[ptaneja]

Here you go !
Finally !

Excise duty on petrol has been reduced by Rs 5 and that on diesel by Rs. 10...

https://m.timesofindia.com/business/...RvZKEr3Xr2x5iC

[NoLurkerForLong]

Originally Posted by whitewing

They gave up almost 1.5L Cr in 2019 value and this benefited only large companies (>400Cr). We can only hope that due to this, some manufacturing jobs eventually get created.

Manufacturers don't just produce more when have more money in their pocket. In real world when there is increased demand companies would even borrow and expand their capacity as they know there is buyer(s) in the market.

With handing out money to the producers, we just fill-in their pocket with more profit.

[Carmine_pepper]

Interesting how this thread is populated by members venting their frustration at government and some still managing to see the other side of the coin as regard to limited headroom government has when it comes to revenue.
Neutrals will note that

1. no one abusing the govt here will turn its supporter if the prices magically drops.

2. Most of us has accepted the high fuel prices as part and parcel of our life.

3. Most of us still arent extracting even 80 percent of the milege our rides are capable of (in open roads that is )

4. India somehow making it into t20 finals will magically reduce the pain for few days at least.

Okay i may have made up a point or two.
peace.

[Geo_Ipe]

Gotta fill up the car & motorcycle tomorrow itself!

Can't say when these clowns start increasing it again!!

[AnandB]

Originally Posted by Captain Slow

We Always fall for this!! Increase the price by Rs-/ 50 and then give a Rs-/0.50 paise reduction - or call it a Festival/Great Indian Sale

I'm a transporter with 100+ HCVs so yeah. Doesn't change my thoughts about the government.

[Pancham]

So effectively it will reduce the prices by INR 6.5 and 13 per litre for petrol and diesel respectively right ? Given that the 30% VAT will also get reduced.

[ashis89]

Originally Posted by Pancham

So effectively it will reduce the prices by INR 6.5 and 13 per litre for petrol and diesel respectively right ? Given that the 30% VAT will also get reduced.

Yes the VAT component on the respective fuel will also reduce. Overall reduction will be more.

In the next few days, the state governments might be forced to announce VAT rate cuts.

[Somz]

Too little too late. Though VAT percentage will reduce fuel rate, will state government do their part. Though Brent crude is hovering between 82$-86$ this week, how many days this oil companies will not revise their prices? Maybe this is a pre Diwali surprise.

[vishnurp99]

I hope the state governments( all parties) will also walk the talk now. At the bare minimum, I hope they don't increase VAT to eat up the gains that will accrue.

[Geo_Ipe]

On a lighter note...

[klgiridhar]

Some states have started their price reductions now.

[HTC]

Just to get some fresh air- me, wife and kids usually go to a nearby resturant which has outdoor seating under the trees. We get 2 coffees costing 10 rs each. But end up spending close to 50 rs on diesel as the hotel is 2.5kms far one way.

When I purchased my car in 2011, diesel was 35 rs per liter. Every thing has an impact due to fuel price increase. We are looking at tip of ice berg here. It is a double whammy for common people. Every business establishment has started marking up their charges to recover their losses during lockdown and prices will go up for everything due to fuel prices.

Not sure where our economy is heading to

[Akshay6988]

I find it hilarious when fuel prices increase - media says international oil corporates are raising prices, but when the prices decrease, it's "government gift to people" . Do these guys have even iota of shame left ? Absolutely disgusting. And guys, this is not price reduction, it should be termed as marginal price correction.

[jetsetgo08]

Finally, some relief. Although, barely adequate. Better late than never.

The price difference between per litre of petrol to diesel is Rs7.x in Hyderabad.

Noob question. With the excise duty cut, would the price difference between petrol and diesel go back to Rs.15-20 levels, in some states?

[motorhead123]

Originally Posted by Akshay6988

Well, I'm definitely voting in next elections

If this doesn't encourage people to go to polls, nothing will.
My hope is still not entirely lost and definitely voting next time!!!