new Gasoline price hike in India ( PKR 150/liter )

[Αиgяу вιя∂]

INR 71.26 = PKR 150 / liter


Fuel Price in PAKISTAN ( in PKR )

 

[Thamizh Puli]

probably of little consequence - demand for petrol must be down a lot due to lockdown

 

[CrazyZ]

At 69%, India’s taxes on petrol, diesel highest in world
India has the highest taxes on petrol and diesel after the recent hike in excise duty. The country now charges slightly over 69 per cent as taxes on both petrol and diesel.
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India Today Web Desk
New Delhi
May 6, 2020
UPDATED: May 6, 2020 12:33 IST

The increase in excise duty comes at a time when global oil prices have crashed to historic lows. (Photo: Reuters)
HIGHLIGHTS

• At 69 per cent, India now charges the world's highest taxes on fuel
• India overtook several countries after the recent record excise duty hike on petrol and diesel
• The steep excise duty hike has attracted crticism from Opposition

The recent excise duty hike of Rs 13 per litre on diesel and Rs 10 per litre on petrol on has made India the country with the highest taxes on fuel.

While the government first issued a notification on Monday night to increase road cess on petrol and diesel by Rs 8 per litre, additional excise duty was also hiked by Rs 2 per litre on petrol and Rs 5 per litre on diesel.

A Business Today report said this is the steepest hike in excise duties on fuel in the country. The report added that the decision came on the same day when the Delhi government had hiked value-added tax (VAT) on the two fuels.

The report highlighted that the price of one litre of petrol in Delhi, currently retailing at Rs 71.26, includes taxes worth Rs 49.42. Meanwhile, diesel which retails at Rs 69.39 per litre has Rs 48.09 in taxes.

The excise duty on both petrol and diesel stand slightly above 69 per cent after the fresh hike.

Italy claims the second spot with 64 per cent taxes on retail fuel price. France and Germany charge excise duty at 63 per cent, 62 per cent in Britain, 53 per cent in Spain, 47 per cent in Japan, 33 per cent in Canada and 19 per cent in the US.

However, India has always charged high taxes on petrol and diesel. By last year, the government was charging 50 per cent taxes on the retail price of fuel.

While an increase in excise duty does not directly impact retail prices, it does lead to an indirect increase if OMCs decide to increase fuel prices. The dynamic pricing mechanism allows them to revise prices daily.

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The increase in excise duty comes at a time when global oil prices have crashed to historic lows, forcing some in the Opposition to question the government’s move.

However, the government’s move seems to be focused on generating more revenue from taxes to cushion the ailing economic from further Covid-19 impact.

It is worth mentioning that both Centre and states are exploring all options to generate more tax revenue in the wake of the unprecedented disruptions caused by the novel coronavirus.

https://www.indiatoday.in/business/...ol-diesel-highest-in-world-1674936-2020-05-06

 

[Thamizh Puli]

good. less cars on the road the better

 

[Laozi]

Excellent move.

Heavily Tax imported polluting gasoline.

Use these funds to fight Corona Now and later subsidize electric vehicles with this excess cess.

 

[Krptonite]

Excellent move.

Heavily Tax imported polluting gasoline.

Use these funds to fight Corona Now and later subsidize electric vehicles with this excess cess.

The polity can't have it both ways now. When price revision was changed to be reflected daily instead of every fifteen days, the view put forth was that with the change in international prices any reduction thereof could be passed directly to the consumer.

Sure enough it rose when international prices went up, but when it came to reduction, the prices stubbornly stayed still. You can't expouse consumer protection then go and gouge them when it's time to provide relief. Covid excuse works now, but what of the consistent falling prices before all this mess and no change in consumer prices.

 

[Dalit]

LOL these are the same Indians that obsess with price hikes in Pakistan.

 

[Laozi]

The polity can't have it both ways now. When price revision was changed to be reflected daily instead of every fifteen days, the view put forth was that with the change in international prices any reduction thereof could be passed directly to the consumer.

Sure enough it rose when international prices went up, but when it came to reduction, the prices stubbornly stayed still. You can't expouse consumer protection then go and gouge them when it's time to provide relief. Covid excuse works now, but what of the consistent falling prices before all this mess and no change in consumer prices.

Either the funds collected through high taxation are being used for development/fighting Corona or going into the pockets of corrupt politicians.

People will decide in next election.

Last time when Modi got elected, he took advantage of falling oil prices to save the totally bankrupted economy which he inherited, Still he got re-elected in 2019

LOL these are the same Indians that obsess with price hikes in Pakistan.

What you don't realize is that PKR is down to almost half of INR.

You guys have lost 40% in purchasing power since IK has took over.

OP has converted the price of gasoline into PKR to look it inflated. The fact is for the second year running it is the PKR which has become the worst performing currency of this region.

 

[Realtalk108]

good. less cars on the road the better

Do you cycle to office?

 

[Jackdaws]

Bombay prices are even higher.
And here is Feku before he was PM -

 

[Pakistansdefender]

Either the funds collected through high taxation are being used for development/fighting Corona or going into the pockets of corrupt politicians.

People will decide in next election.

Last time when Modi got elected, he took advantage of falling oil prices to save the totally bankrupted economy which he inherited, Still he got re-elected in 2019



What you don't realize is that PKR is down to almost half of INR.

You guys have lost 40% in purchasing power since IK has took over.

OP has converted the price of gasoline into PKR to look it inflated. The fact is for the second year running it is the PKR which has become the worst performing currency of this region.

Why you always see everything through the prism of elections. The politicians do, yes but why you an ordinary citizen like you do .
Majority of poor Indians are in miserable conditions so are the people around the world. No one can deny that fact. So helping them in anyway possible is a good thing under these tough times.
Why do you have to put everything with regards to Modi winning his elections?
We Pakistanis may not like him.
But we know you do.
And it is your decision that matter so how much we want, nothing would happen. We are not your opposition whom you have to fight. We are here discussing why petrol is expensive in India. We are not discussing what effect it would have on modi and his elections?
In these times the best solution is to increase demand by giving poor people money, and lowering prices (one way of doing that can be achieved by lowering the petrol prices). The people might not be moving and don't even use petrol due to lockdown. But the farmers, the other people who transport food and maintain food supply chains are still on roads and supplying food. Increase in petrol price means increase in the price of food items /consumer goods.
Now you are kind of lucky that you don't have to change the petroleum price, only the tax ratio as petrol prices fall. Poor don't understand that and your prices of commodities may also remain the same. But in this difficult time reducing petrol would atleast lower the price of commodities so poor people would be able to buy 1 day meal form the 500 modi is throwing at them.
There are many people who think differently. You might believe in the survival of fittest and natural selection. There are political groups who believe in eliminating the poor and consider then the burden. Masses dying would be a huge boon for a country like India for it would decrease the population (not that I am saying it is happening.)
You might belong to that group.

 

[Secular]

Ramdevbaba- Hibernation Mode Activated.
Chaukidar Chor Hai.

 

[KAL-EL]

Are there Ford Mustangs, Dodge Chargers or Or Chevy Camaros on the roads of India?

 

[Nilgiri]

Are there Ford Mustangs, Dodge Chargers or Or Chevy Camaros on the roads of India?

Psh please..... we only care about the barracuda....not the lame imposters.

 

[KAL-EL]

Psh please..... we only care about the barracuda....not the lame imposters.