[sgiitk]

It seems that analysts expect a $50 floor on WTI which should lead to a $53-54 Brent. The rupee may drop to $1=₹65 in three months!

Originally Posted by akshay4587

Ever since the reduction has started; i am now saving about 750 bucks on a tankful; it can give me a stomach full of food at a decent restaurant

Yes, but I was talking in the context of a ₹2 drop. Any single drop does not save you even ₹100 on a tankful!

[lurker]

Originally Posted by sgiitk

It seems that analysts expect a $50 floor on WTI which should lead to a $53-54 Brent. The rupee may drop to $1=₹65 in three months!

how convenient that the rupee drops so conveniently whenever international oil prices drop. One would normally presume that due to lesser oil burden the rupee would actually increase. But no sir, not in the banana republic that goes by name of RKI (Reliance ka India). Usually excuse given is that foreign funds have dumped investment and withdrawn their dollars.

Logically one would think why that would happen, if foreign funds know that dollar devaluation is imminent and they should increase stake in rupees, so that they get more dollars. But not so in this banana republic and it's banana stock market.

This leads me to believe that so called FII is actually Indian money and wealth of Indian corporates and other benamis of companies like Reliance who in cahoots with central bankers (heard that one central banker was paralysed neck down since fuel prices started falling) who conveniently do not intervene and the smallest of withdrawals cause rupee to collapse conveniently.

And all this is just a shady scam being perpetrated by Indian karporates and a few influential bureaucrats, bankers and politicians who have been accounted for. Nothing else explains this scam.

[sgiitk]

I think the drop in the ₹ is in anticipation of a rate cut, and also a possible rate hike by the US. Reliance is powerful but not that powerful. If RIL was not there you may not be getting BS-IV diesel from the sarkari OMCs.

[NPV]

Originally Posted by NPV

Filled the M800 today (Bangalore), petrol was Rs.69.40 a litre .

Originally Posted by audioholic

Where? I paid 67.21 today in a rather new BP bunk near my house.

Thanks @audioholic, that was a typo
Checked the bill again, I paid 67.46 at the HP COCO outlet nearby

[sgiitk]

Seems that Rajasthan and MP have or are jacking up VAT on Fuel. So there is another justification for Excise hike, else more states would have done so. I hope they do not taker cues from these states.

[bhardwhu]

The fuel in US is right now at $2.00 a gallon, which is almost rupees 35 a liter. Hope it gives an additional perspective to bhpians in India.

[commonman]

Originally Posted by bhardwhu

The fuel in US is right now at $2.00 a gallon, which is almost rupees 35 a liter. Hope it gives an additional perspective to bhpians in India.

That's because its deregulated and unlike in India which have a formula for
deregulation.Factor of dreg=function of (reg+stax+duty+vat+x) ,which is very difficult for people like me to understand.

[glenmz]

Diesel at Indianoil was 54.88 a liter. Filled up yesterday.

[sgiitk]

@commonman; Taxation in the US is minimal. Only the oil producers Gulf, UAE, etc. may be cheaper still.

[Ajitsingh208]

Goa has reveresed the decision to abolish VAT on Petrol, now a VAT of 5% will be applied. petrol cost would be slightly more than Diesel now.

[rajshenoy]

Originally Posted by Ajitsingh208

Goa has reveresed the decision to abolish VAT on Petrol, now a VAT of 5% will be applied. petrol cost would be slightly more than Diesel now.

Goa govt is really lucky, they scored lot of brownie points by abolishing VAT on petrol, price was cheaper than diesel and now when prices dropped, silently they re-introduced

Will they remove that tax on out of state vehicles now ?

[sgiitk]

Hurt by a revenue shortfall UP intends to hike VAT on both Petrol & Diesel. This is notwithstanding the fact that revenue deficit is across the board. Result of over optimistic projections and poor collections.

[sdp1975]

MP , Rajasthan , Goa and Odisha have hiked VAT on fuel , other states are sure to follow soon. They were not reducing VAT when fuel prices were increasing , were they ? Then why increase it now ? Have any state corporations reduced bus fares as well with fall in diesel prices ?

This is really on the lines of the move by the Central Govt which hiked the excise rate twice when fuel prices were falling. The states are following similar tactics now. So much for "deregulation" and open market economics.

[sgiitk]

Originally Posted by sdp1975

1. MP , Rajasthan , Goa and Odisha have hiked VAT on fuel , other states are sure to follow soon. They were not reducing VAT when fuel prices were increasing , were they ? Then why increase it now ? Have any state corporations reduced bus fares as well with fall in diesel prices ?

2. This is really on the lines of the move by the Central Govt which hiked the excise rate twice when fuel prices were falling. The states are following similar tactics now. So much for "deregulation" and open market economics.

1. At some point VAT went from ad valorem to fixed in some states. Agree bus fares can be reduced, btu i do not know of any STC making a profit! The only people who may have a legitimate reason for the increase are the Goans who went down to 0.5%.

2. Excise was reduced in the days of $100+ Brent, so there may be a logic to restore the tax, be it as a buffer!!

[narayan]

I'm seeing a news item right now in a news channel that petrol and diesel prices to be hiked by upto Rs2 from Jan 1 ?