[Cowardly Lion]

If you think petrol price is too high here
In Europe, buying price was 120, retail 1.25/Lt
now, buying price IS 30, retail 1.15/Lt

[sathya_g_m]

Originally Posted by Shivjeet

There's no way production of diesel can cost more than petrol, because petrol needs way more refining than any kind of diesel. In the US, diesel has higher taxes and I'm assuming the same is the case in other countries where diesel is more expensive.

Nope. Production cost is more for diesel. For the same amount of crude you get more petrol than diesel. In US as the taxes are equal diesel is priced more rightly as per the market. Here diesel attracts lower taxes hence it is priced lower as our economy is still predominantly fuelled by diesel. If taxes are equalled get ready to pay more for diesel.

[1lokesh]

Petrol price cut by 32 paise, diesel by 85 paise a litre with effect from midnight tonight. Source: PTI

Congratulations, for small things in life

[dass]

Originally Posted by 1lokesh

Petrol price cut by 32 paise, diesel by 85 paise a litre with effect from midnight tonight. Source: PTI

Congratulations, for small things in life

Now expect a hike in the excise duty to follow and how the oil companies would say they have absorbed the cost and not passing it on to the customers.

This is HIGHLY

[RSR]

Just as I had anticipated, the oil mafia has dealt another tight slap on the faces of hundreds of millions of petrol users in this country! As has become a habit with these vicious extortionists, yet again they do their dirty deed on / near a festive occasion - this time it's Pongal, Sankranthi, Lohri, Magh Bihu and other similar festivals in different parts of the country.

Note how the shameless extortionists in the oil mafia have begun increasing the filthy, artificial price differential between petrol and diesel with the last two or more fortnightly changes.

In the new X-Trail thread, I had sounded a warning to Nissan not to go only the petrol-hybrid way. Here it is:

Originally Posted by RSR

Nissan shouldn't neglect the diesel option when they have access to Renault's excellent dCi engine range. The dirty fuel may have come under (well-deserved) fire from the Hon'ble SC, but one should never underestimate the influence wielded by the diesel lobby in this country, ever! The discouragement of diesel vehicles in highly polluted Delhi-NCR has left the diesel lobby fuming with rabid rage. They are likely to try anything and everything possible to claw back their turf. The diesel lobby may do the dirty by getting their notorious chums in the oil mafia to increase the fake & disgusting artificial price gap between petrol & diesel yet again. Long overdue judicial correction notwithstanding, the diesel lobby still have the powers-that-be in this country well under their control.

Nissan should never forget this unholy nexus that maintains a detestable artificial difference between the prices of petrol & diesel in this country. So they should provide the Renault M9R dCi as well on the new X-Trail, in addition to the petrol hybrid.

Thanks for proving my warning to Nissan right, you vile oil mafia extortionists!

One thing is sure. Since petrol users never even protest (let alone go on a rampage after declaring a strike), this diabolical extortion racket against them in the name of supposed "de-regulation" is bound to go on and on and may even get much worse. Both, the vicious diesel lobby and the vile oil mafia have a hand to play in this scandalous, unhindered extortion.

One thing is sure. The vile extortionists are rejoicing now at how easily they can continue to extort the hell out of hapless petrol users, but their crimes are adding up very rapidly indeed!

Not just their heinous extortion racket against petrol users, but also their crimes against Mother Earth (the environment & all living species) and the health & well-being of all citizens (dead, living & unborn) and sound economic principles.

The extortionists may not know this, but by continuing with their crimes, they are digging their own graves. One day, they will be buried in them. And that day is not too far off, either!

[ramanak]

Indian basket of crude oils dives to 13-year low

As the global oil slide continued, the Indian basket of crude oils closed trade on Tuesday at a 13-year low of $27.33 a barrel, according to official data released here on Wednesday.The Indian basket had touched a previous monthly low of $27.11 in December 2002.

