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  • Category: Central Government

    Did anybody noticed Fuel Price hike, or just waiting for Media to do it ?

    Last time I remember when I went to a filling station, the price of petrol was 66.10 per litre. This is a second time " Big Awe " hike. I can't seem to think about a really good thing to say after this.

    I like driving, but why should I pay awfully more for it when the world seems to be paying less ( well I think ). I don't know about the real statistics, but one of my friend's father is in merchant navy and he told us that during Manmohan's reign a price of a barrel of fuel was nearby $140 something and the price of fuel in our country for petrol was nearby 60 Rs. or so, pardon me don't remember the details. Now his ship carries fuel and the price for a container is nearly $33 a barrel, and the price of the fuel should atleast be near 30 Rs. according to that.
    ( Stats are approximate )

    So, if our government or Mr Ambani's refinery. If we are earning so much with fuel. WHERE IS IT GOING ? , I didn't see anything changing ? Then why all these Cess's ( krishi kalyan, swachh bharat ) is it just so that I can't drive to a restaurant because the fuel is nearly unaffordable and then can't even pay someday because there are 13 types of cess's or GST which has more cess that we don't know, hence stopping me from going to restaurants too ?

    This government seems to focus alot on people's health by stopping us from eating outside.

    Kindly share your thoughts, this is a discussion. If anybody has correct stats about international fuel prices do share too.
  • #569433
    The author raised a relevant post which is concerned to every one. But what I feel that over these past years, the oil companies have only accumulated losses. There was no profit and that illiterately made them to the verge of closing. After giving them the rights to decide the pricing on their own, the oil companies have now started earning their losses back and soon they will complete their quota of back log. One more thing I have observed from any government that if a rate or price is increased and acceptable to the public, why should they think of decreasing the same. In fact decreasing even marginally made us happy. But that is again short liven act.
    K Mohan
    I consider myself as the learner everyday

  • #569443
    It is the most difficult situation and problem for all states in india. But some of the states are selling oils with price lesser than other states. India is the country which is importing more than 60 percentage of crude oil than need. But in such a situation to protect the financial system the governments are increasing the taxes of the petroleum products. I think first the central goverment take most of the taxes from petroleum and then the state government is taking profit from petroleum. I think it is mostly due to increase the capital of the state and country. But the price of crude oil in barrel is less. But when it come as petrol and other petroleum products the price become increases to double or triple the normal rate. Such kinds of situation is very sad for poor peoples. When the price of petroleum product is increase the price of all other products will also increase. But the goverments will not decreasing the price of other products with falling of petroleum price.

  • #569449
    This is a very much discussed topic in the forum. The prices of petroleum products are high under the NDA Government than it was under UPA. The srude oil price in the international market was about $ 140 when the UPA was in power. Now the crude oil price is about $ 40. The price of petrol is now Rs 71/ at my place. The NDA Government increased the excise duty by more than Rs 8/ per liter after it assumed power in 2014. The benefit of slump in the crude oil price is not passed on fully to the consumers by the Government. The increase in excise duty by the Government is one the main reasons for the increased price of petroleum products.
    With regards

    " Be Good and Do Good "

  • #569505
    My question still remains unanswered, if government somehow justifies the increase in price which is totally unjustifiable. But where is the Money in profits going to ?

    I didn't see any benefits till now for me. People left subsidy so that something good happens but I don't see.

    All I see is rising inflation, NO JOBS. Where is all the money going ?

  • #569569
    What the government claims that it gave new connections of LPG to those poor people who were not eligible earlier nor did they get their gas connection allotted. Over one lakh LPG consumers have given up the subsidy and that is transferred to poor people without gas connection.
    K Mohan
    I consider myself as the learner everyday

  • #569574
    When there are reports about rampant corruption, as was the case during the UPA Government, then there is a cause of concern for the citizens of India. However during the Modi Government, since past two years, we have not heard about any scandal like coal scam or 2G/3G scam.
    In view of the above we should trust the Government, which we have ourselves voted to power.
    During the year 2016-17, the total subsidy bill of the Government on petroleum products was estimated to be around Rs. 30,000 crores.
    Now efforts are being made to reduce the expenditure on whopping sum on subsidies.
    The money thus saved can be utilized for other developmental and social welfare activities.
    Visiting restaurants involves payment of another round of various cesses and in case the restaurant happen to be of starred category then payment of luxury taxes etc. also.
    Expecting to eat out on the strength of subsidy appears to be funny.

    Let us encourage each other in sharing knowledge.

  • #569590
    Mr. Kailash Kumar has given an extremely logical response (#569574 ). I would like to add further that the tax collected by the Govt. by increasing excise duty on petroleum, is being used to build a buffer stock of petroleum products, which would be extremely helpful in case of future emergencies. This step is very prudent considering the volatile politics and conditions in the middle-east, the major oil-producing region of the world.
    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #569596
    Today the government marginally reduced the price of the fuel which wont have much saving on us as the petrol bunk fellows wont return the change anyway. So marginal decrease does not gain the customers at all.
    K Mohan
    I consider myself as the learner everyday

  • #569602
    The government is collecting huge taxes on refinement of the oil e.t.c.. because the refinery and machinery equipment is inadequate in India.We look some of the Asian countries how much they are selling the petrol per liter.

    compare to 2013 the percentage deviation from India is

    INDONESIA 1 LITER PETROL 39.69 -41%
    Pakistan 1 LITER PETROL 41.26 -39%
    Nepal 1 LITER PETROL 63.27 -6%
    SRI LANKA 1 LITRE PETROL 59.01 -12%
    CHINA 1 LITRE PETROL 64.6 -4%

    The first two countries facing lot of economic crisis but still they are selling for less rupees than India.

    The petrol price pert liter in Bangalore and Hyderabad is 70 rupees

    If you ask your doubt you are fool for 5 minutes but if you don't you are fool forever -- Chinese proverb

  • #569605
    To be honest the fuel price hike will not affect me greatly as an individual because I fill my tank twice a month. There will be a difference in price but that is not going to make a big difference to me. But the actual fact is that when there is a fuel price hike it is totally dependent on the other items that we spend on. I have seen a big difference in the vegetable prices when there is a increase or decrease in the fuel price. This is something that I have noticed so many times. I have also seen lorry drivers doing a strike for the fuel price hike.

    The vehicles are highly dependent on fuels but I can see so many ways in which the fuel price can be kept under control. When consumption is high the cost is also high. This is some strategy that is commonly followed. May be we should also think about moving to natural or alternative source of energy. Example is during summer, the IT companies are the major consumers of fuel for their diesel based power generation. There should be a strict rule from the government to say that they should start using solar panels. This will reduce the consumption and reduce the demand for fuel.

    Thanks and Regards,
    S Balasubramanian

    Quote: "It doesn't matter what we want. once we get it, then we want something else."


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