[stanjohn123]

Originally Posted by sgiitk

I expect with Brent down to even the sub-$45 band, and the exchange rate holding at the ₹66 level, some decrease in this round, due tomorrow or early next week.

Clearly it doesn't seem like oil companies are monitoring the Brent levels or they wish to ignore it completely. Fuel prices have increased.

[Cowardly Lion]

Originally Posted by reverse_gear

I don't understand why we have to pay for losses of companies like Air India, BSNL and some of the dud nationalised banks. These companies may have had a role to play 25 years back, but they are not serving any national purpose today, and should be wound down. There has to be a strategic withdrawal of the government from these sectors otherwise the taxpayer bill to sustain them will keep growing. This will be at the cost of more important social needs like healthcare and education, where government spending is stagnant or declining. The vision and courage required for nation building is sadly lacking.

Even for a strategic withdrawal the co's need to be in a "going concern" state. Right now they are in shambles and the price gained will be peanuts. The western model of nation building by privatizing everything in sight and then stepping in to bail out the corporates has not been a feather in the caps for the "free market rand style" wallahs..!

[freedom]

Question for members in LBT cities.

From what I saw/read/heard a few weeks back, LBT on fuel is abolished. A surcharge has been introduced for famine relief, but this surcharge is to be levied all thru the state.

After this change is the price of fuel the same on highway vs city?

I clearly remember that fuel pumps on MPEW used to have petrol prices atleast 1.5 rupees lower than Pune city.

I filled up at Shell Thatawade last week at 66.x and filled up 2 days back at Autolines, Pune at 66.x.
I am also seeing a lot less rush on MPEW pumps which may be a side effect of prices being same all across the state.

When heading to Pune, I usually fill up at BPCL just after Talegaon tool plaza on MPEW. The fuel quality is good and the pump has clean toilets plus used to be cheaper than city pumps.

[sgiitk]

Originally Posted by sgiitk

I expect with Brent down to even the sub-$45 band, and the exchange rate holding at the ₹66 level, some decrease in this round, due tomorrow or early next week.

I will say this marginal hike was a total googly. What was the reason - global price parity?

[lurker]

marzi apni apni .. who is there to ask ? We have an untransparent system that has hardly any effective oversight. Some tweedledee-tweedledum world where price movements are random and are very likely to be influenced by vested interests because the entire system is not transparent.

[StarScream]

Originally Posted by sgiitk

I will say this marginal hike was a total googly. What was the reason - global price parity?

This is the reason they gave:

The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision.
https://www.iocl.com/aboutus/NewsDet...ID=37590&tID=8

Whether it explains anything or is factual is another matter.

[fiat_tarun]

The government recently increased excise on fuel right ? I think this hike could be partly to offset that since they did not hike prices when the duty hike was announced.

[i74js]

The increase in government duties which is happening now when the prices are lower is not pinching us that much, but as we know this is a tax country and the additional taxes and duties induced now will stay when the international prices bounce back will hurt us a lot more.

I doubt if introduction of GST by the present government will have an impact.


Simplified Calculation Chart for Petrol & Diesel Prices in New Delhi - September 2015 (Source: http://www.mycarhelpline.com)

[volkman10]

The three state-run oil marketing companies (OMCs) reduced petrol and diesel prices in the national capital by Rs.0.58 per liter and Rs.0.25 per liter respectively.

The reduction will be effective from midnight Monday.

Sources:ET

[sgiitk]

No serious mention on the media. If there was a like increase you would have had many chaps bleating about the cost of living going up, as if heavens are falling. I saw nobody delighted likewise this time round. In a way it is good, we are getting used to the fortnightly price adjustments.

[civic-sense]

Originally Posted by sgiitk

No serious mention on the media. If there was a like increase you would have had many chaps bleating about the cost of living going up, as if heavens are falling. I saw nobody delighted likewise this time round. In a way it is good, we are getting used to the fortnightly price adjustments.

A 25 or 50 paise fall isn't anything to celebrate, and only a few see it as a gift bestowed by the almighty. Remember we don't have 25 and 50 paisa coins in circulation either. Shows how much it is worth. Would you even pick up a 50 paisa if it fell off your hand?

And of late, people (including media) have given up complaining on fuel price hikes as they have accepted misery as an integral part of their lives.

[JD1]

What we have been discussing in this thread- Excise duty on petrol/diesel more than doubles under NDA rule-

http://economictimes.indiatimes.com/...w/50013931.cms

With some states also joining the party, there is virtually no opposition when the hikes became unreasonable.

[saket77]

Our doubts may come true. The Chief Economic Advisor's panel has advocated to keep petroleum products out of the GST ambit. So, it means that the Govts. (both state and central) will keep looting us with double/triple taxation where it was hurting the most.
This step has been taken after states opposed giving up their tax control on lucrative items like petroleum, real estate and electricity.

Source: m.moneycontrol.com/news/economy/cea-led-panel-recommends-standard-gst-rate17-18_4466321.html

[geotracks]

Before deregulation of diesel fuel, difference between petrol & diesel prices were INR 15+-. Now after deregulation difference is similar. Wonder what has changed.

There was a time few years back when many went in for diesel vehicles, seems like that ratio may be reducing slightly. But makes me wonder, what is swinging the market sales of the diesel v/s petrol vehicles, when in fact nothing really has changed in terms of price differential between the 2 fuel types.
e.g. when Honda introduced diesel (I-DTEC) vehicles, there were many I-DTECs suddenly seen on the road. Today when I see a new Honda (across variants) there is a good number of I-VTECs seen across variants. Similar is the case with Swifts. Every second vehicles were VDIs that I would see. Today many new Swifts I see are VXIs. For Toyota Etios, it is the same observation. Barring the cabs that are Etios diesel, if I see a new "privately owned" Etios, there is a good chance it is a petrol Etios and not a diesel Etios. Very interesting shift of customer preference.

[viv_cal]

Originally Posted by geotracks

Before deregulation of diesel fuel, difference between petrol & diesel prices were INR 15+-. Now after deregulation difference is similar. Wonder what has changed.

There was a time few years back when many went in for diesel vehicles, seems like that ratio may be reducing slightly. But makes me wonder, what is swinging the market sales of the diesel v/s petrol vehicles, when in fact nothing really has changed in terms of price differential between the 2 fuel types.Very interesting shift of customer preference.

You are correct, even i think that customer preferences are in fact shifting back to petrol vehicles to some extent. One reason for the brief demand surge of diesel vehicles could be attributed to the anticipated rise in differential price between petrol & diesel. As in, a couple of years back, crude was going north and the difference between petrol & diesel prices was anticipated to further widen, with all the regulations, etc. thrown in. So owning a diesel vehicle would turn out more cost effective in the long run.

Now the scenario has changed with deregulation of both petrol & diesel, and also softening of global crude prices. Probably the general expectation is the price difference between petrol & diesel, going forward, won't be large enough to justify the higher maintenance cost and lower refinement levels (in some vehicles) of owning diesel vehicles. Just my $0.02