Link

https://in.finance.yahoo.com/news/in...154604144.html

[JD1]

Yes as expected the excise duty has been hiked on petrol by Rs 0.75 and on diesel by Rs 2. Expected (fill in blanks here with your choice of word) this time-Rs 3,700 crore in additional revenue.

[dass]

does anyone know the total additional revenue this government has mopped up with the increase in excise duty since last year? This plus the LPG subsidy

[freedom]

On a positive note.

Call me an idiot, but I actually don't mind fuel at this price point. My sweet spot is 60/l

I think we will do reckless consumption if the prices are too low. Just like Diesel vehicle drivers give two hoots to turning off engines(I know the turbo argument)

Atleast, I am assured that all users of fuel are paying tax. Unlike income tax, which I pay but the 98% population doesn't pay.
Govt income is X and expenditure is Y. The difference has to be made up. I prefer the diff to be non-income tax.

Just my 2 cents of positive thinking.

[dass]

Originally Posted by dass

does anyone know the total additional revenue this government has mopped up with the increase in excise duty since last year? This plus the LPG subsidy

Quoting myself. Mods please merge.

Taken together with the November 7, 2015 increase in excise duty on petrol and diesel to raise Rs 3,200 crore, this is the third hike in levies this fiscal year. The four excise duty hikes would net the government an additional Rs 13,700 crore.

That's a hell lot of money

[ramanak]

Crude price falls below $30 per barrel for India

The price paid by India for a barrel of crude oil has fallen below the $30 mark for the first time in several years.

On Jan 7, the average price paid by India for importing crude oil was $29.24, substantially lower than the $33 level seen in international oil exchanges such as NYMEX. India has long-term crude oil sourcing arrangements in place, which often results in a discount over cash prices.

In terms of rupees too, a crucial barrier — Rs 2,000 per barrel — was breached on the day. The price fell to Rs 1956.65 from Rs 2090.22 per bbl on the previous day.

Since oil barrel contains 159 liters, the price of a liter of crude oil has fallen to Rs 12.30, implying a price of around Rs 17-18 for a liter of petrol and diesel before taxes and transportation costs, but after refining costs.

India is very exposed to global crude oil price fluctuations due to its near complete reliance on overseas suppliers. The country imports about 75% of its crude oil needs, and also has very little natural gas to fall back on.

Retail petrol prices have more than doubled over the last six years or so due to the rise in global commodity prices. However, despite a steep correction in the prices, retail prices in India have corrected only by around 20% in the last one year.

Link

http://rtn.asia/t-t/16620/crude-oil-...rrel-for-india

Savings due to this fall:

http://timesofindia.indiatimes.com/b...w/50504636.cms

[sgiitk]

So be it. I am glad states have not started hiking VAT. It is going up as a percentage (price of fuel is dropping) but not in absolute terms (floor VAT).

[VSRK]

OMG! Actual proportinate value of one litre of Petrol to cost Rs.30~ only if they have reduced as per international price correspondingly. Worried about where the extra money is being routed?

[sandeep108]

The real problem for us users will start once crude prices start stabilising and increasing (unlikely it appears in the near term with a very mild winter in the developed countries) and then with these excise rates we may see petrol and diesel prices at Rs. 100/- and Rs. 80/- per L. With the seventh pay commission and continued infra expenditure govt. will require ever increasing revenue with no signs of any reduction in expenditure or efficiencies.

[anuragn]

Originally Posted by freedom

On a positive note.
I think we will do reckless consumption if the prices are too low. Just like Diesel vehicle drivers give two hoots to turning off engines(I know the turbo argument)

Strongly agree with above.
I would also like to add that if we compare the average salary when petrol used to sell in the range of Rs 30-40 with today's salaries, consumption would increase manifold if petrol (and ofcourse diesel too) were to cost proportional to today's falling crude prices.
The increase in consumption would naturally increase pollution as well as speed up depletion of petroleum resources.
I would rather want the govt to spend, at least a portion, of this additional revenue in promoting electric or hybrid vehicles.