[tbppjpr]

Fuel price and tax breakup data as on 22nd June 2020:-














source

[humyum]

Filled up Diesel today, it was 79.XX rupees in Mumbai

Petrol was 87 rupees

How is the transport industry running with such prices, I am surprised.

[sunilch]

Originally Posted by humyum

Filled up Diesel today, it was 79.XX rupees in Mumbai

Petrol was 87 rupees

How is the transport industry running with such prices, I am surprised.

Everything is passed on my friend. In the end it is the consumer who has to pay for it directly or indirectly. Transport industry is quite competitive and hence margins are not very high but volumes were. Not sure how the scene is now. So there is no scope of reducing the margins, they can only pass on the cost to the consumer.

My monthly expenses have gone up by 50% while I am working from home during this on-going pandemic. Groceries and daily essentials have increased in cost and discounts that we usually used to get have dried up now. Important (even though non essential) services have also increased in price

[drmohitg]

Originally Posted by humyum

Filled up Diesel today, it was 79.XX rupees in Mumbai

Petrol was 87 rupees

How is the transport industry running with such prices, I am surprised.

I have been asking this a LOT. But no one has the answer yet. And no one wants to directly ask the transport service owner for the fear that he then may raise prices. But yes, I am completely at a loss for words or wisdom to understand this. The auto unions, taxi unions, truck unions etc. are all silent this time, even though the hike has been phenomenal and unprecedented. Rs. 10 in such a short span of time. Earlier for 2-3 Rs. they used to come out on roads and what not. In my business, we deal with transports on a daily basis and surprisingly none has raised prices. And this isn't COVID related since the trade volume is decent and raised transport costs would not affect it in any way for the business houses. Yet they are all silent with absolutely nothing coming out, not even a rant about how they are losing money on every trip. Beats me completely .

[drmohitg]

VAT on diesel reduced by almost 50% in Delhi. Price would come down by approx. RS. 8.36/litre.

I would be very interested in knowing the revenue figures of the state government as I believe they wouldn't have accumulated significantly additional funds due to this stupid move. People would have simply gone into neighbouring cities like Gurgaon/Noida and so many more since the price diff of Rs. 8 was too high to ignore.

https://auto.hindustantimes.com/auto...100199825.html

[embee]

The Delhi government has decided to reduce VAT on diesel prices from 30 per cent to 16.75 per cent and reduced diesel prices in Delhi from Rs 82 to Rs 73.64. Delhi CM Arvind Kejriwal on Thursday announced the decision to slash diesel prices in Delhi by Rs 8.36 per litre.

As on Thursday (30-07-2020) morning, the price of diesel was Rs 81.94 per litre. The diesel price will now come down from Rs 82 to Rs 73.64 in Delhi.

Source: https://www.indiatoday.in/india/stor...972-2020-07-30

[humyum]

Why has this thread become so quiet lately?

Price of Diesel in Mumbai today - Rs 80.11
Price of Petrol in Mumbai today - Rs 89.94

Brent Crude Today - $ 43.52

Do your own math and make your own judgement.

[Dry Ice]

Originally Posted by humyum

Why has this thread become so quiet lately?

Price of Diesel in Mumbai today - Rs 80.11
Price of Petrol in Mumbai today - Rs 89.94

Brent Crude Today - $ 43.52

Do your own math and make your own judgement.

Well, we can crib all we want, nothing is gonna change on the ground.

Govt is seriously strapped for cash. So much so that it wants to wiggle out of its GST liability to the states. Given their track record, I don't think they can think beyond "taxes". So the situation is likely to stay the same or maybe even get worse if crude starts to rise. This is the new normal.

[Nalin1]

Are the fuel prices going to remain this way forever? That is the 80s and 90s? Or will they drop back to the 60s and 70s once the empty coffers are refilled?

[humyum]

Originally Posted by Dry Ice

Well, we can crib all we want, nothing is gonna change on the ground.

Govt is seriously strapped for cash. So much so that it wants to wiggle out of its GST liability to the states. Given their track record, I don't think they can think beyond "taxes". So the situation is likely to stay the same or maybe even get worse if crude starts to rise. This is the new normal.

But they are buying and building stuff? Where is all that cash coming from then? They have got their priorities in the right place eh?

Originally Posted by Nalin1

Are the fuel prices going to remain this way forever? That is the 80s and 90s? Or will they drop back to the 60s and 70s once the empty coffers are refilled?

Their coffers are never filled, when crude was 30 and price was still touching the roof, their coffers never got filled then too, its an endless loot mania!

[harry10]

Originally Posted by Nalin1

Are the fuel prices going to remain this way forever? That is the 80s and 90s? Or will they drop back to the 60s and 70s once the empty coffers are refilled?

That is a wish or a dream for a common man which is never going to get fulfilled in this country no matter which party is in power.

[LonelyPlanet]

I casually checked with the fuel attendent yesterday - she indicated that the business is down a whopping 75% !! She attibuted it to IT park next door fully WFH.

[avishar]

Interesting statistic, petrol sales are up to pre-Covid levels and diesels are just -6% below normal.

https://economictimes.indiatimes.com...w/78144902.cms

[ABHI_1512]

Petrol price today in Calcutta is around ₹83 and the rates vary across the country according to local taxes. Some countries like Bhutan, Nepal, Sri Lanka buy oil from India and yet the rates of Petrol are as follows:

Nepal- ₹67
Bhutan- ₹49.6
Sri Lanka- ₹64

All the above countries are small compared to India but yet they don’t profiteer from the sale of oil like the way we are doing by raised taxes. I remember when crude crossed above 100$ per barrel at some point of time, we paid around 72₹ per liter for petrol and yet now crude is around 42$ per barrel and we are paying ₹83 for a litre of petrol

Taxes have increased by huge margins. Excise duties on petrol has increased by almost 250% or more and on diesel it has increased by almost 600% since deregulation. Of course vat also has increased by almost 50% but it is no where close to the central taxes. The rates have been so brazen that we have now stopped to care about the crucial component of the economy.

One would have expected to get relief during these times but instead the rates have remained static near about same and hardly varies. But yes, we were told that prices of crude will decide the prices of fuel after deregulation, so we are all good.

[DHARM]

After GST, only way for state and central Govt to increase revenue is fuel taxes. With GST collection dropped significantly and reduction in corporate taxes last year, all sort of subsidies to needy are funded from taxes on fuel. Government is not having enough funds hence the higher price of fuel will continue.