June 2014 : Crude Oil price 108 dollars per barrel Dollar to INR in 2014 : 60.52
Today Dolar to INR hovers at 65; and dollar per barrel is at 30 $$;
This reply is for the guys who said exchange rate between 2014 to 2017 should compensate for the higher price we are paying!! Talk for yourselves!! This is clear extortion, we should be paying less than half of the price.
Re: What a Joke
by Guruprasad Rao on Apr 13, 2017 01:01 AM
Joke on you for not understanding the economics. First understand what was the subisdy paid to oil companies till 2013. It is of the tune of 1,10,000 crores every year. Now it is almost nil. What is the debt India owed to Iran and other countries which kept on piling. For the first time we started paying it off. How many infra projects have been possible due to surplus tax revenue now? This is not a some street side shop that you just compare price. Understand economics first before even commenting on this subject.
Re: Re: What a Joke
by Renju Dharan on Apr 13, 2017 01:51 PM
Key point is this : after deregulation in 2010 Govt stopped paying subsides to oil companies; however when the prices reduced internationally Govt introduced taxes etc to keep the prices where they were, when crude price was at its highest. So inspite of all subsidies off the table; still govt intervened and jacked up the prices from time to time. Can you please explain this point?? Also let us know the price which we will be paying when crude hits 140$ a barrel again.
Re: Re: What a Joke
by ramachandiran nil ramiah on Apr 13, 2017 08:35 AM
Kindly list the infra projects. Do you know the split of petrol and diesel prices to understand how much state and central tax on each liter. It is very high. Further with the mentality of Indian business people the bunks will be closed when the price goes down and will sell only when the prices are high. The Govt. is going to create another queue in bunks as created in ATMs and banks by demonetisation This Govt is only for business people and not for common man.
This is ridiculous. Tomorrow the government will say, the bus tickets will also vary according international fluctuations in petrol rates and dollar rates.The government should stop taxing the petrol and diesel so heavily, even in our neighbouring countries, the prices of petrol and diesel are much cheaper. Can anybody guess, why petrol and diesel are kept out of GST? The politicians in nexus with petroleum companies earn lot of money by taxing the common man. It is a big scam.
For Renju S. Dharan's message readers themselves suggest rate of dollor now and then has to be considered to get the answer. Why the Gong. Govt. and the present Govt. could not take any measure in improving the rupee value. Our rulers have a lot of responsibility to improve the economy of this country. Instead this Govt. is eyeing the purse of the common man only to drain his money instead finding way to fill his purse. The economical advisers of the present Govt. only advice the Govt to loot the common man. Income from petrol and diesel are bulk cakes for the central and as well as state.
Re: diesel petrol prices
by Satish Chopde on Apr 12, 2017 04:51 PM
Indian scum politicos then should also ensure payment of labor and welfare at comparable dollar rates.
Re: diesel petrol prices
by ramanna murthy on Apr 12, 2017 05:42 PM
you r right brother, Modiji is busy only in looting people to contest polls for hundreds of years.
There was no pilot on demonetization. "It is technically possible to change rates daily but we have to first do a pilot. Once pilot is done and its implications studied, we will extend it to other parts of the country," he said.
Re: Ashoka the great pilot
by Satish Chopde on Apr 12, 2017 04:54 PM
There is going to be a hearing in July on the great Indian demonetization, in India's great Supreme Court!
What a Joke!! (a) Price of crude oil back in 2000 and 2017 were 30 $$ per barrel (!!) (b) Price of petrol in 2000 30 Rs, 2017 : > 70 Rs (!!) (c) When crude oil hit 140 $$ per barrel ; we were paying about 75 Rs (d) Apparently Govt 'deregulated the prices a few years back, however from the above data this applies only when prices increased and not when it decreases. (e) We as common people of the country should demand the Govt to bring down the prices immediately rather than letting it be 'deregulated' on a daily basis (f) If crude hits 140 $ again with this free pricing; we pay 150 bucks??
Enough of fooling common man of India, yes let there be tax deficits in the budget, it doesn't matter. But enough of fooling common man in India.
Re: What a Joke!
by Varun on Apr 12, 2017 03:54 PM
There are no more so called common man here. All seem to have become the likers of the Hitler's dusted boots thinking they will be liked by him!
Re: Re: What a Joke!
by sharma on Apr 12, 2017 04:00 PM
Deregulation of fuel price was done by manmohan.. BJP opposed it. it is now upto fuel company what to charge
Re: What a Joke!
by Manian on Apr 12, 2017 04:03 PM
If 85% of the electorate in a constituency which was suppose to have gone for election in TN today(Election has since been countermanded) are enticed to vote for a consideration, the concept of common man and poor citizens has no relevance. If people could vote for fraudsters by taking money this is what the people deserve without realizing that they are allowed to be looted by taking a penny. The actual sufferers are middle class who pay for everything right from subsidy to freebies.
Re: Re: What a Joke!
by Satheesh KR on Apr 12, 2017 04:13 PM
We do not buy gold and silver on a regular basis, but buy petrol & diesel on a regular basis.
Re: What a Joke!
by Ajay Sinha on Apr 12, 2017 04:41 PM
Yes this is open loot and nobody is protesting.Every one has to stand and protest because political parties know their term will come and they will also loot. Inspite of looting so much still the beggar keep crying every where give up this or give up that. Tumhari.....
Re: What a Joke!
by ramakrishna on Apr 12, 2017 05:00 PM
what was the $ and INR exchange rate then, what was the labor charge then? you want increase of salary every year, does petrol pump labor dont need? if salary increased it is passed on to selling price as well. what was the compensation Govt was doing to these companies then? what amount of subsidy given by govt then and what was current account deficit then as to spend on this easy way for Govt to get money is put more tax on oil.
Re: What a Joke!
by Guruprasad Rao on Apr 13, 2017 01:05 AM
Joke on you for not understanding the economics. First understand what was the subisdy paid to oil companies till 2013. It is of the tune of 1,10,000 crores every year. Now it is almost nil. What is the debt India owed to Iran and other countries which kept on piling. For the first time we started paying it off. How many infra projects have been possible due to surplus tax revenue now? Add to that the foreign exchange rate difference now. This is not a some street side shop that you just compare price. Understand economics first before even commenting on this subject.
Re: Re: What a Joke!
by Renju Dharan on Apr 13, 2017 01:53 PM
Key point is this : after deregulation in 2010 Govt stopped paying subsides to oil companies; however when the prices reduced internationally Govt introduced taxes etc to keep the prices where they were, when crude price was at its highest. So inspite of all subsidies off the table; still govt intervened and jacked up the prices from time to time. Can you please explain this point?? Also let us know the price which we will be paying when crude hits 140$ a barrel again.
