The Official Fuel Prices Thread

veyron1 · 1st May 2006, 15:42

gaahh....10rs per litre..!!! they have gone mad, i tell you...MAD...!!

did somebody ever care to ask the petro guys, how exactly are these "LOSS" figures arrived at??? because they sure as hell aren't putting money from their own pockets to refine crude; are the losses on a YoY basis? QoQ basis? or on world-wide parity-price basis..?? well, who knows...as long as govt. keeps compensating them for the self-induced subsidies, everything is A-OK....

Zappo · 1st May 2006, 18:01

Quote:

Originally Posted by veyron1

gaahh....10rs per litre..!!! they have gone mad, i tell you...MAD...!!

So says the ET :( All these buggers heading these petro companies should be sent to an assylum and checked for mental imbalance. I mean, ttheek hai, they figure that when they ask for a rupee's hike they get a much reduced hike after much deliberations. But just for that reason to ask for a ludicrous hike of Rs.10.50 per liter?!!! Should be caned just for making that stupid statement/demand.

And I do not believe their loss figures... Its all politics. That is what it is. Otherwise with such humongous losses across the country these companies would have submerged in the sea by now. However this circus is going on since the last three years. Every two months they raise the hullabaloo of how they are loosing and will go down unless government increases prices... and then to add gravity to their statement they also tell how the last price hike only covered 10% of the actual requirement and they have been burdened. At this rate by now IOC and their ilk should have been auctioned after filing for bankruptcy. Instead every year they increase their revenues and become reacher when the annual results are declared. IOC figures in the Fortune-500 list as well :P

amit · 2nd May 2006, 06:10

Talking about politicians, here is the 85 year old mayor of Mississauga, about 50kms from Toronto, who still drives herself. Ignore the accident part because if she had a convoy of 20 cars like Indian politicians then the accident would never have happened!

zulfikar · 2nd May 2006, 07:35

THIS IS SAD...

BUT last night after i reached Bangalore i went to fill my bike Speed was 52 Per Liter not much difference.

RJK · 2nd May 2006, 08:39

Quote:

Originally Posted by amit

Talking about politicians, here is the 85 year old mayor of Mississauga, about 50kms from Toronto, who still drives herself. Ignore the accident part because if she had a convoy of 20 cars like Indian politicians then the accident would never have happened!

Oye,

I'm surprised that mayor of Missisauga is not desi or punjabi..

(kidding..don't take offence)

balenopower · 2nd May 2006, 09:38

anybody interested in a well maintained suzuki baleno???:( and yeah a nu karizma as well...might as well drive around in a reva...

Sush · 2nd May 2006, 10:36

I guess the Metro project will assume more importance now.

jkdas · 2nd May 2006, 10:46

such a OT thread! Guys back to topic pls

stangman · 2nd May 2006, 21:45

i think carpool is the future.................

vinu99@gmail.co · 6th May 2006, 13:21

Why can't someone bring a hybrid car! Its high time, I need one badly now ;-)

arif_t01 · 6th May 2006, 13:48

Thank God......we have diesels - Fiat Uno 1.7 D and Ford Fiesta 1.4 Tdci.....both with good mileage of 14km/l with A/C in the city and 18-19km/l with A/C on the highway.......but only for the present......if it goes like this, i dont know what???

sumitkalindi · 6th May 2006, 14:30

I am going to put a AC motor in place of my car engine and run it using a kerosene generator.

I am sorry guys but soon you are going to see my new WagonR "puttering around"

autozealot · 6th May 2006, 15:16

Hello guys! I tell you there will be no major difference in the metros especially even if petrol costs Rs. 60/ ltr.
The main problem will be diesel prices with truckers going on a strike and a subsequent increase in consumer goods etc..
Not again Mr. Minister

Good-day people!

rkg · 6th May 2006, 15:33

Hi!
as per ex petro minister it costs Rs 16 odd for litre of petrol for govt. rest all are taxes( central customes, central excise, state sales tax, state octroi etc etc etc) petro products are not covered under VAT. so there is cascading effect of indirect taxes on petro products. the losses made out are on paper. govt can reduce the taxes in proportion to international crude prices in such a way that they are tax neutral. ex petro minister was advocating this. what actually govt is doing is in the name of rise in crude prices they are actually getting more and more.
imagine the case where crude is 30 $ and customs and excise at 150%( actual figures i do not know) then the rate will be 30+45 $= 75$
now crude is 72$ our great govt wants the excise and customs at the same old rate say 150% and it wants oil companies to sell at old rates . so govt will get more taxes bec they are taxing base price of 72$ instead of 30$. oil companies will end up in notional losses.
what manisankar iyer was advocating was u can reduce the rates in such a way that govt gets same 45$ instead of 108%( 150% of 72$).but finance minister dont want it
i hope iam clear

jkdas · 10th May 2006, 20:45

http://in.rediff.com/money/2006/may/10petro.htm

Hike petrol price by Rs 10, LPG by Rs 114: Ministry....

