolguy BHPian Join Date: Jan 2016 Location: Chennai Posts: 614 Thanked: 1,541 Times	Re: The Official Fuel Prices Thread Now that India is allowed to import oil from Iran, will the status quo remain, that is, no immediate increase in fuel prices? In Chennai, the difference between Petrol and Diesel is reducing everyday in line with the reduction of fuel prices and gap stands at INR 4.27 today.
	() Thanks