Ache Din has arrived Petrol crosses Rs.80/- litre

[swathi25]

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Second question is why the Government has not passed on the benefits of Price reduction in Crude to the consumers, instead they
enhanced the duty on the product.
Brahmanyan
Bangalore.

Sir,

Every State Government collect different rates of Tax on Petrolium products.

And there may be some who wish to argue that these revenue earned out of tax is being spent to public by initiating welfare measures.

Here is an article on this...

[h=1]The real culprit behind high fuel prices in India[/h]Excerpts:

The media has been constantly talking about rising crude oil prices and how the Indian OMCs are losing so much money as a result of fuel subsidies. To a logical mind, it seems obvious that if international crude oil prices are rising, there is no way we can escape the brunt of it. But if you look at some basic facts, you get a feeling that there has been some deliberate shaping of public opinion. In fact, fuel prices need not be as high as they are now.


The problem is that we fail to ask how much petrol really costs. Let's try some simple arithmetic. International crude oil prices are hovering around US$ 112.5 per barrel. That translates to about Rs 5,085 per barrel. Each barrel contains about 158.76 litres. So, effectively crude oil costs Rs 32 per litre. Now, add the cost of refining it to petrol or diesel. According to an oil company official, the refining cost is about 52 paise per litre. Add about Rs 6 as capital costs for the refinery. Then there's the cost of transportation (Rs 6) and dealer's commission (Rs 1.05). So, adding all that, the price of petrol comes to about Rs 45.6 per litre. But how much are we actually paying for petrol? Rs 68.3 in Mumbai, Rs 63.4 in New Delhi, Rs 71 in Bangalore

Read more at: https://www.equitymaster.com/5MinWr...real-culprit-behind-high-fuel-prices-in-India

 

[swathi25]

I do not understand the logic of daily price fluctuations either !

Brahmanyan
Bangalore.

Sir

They call this as Dynamic Fuel Pricing..and this came into effect from June 16, 2017 and here is the article published in The Hindu answering your query.


What does daily revision of petrol, diesel prices a.k.a dynamic fuel pricing mean?

What is dynamic fuel pricing?

State-run fuel retailers — Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum — currently revise rates on the 1st and 16th of every month, based on average international price in the preceding fortnight and the currency exchange rate. In dynamic fuel pricing, retail selling prices of petrol and diesel will be revised daily.

From when does it come into effect?

From 6 a.m. IST on June 16, 2017 the scheme will be implemented across the country. A pilot scheme is in place in five cities — Chandigarh, Jamshedpur, Puducherry, Udaipur and Visakhapatnam — since May 1, 2017.

Why the switch over now?

The move, according to the oil marketing companies (OMCs), will ensure that the benefit of even the smallest change in international oil prices can be passed down the line to the dealers and the consumers. Besides the move is said to remove big leaps in rates that need to be effected at the end of the fortnight. Consumers will be more aligned to market dynamics, state-run OMCs say. And of course, India will be following the practice of the most advanced markets.

Were there any opposition to the move?

Yes. Dealers were unhappy about switching over to the new prices every midnight. They had given a bandh call over the issue seeking change in timing as under the new regime they would have to deploy manpower everyday to change rates at midnight. The government has agreed to their demand and fixed the switchover time at 6 a.m. Besides, the Federation of All India Petroleum Traders, an umbrella body of fuel vendors, is concerned about inventory losses in case of drop in global prices and the move’s impact on dealers’ margins.

What are the hurdles?

Read more at: http://www.thehindu.com/business/Ec...-aka-dynamic-fuel-pricing/article19061261.ece

 

[swathi25]

OK...my point is, its not matters like rising petrol prices that will be decider in 2019, rather it will be the egos of regional party leaders and caste combinations.

It is going to be pre-poll alliances, the numbers, the strategies, the tactics, Wave if any, mistakes of the ruling parties both Centre and State, all Rest of the Parties (Other than NDA Partners) joining together ironing out their inherent contradictions, giving importance to minorities, etc will be the decider mostly.

As far as Indian Citizen is concerned, IMO, they will simply refill the tank and pay for it unminding, whatever the cost of petrol, as they know that they are the scapegoat and have no choice. I think they have better judgement to elect a Government with absolute majority unlike Karnataka where there was a fractured judgement.

 

[Shankar Venkataraman]

Can there be one political party in India who can commit to sell Petrol at a subsidized price?

Nay!, even if the levies currently loaded to it by the Central and State governments is removed, price will be lesser...

No political party can cry wolf for the price raise.. It is the same rationale followed by all those when in power...

 

[mkrishna100]

 

[swathi25]

For citizen, it does not matter as to who is power, but they know that they are at the receiving end.

Of course, Modi knows the pulse of the general public and he still dominates by gaining the support of the public.

EXCLUSIVE SURVEY: Narendra Modi remains most popular PM candidate; 55% want NDA back in 2019 Lok Sabha polls

Times Now opinion survey on Modi government's popularity |Photo Credit: BCCL
------------------------------------------------------------------------------------------------------------
Chrome Data Analytics and Media conducted an exclusive Opinion Survey to gauge the popularity of the Modi government. The #NaMoPopularitySurvey posed eight questions before the respondents to understand the public’s mood on Modi Sarkar’s four years of governance.

New Delhi: The National Democratic Alliance government at the Centre led by Prime Minister Narendra Modi completes four years in office on May 26, entering the final 12 months of its tenure before the 2019 General Elections. Will PM Modi be able to win a re-election in 2019? Is his popularity intact after spending four years in office? How has his government fared in the eyes of the people of India?