1st May 2006, 15:42	#181
veyron1 Senior - BHPian Join Date: Mar 2005 Location: Mumbai Posts: 1,424 Thanked: 54 Times View My Garage	gaahh....10rs per litre..!!! they have gone mad, i tell you...MAD...!! did somebody ever care to ask the petro guys, how exactly are these "LOSS" figures arrived at??? because they sure as hell aren't putting money from their own pockets to refine crude; are the losses on a YoY basis? QoQ basis? or on world-wide parity-price basis..?? well, who knows...as long as govt. keeps compensating them for the self-induced subsidies, everything is A-OK....
	() Thanks

2nd May 2006, 06:10	#183
amit Senior - BHPian Join Date: Feb 2004 Location: Mumbai Posts: 3,717 Thanked: 451 Times	Talking about politicians, here is the 85 year old mayor of Mississauga, about 50kms from Toronto, who still drives herself. Ignore the accident part because if she had a convoy of 20 cars like Indian politicians then the accident would never have happened! Last edited by amit : 2nd May 2006 at 06:15.
	() Thanks

2nd May 2006, 07:35	#184
zulfikar BHPian Join Date: Feb 2005 Location: Hyderabad Posts: 532 Thanked: 18 Times View My Garage	THIS IS SAD... BUT last night after i reached Bangalore i went to fill my bike Speed was 52 Per Liter not much difference.
	() Thanks

2nd May 2006, 09:38	#186
balenopower BHPian Join Date: Feb 2005 Location: Bombay Posts: 957 Thanked: 466 Times View My Garage	anybody interested in a well maintained suzuki baleno???:( and yeah a nu karizma as well...might as well drive around in a reva... Last edited by balenopower : 2nd May 2006 at 09:41.
	() Thanks

2nd May 2006, 10:36	#187
Sush BHPian Join Date: Apr 2005 Location: Noida, New York Posts: 308 Thanked: 2 Times	I guess the Metro project will assume more importance now.
	() Thanks

2nd May 2006, 10:46	#188
jkdas Senior - BHPian Join Date: Sep 2005 Location: Thiruvananthapu Posts: 9,687 Thanked: 1,493 Times View My Garage	such a OT thread! Guys back to topic pls
	() Thanks

2nd May 2006, 21:45	#189
stangman Newbie Join Date: May 2006 Location: mumbai Posts: 12 Thanked: 0 Times	i think carpool is the future.................
	() Thanks

6th May 2006, 13:21	#190
vinu99@gmail.co BHPian Join Date: Oct 2005 Location: Bangalore Posts: 109 Thanked: 39 Times	Why can't someone bring a hybrid car! Its high time, I need one badly now ;-)
	() Thanks

6th May 2006, 13:48	#191
arif_t01 BHPian Join Date: Mar 2005 Location: Trivandrum, Ker Posts: 356 Thanked: 343 Times	Thank God......we have diesels - Fiat Uno 1.7 D and Ford Fiesta 1.4 Tdci.....both with good mileage of 14km/l with A/C in the city and 18-19km/l with A/C on the highway.......but only for the present......if it goes like this, i dont know what???
	() Thanks

6th May 2006, 14:30	#192
sumitkalindi BHPian Join Date: May 2006 Location: Kolkata Posts: 376 Thanked: 17 Times View My Garage	I am going to put a AC motor in place of my car engine and run it using a kerosene generator. I am sorry guys but soon you are going to see my new WagonR "puttering around"
	() Thanks

6th May 2006, 15:16	#193
autozealot BHPian Join Date: May 2006 Location: Mumbai Posts: 204 Thanked: 12 Times	Hello guys! I tell you there will be no major difference in the metros especially even if petrol costs Rs. 60/ ltr. The main problem will be diesel prices with truckers going on a strike and a subsequent increase in consumer goods etc.. Not again Mr. Minister Good-day people! Last edited by autozealot : 6th May 2006 at 15:17.
	() Thanks

6th May 2006, 15:33	#194
rkg Senior - BHPian Join Date: Apr 2005 Location: bangalore Posts: 1,044 Thanked: 597 Times	Hi! as per ex petro minister it costs Rs 16 odd for litre of petrol for govt. rest all are taxes( central customes, central excise, state sales tax, state octroi etc etc etc) petro products are not covered under VAT. so there is cascading effect of indirect taxes on petro products. the losses made out are on paper. govt can reduce the taxes in proportion to international crude prices in such a way that they are tax neutral. ex petro minister was advocating this. what actually govt is doing is in the name of rise in crude prices they are actually getting more and more. imagine the case where crude is 30 $ and customs and excise at 150%( actual figures i do not know) then the rate will be 30+45 $= 75$ now crude is 72$ our great govt wants the excise and customs at the same old rate say 150% and it wants oil companies to sell at old rates . so govt will get more taxes bec they are taxing base price of 72$ instead of 30$. oil companies will end up in notional losses. what manisankar iyer was advocating was u can reduce the rates in such a way that govt gets same 45$ instead of 108%( 150% of 72$).but finance minister dont want it i hope iam clear
	() Thanks

10th May 2006, 20:45	#195
jkdas Senior - BHPian Join Date: Sep 2005 Location: Thiruvananthapu Posts: 9,687 Thanked: 1,493 Times View My Garage	http://in.rediff.com/money/2006/may/10petro.htm Hike petrol price by Rs 10, LPG by Rs 114: Ministry....
	() Thanks