Re: Attention
by HLB as on Apr 17, 2011 10:16 PM
Thanx for the info bro.Can u give some more tips as to how to get ur money's forth of petrol?I never trusted those attendants.Thanx in advance
Re: Can you compare like this?
by josh vin on Apr 13, 2011 06:56 AM
yes. it is :-) but you also consider peoples buying power. the lowest wage in US is 8$/hr so just do a 8*8*22*46 to convert it to rupees
Re: Is it possible to smuggle Petrol from Pakistan
by JGN on Apr 12, 2011 10:57 PM
Petrol isCheaper inPak; you are comparing prices inPakRupees with IndianRupees!!
Re: Re: Is it possible to smuggle Petrol from Pakistan
by Jay Dubey on Apr 13, 2011 12:06 AM
Even one cigrate pack cost 4 euro in Europe but petrol is 1.5 Euro not the case in india
Re: Re: Is it possible to smuggle Petrol from Pakistan
by JGN on Apr 12, 2011 11:00 PM
Why don' t you try to smuggle from Venezuela where petrol costs just Rs 0.71 per litre?
are loosing upwards of Rs. 6/- per litre of Petrol and Rs. 12/- per litre of Diesel sold !
Owing to election compulsions, the union govt. has not allowed the oil companies to raise prices for the last couple of months. The finance ministry has refused to back up the PSUs with any more subsidies either in the form of direct budgetary support or what are known as 'Oil-bonds' than it is already bearing. The upstream companies such as ONGC and OIL are already bearing a full one-third of the total under-recoveries and will not be able to bear any more of the burden.
Considering all these facts, the oil ministry has asked the three major PSUs (as well as ONGC's refinery - MRPL) to hike prices steeply in the less sensitive products such as furnace oil, LSHS, naptha, bitumen, industrial grade kerosene, special products such as hexane, MTO, etc. and also in the entire spectrum of lubricants !
Owing to this step, the industrial sector is going to be hit hard as it will bear additional burden in lieu of the enormous subsidy being extended for Diesel and Petrol.
Come May and it is certain that there will be a substantial hike in Diesel and Petrol prices !
Re: The public sector oil companies currently
by JGN on Apr 12, 2011 11:02 PM
That is a bigLoad ofBullShit; the govt makes more money by sellingPetroleum products. Go to the web of API (AmericanPetroleumInstitute) to know the costing details.
Re: Re: The public sector oil companies currently
by piri on Apr 12, 2011 11:58 PM
The govt. certainly has always made and is making a lot of money by selling petroleum products !
After all, it parts with only a small fraction of the money it earns through the imposition of 14.5 % Excise duty on all petroleum products in the form of 'oil-bonds' to partly off-set the losses faced by oil companies !
I was referring to the losses of the PSU oil companies, not that of the govt. !
The API does not factor in taxes imposed in India, did you know ? It works out cost of production of the different products in terms of USD per barrel (about 161 litres) !
The Indian basket is based on the API price plus a host of other factors such as shipping freight, variations owing to futures (hedging) trading besides additional costs in case of spot purchase.
Within the country, the state governments impose VAT in the range of 28 to 33 % (on basic rates plus Excise duty). VAT alone accounts for about Rs. 14/- in the price of petrol in most states.
The situation is so grim for the oil PSUs (the private sector Reliance and Essar withdraw into the background in retailing of petrol and diesel whenever the viability drops due to price factor and switch to massive exports - besides, the Reliance and Essar refineries still enjoy the 15 year tax holiday initially granted to them; they also do not have to either manufacture or market loss making propositions such as kerosene) that they have been resorting to massive market borrowings at high interest cost !
Re: Re: The public sector oil companies currently
by piri on Apr 12, 2011 11:57 PM
The govt. certainly has always made and is making a lot of money by selling petroleum products !
After all, it parts with only a small fraction of the money it earns through the imposition of 14.5 % Excise duty on all petroleum products in the form of 'oil-bonds' to partly off-set the losses faced by oil companies !
I was referring to the losses of the PSU oil companies, not that of the govt. !
The API does not factor in taxes imposed in India, did you know ? It works out cost of production of the different products in terms of USD per barrel (about 161 litres) !
The Indian basket is based on the API price plus a host of other factors such as shipping freight, variations owing to futures (hedging) trading besides additional costs in case of spot purchase.
Within the country, the state governments impose VAT in the range of 28 to 33 % (on basic rates plus Excise duty). VAT alone accounts for about Rs. 14/- in the price of petrol in most states.
The situation is so grim for the oil PSUs (the private sector Reliance and Essar withdraw into the background in retailing of petrol and diesel whenever the viability drops due to price factor and switch to massive exports - besides, the Reliance and Essar refineries still enjoy the 15 year tax holiday initially granted to them; they also do not have to either manufacture or market loss making propositions such as kerosene) that they have been resorting to massive market borrowings at high interest cost !
The article is fooling the people. We in India pay a tax of 270% on the basic cost of the petrol, that is the reason for the present cost. The Govt always supports the petroleum industries for their funding.
Re: Petrol: The most expensive and cheapest nations
by Sanjeev Sen on Apr 12, 2011 10:29 PM
i agree with you. Hike the price by taxing and then we are dicounting...
While comparing petrol prices, please don't forget the percaspita income of people too. Ideally what percentage of percapita income is the petrol price would be a better methodology.
when a videshi such as ghoras (of middle-east relgions or euro) gets into town to make good out of that place for themselve, be it africa or asia.
first thing they do is to sow seeds of division if it cannot find division. whatever it takes to do it by conversion, ideology, conservation, jobs. they make x consider y is different and despise/outcaste him, yet find ways and means to benefit from both x and y directly or indirectly by making them dependent on him by various means.
this problem would have never happened if we had wise Asian leaders who developed trust, made better life and controlled population. We could have something like asia NATO without videshis with pak-india-china to begin with. But videshis (including middle-east/europe/etc) rRaped the psyche of asia deeply and made them divided and dependent. now videshis have make desi brokers for them.
This economist of rediff, has decided that which country is cheapest and expensive by just converting petrol prices in other currencies in RS... How stupid is that... cost of litre of petrol in UK is compared to Rs 20/litre in India...