Chrome Data Analytics and Media conducted an exclusive Opinion Survey to gauge the popularity of the Modi government. The #NaMoPopularitySurvey posed eight questions before the respondents to understand the public’s mood on Modi Sarkar’s four years of governance.
Read more at:

http://www.timesnownews.com/india/a...cratic-alliance-bharatiya-janata-party/231631

 

[mkrishna100]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[swathi25]

 

[a-TB]

I am not very familiar with the indian political scene. Whatever little I know, it appears to me that the congress party has to get rid of Sonia and Rahul from their leadership. It is amazing that a country of 1.25 billion people cannot find a native Indian citizen born to Indian parents (as opposed to naturalized Indians). I cannot understand the elite that support these people.

Congress party has to remake itself, otherwise fooling others is the only business that they can engage in

BJP may have corrupt elements primarily at state and local levels. These people should be booted out of the BJP party ( I mean the corrupt ones).

 

[Brahmanyan]

It is not fair to evaluate the success or failure of the Government basing on one particular aspect. All Governments from the days of Pandit Jawaharlal Nehru, targeted Tobacco, Liquor and Petroleum products to increase the duty and taxes to cover the fiscal deficit. But this Government went one step further by refusing to pass on the international price reduction to consumer. This I hope, they will rectify at the earliest to gain credibility.

Brahmanyan
Bangalore.

 

[swathi25]

[h=4]Of course, unlike few, most don’t wear blinkers
..[/h][h=4]Rise In Petrol Price: P. Chidambaram Should Not Mislead The Country[/h] By Dr. Bhamy V. Shenoy, Oil Industry Expert

Under UPA, when crude oil prices averaged $132 per barrel in July 2008 (it was during that month Brent reached a historic high of $147/b) petrol price was just Rs. 50.62 per litre. Today when oil price is around $80/b, petrol price has reached a high of Rs. 76.57 per litre in Delhi. On the surface it looks like Prime Minister Narendra Modi has been citizen unfriendly. No.


Natural for anyone to think that when international prices have fallen (by $52/b, 2008 versus 2018), petrol prices in India should also fall. But it has not. It is this simplistic, non-expert thinking which must have impelled or provoked the former Finance Minister P. Chidambaram to tweet that Modi can easily cut petrol price by Rs. 25. However, when we analyse the factors behind the petrol price movement, one will wonder how a responsible leader can mislead the country. It is shocking.

NDA was lucky that soon after it came to power oil prices fell. It wisely decided not to pass on all the benefits to consumers. It increased excise taxes on petrol in small doses from Rs. 9.48 per litre to current rate of Rs. 19.48 per litre and for diesel it was from Rs. 3.56 per litre to 15.33 per litre.


Read more at: https://starofmysore.com/rise-in-petrol-price-p-chidambaram-should-not-mislead-the-country/

 

[a-TB]

Of course, unlike few, most don’t wear blinkers
..

Rise In Petrol Price: P. Chidambaram Should Not Mislead The Country

By Dr. Bhamy V. Shenoy, Oil Industry Expert

Under UPA, when crude oil prices averaged $132 per barrel in July 2008 (it was during that month Brent reached a historic high of $147/b) petrol price was just Rs. 50.62 per litre. Today when oil price is around $80/b, petrol price has reached a high of Rs. 76.57 per litre in Delhi. On the surface it looks like Prime Minister Narendra Modi has been citizen unfriendly. No.


Natural for anyone to think that when international prices have fallen (by $52/b, 2008 versus 2018), petrol prices in India should also fall. But it has not. It is this simplistic, non-expert thinking which must have impelled or provoked the former Finance Minister P. Chidambaram to tweet that Modi can easily cut petrol price by Rs. 25. However, when we analyse the factors behind the petrol price movement, one will wonder how a responsible leader can mislead the country. It is shocking.

NDA was lucky that soon after it came to power oil prices fell. It wisely decided not to pass on all the benefits to consumers. It increased excise taxes on petrol in small doses from Rs. 9.48 per litre to current rate of Rs. 19.48 per litre and for diesel it was from Rs. 3.56 per litre to 15.33 per litre.


Read more at: https://starofmysore.com/rise-in-petrol-price-p-chidambaram-should-not-mislead-the-country/

It is hard to follow the logic in the midst of all the details.
Will it be useful to say in one or two sentences the counter to what Mr Brahmanyan has said? Is it that prior government actually was not for ordinary people and made money from additional excise taxes? Is it that the current government is using the taxes on Petrol to do many social programs which will get cut if the excise tax on petrol is reduced?


In USA also politics has been played about gas prices. The global rise and fall is not controllable by any one country. I think people should be subjected to the ups and downs of a global market of Petrol and cannot be shielded by artificial means by any one government. Let the tax rate on Petrol not go up - that is the only thing a government can do.

I am hearing that the gas prices are falling as we speak since Saudi Arabia is increasing production

 

[swathi25]

Will other State Governments follow...?

Kerala to cut taxes on petrol, diesel to reduce retail prices

Amid soaring fuel prices, Kerala Chief Minister Pinarayi Vijayan today said petrol and diesel prices in the state would be slashed by Re one per litre from June 1.



Read more at:
//economictimes.indiatimes.com/articleshow/64385389.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

 

[swathi25]

[h=1]Only meagre reduction…[/h][h=1]Petrol price cut by 7 paise, diesel by 5 paise per litre[/h] NEW DELHI: Petrol price was on Thursday cut by 7 paise a litre and diesel by 5 paise - the second reduction in as many days on the back of softening international oil rates.


Read more at: https://timesofindia.indiatimes.com...by-5-paise-per-litre/articleshow/64393628.cms